Trump floats firing ‘numbskull’ Fed chair Jerome Powell
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Mr Jerome Powell’s term as chairman of the US Federal Reserve does not conclude until next year.
PHOTO: REUTERS
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WASHINGTON - US President Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell on June 20 – publicly mulling whether to fire the official and appoint himself to the central bank.
The Republican leader, who regularly berates Mr Powell over the bank’s decisions not to lower interest rates, took to Truth Social to smear the banker as a “numbskull,” “moron” and “obvious Trump Hater”.
“I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I’ve tried it all different ways,” said Mr Trump, who appointed Mr Powell during his first term.
“I’ve been nice, I’ve been neutral, and I’ve been nasty, and nice and neutral didn’t work!”
Mr Powell’s term does not conclude until next year. He has said his dismissal would be unlawful, and that he has no intention of stepping down voluntarily if Mr Trump asks.
“I don’t know why the Board doesn’t override this Total and Complete Moron!” Mr Trump posted. “Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly!”
Mr Trump lashed out after the Fed held interest rates steady for a fourth consecutive meeting on June 18
The projections were its first since Mr Trump unleashed sweeping 10 per cent tariffs on almost all trading partners in April. AFP
