US Edition
Trump says he ‘most likely’ won’t axe Powell
DISTRICT OF COLUMBIA, AUG 2 – Trump says Jerome Powell will likely finish his term to avoid market disruption despite criticism over interest rate policy and a $2.9 billion Fed headquarters renovation.
- On Friday, President Donald Trump indicated he probably would not dismiss Federal Reserve Chairman Jerome Powell at this time, citing concerns about potential market instability.
- This statement follows a feud between Trump and Powell over Powell's refusal to substantially lower interest rates and alleged mismanagement of a costly Fed headquarters renovation.
- The Fed renovation, announced in 2017 with an estimated cost of $1.9 billion, has experienced a significant increase in expenses, now totaling approximately $2.5 billion or more.
- Trump criticized the expenditure on the renovation, noting that $2.9 billion has been allocated to the project, and referred to Powell as "Too Late Powell," insisting on immediate reductions in interest rates.
- Fed Governor Adriana Kugler's unexpected resignation gave Trump an opening for a new appointment, and calls continue for the Fed Board to assume control if Powell does not act.
26 Articles
26 Articles
US President Donald Trump said he could fire Federal Reserve Chairman Jerome Powell "immediately," but suggested it could confuse the market...
The number one of the Federal Reserve is attacked almost daily by Donald Trump because he does not lower interest rates and according to him "should resign"
The US president fears the reaction of the markets, after the black Friday of Wall Street and the World Bags for its duties. Secretary to the Treasury Scott Bessent explained it to him in every way: removing the head of the Fed would be seen as an attack on the autonomy of the American central bank and therefore on the reliability of the country. (ANSA)
In 2025 the president of the US addressed to the central banker of the Fed a number of epithets. But now he says to Newsmax: "I believe he will stay in his place, I would remove him on the fly but they told me that he would upset the markets"
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