đĽ Trump Renews Attacks on Fed Chair Powell
Donald Trump is once again taking aim at Jerome Powell, head of the U.S. Federal Reserve, slamming him over the Fedâs reluctance to cut interest rates. On his social platform, Trump wrote that Powellâs âtermination cannot come fast enough,â frustrated that the U.S. hasnât followed Europe in lowering rates to boost growth.
Though Trump appointed Powell in 2017, heâs been a frequent critic, accusing him of missteps and slow responses to economic shifts. Powell, however, stands firmâemphasizing that the Fed bases its decisions on data, not politics, and defending its independence.
Legal experts note Trump canât just fire Powell without cause, and Powell has signaled heâs ready to fight any attempt to oust him.
This clash raises serious concerns about political interference in monetary policyâa potential risk to economic stability.
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