Fed, Trump and Powell
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President Donald Trump has escalated his pressure campaign against Federal Reserve Chair Jerome Powell, leaving the door open to ousting him for “fraud,” he said last week. That raises questions about what would happen if Trump actually tires to fire the central bank leader.
Donald Trump has been bullying Federal Reserve Chair Jerome Powell—calling him “too late,” insulting his intelligence, and trying to gin up a case that Powell spent too much on renovations of the agency’s headquarters as a pretext for firing him.
Trump ally Rep. Anna Paulina Luna claims Federal Reserve Chairman Jerome Powell committed perjury during Senate testimony and in communications with the Office of Management and Budget.
The Federal Reserve’s independence from political interference, viewed as sacrosanct inside the central bank, is under siege.
Former Commerce Secretary Wilbur Ross believes that President Donald Trump attempting to unseat Federal Reserve Chair Jerome Powell would result in a lengthy legal battle and few benefits for the president.
Four potential Powell replacements have been shortlisted by the betting market. Here's who's in the running to be the next Fed Chair.
HUD Secretary Scott Turner criticizes Fed Chair Jerome Powell for spending billions on renovations while Americans struggle with high mortgage rates amid a housing crisis.
Trump wants to replace Jerome Powell with a Fed chair who will do what he wants. But that still may not produce the steep cuts Wall Street is counting on.