Trump Reportedly Drafts Letter to Dismiss Federal Reserve Chair Powell
AI Summary
According to PANews, U.S. President Donald Trump has reportedly drafted a letter to dismiss Federal Reserve Chair Jerome Powell. This development was initially reported by the New York Times, highlighting ongoing tensions between the President and the Federal Reserve. The move comes amid disagreements over monetary policy and interest rates, which have been a point of contention between Trump and Powell. The President has been vocal about his dissatisfaction with the Federal Reserve's decisions, particularly regarding interest rate hikes, which he believes have hindered economic growth. The potential dismissal of Powell could lead to significant changes in the U.S. monetary policy landscape, affecting both domestic and global markets. As of now, there has been no official confirmation or announcement regarding Powell's dismissal.