Trump considering removing Federal Reserve Chairman. President dissatisfied with interest rate decision. Powell defends cautious approach to rate changes.
Donald Trump, the President of the United States, is examining his legal authority to dismiss Jerome Powell, the Chairman of the Federal Reserve. Kevin Hassett, the White House economic advisor, confirmed on Friday that the President and his team are studying this issue. This action follows Trump’s strong dissatisfaction with the Federal Reserve’s decision not to reduce interest rates. Trump had previously accused Powell of being political and stated that his removal cannot be done quickly enough. Powell continues to emphasize the Federal Reserve’s cautious approach to interest rate changes.
