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Bullish
Will Fed Chair Powell be fired? The White House is investigating.
As reports of Fed Chair Powell's resignation, which has recently drawn criticism from Republicans, particularly Trump, increase, the White House is also investigating whether Powell could be fired. Economic advisor Hassett said, "The Fed has a lot of questions to answer. If there's a reason, Trump could fire him."
White House Economic Advisor Kevin Hassett criticized Jerome Powell and the Fed in an interview yesterday. Answering questions from ABC, Hassett addressed the Fed's project to merge and renovate two buildings on the Washington central campus and offered criticism:
"This project is the most expensive in Washington history... In fact, it's very close to the budget overrun of the FBI building, which is the second-largest budget overrun in US history... So, I think the Fed has a lot of questions to answer here."
The initial figure for this Fed project was $1.8 billion. However, with subsequent additional expenses, the total rose to $2.5 billion. Addressing the question of whether this situation could lead to Powell's dismissal, Hassett said:
"We're looking into it. Of course, if there's a reason, he will definitely be dismissed."
White House Budget Director Russ Vought, meanwhile, likened the Fed's latest move to the French palace of Versailles, known for its lavish spending. Vought compared the palace, which represented the royal family living a life of luxury before the hardships of the French Revolution, to the Fed buildings, saying, "There's no need for ornate water fountains, gardens, and marble structures."
Powell, in his most recent Senate hearing, stated that there was no such thing as lavish spending, and that aging infrastructure and security issues generally necessitated this renovation.
Bill Pulte, director of the U.S. Housing Finance Agency, which has taken positive steps against cryptocurrencies, also said on Friday that there were reports that Fed Chair Jerome Powell was considering resigning.
⚠️ Note: My posts are not investment advice.
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As reports of Fed Chair Powell's resignation, which has recently drawn criticism from Republicans, particularly Trump, increase, the White House is also investigating whether Powell could be fired. Economic advisor Hassett said, "The Fed has a lot of questions to answer. If there's a reason, Trump could fire him."
White House Economic Advisor Kevin Hassett criticized Jerome Powell and the Fed in an interview yesterday. Answering questions from ABC, Hassett addressed the Fed's project to merge and renovate two buildings on the Washington central campus and offered criticism:
"This project is the most expensive in Washington history... In fact, it's very close to the budget overrun of the FBI building, which is the second-largest budget overrun in US history... So, I think the Fed has a lot of questions to answer here."
The initial figure for this Fed project was $1.8 billion. However, with subsequent additional expenses, the total rose to $2.5 billion. Addressing the question of whether this situation could lead to Powell's dismissal, Hassett said:
"We're looking into it. Of course, if there's a reason, he will definitely be dismissed."
White House Budget Director Russ Vought, meanwhile, likened the Fed's latest move to the French palace of Versailles, known for its lavish spending. Vought compared the palace, which represented the royal family living a life of luxury before the hardships of the French Revolution, to the Fed buildings, saying, "There's no need for ornate water fountains, gardens, and marble structures."
Powell, in his most recent Senate hearing, stated that there was no such thing as lavish spending, and that aging infrastructure and security issues generally necessitated this renovation.
Bill Pulte, director of the U.S. Housing Finance Agency, which has taken positive steps against cryptocurrencies, also said on Friday that there were reports that Fed Chair Jerome Powell was considering resigning.
⚠️ Note: My posts are not investment advice.
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