President Donald Trump continued his criticisms of Federal Reserve Chair Jerome Powell on Tuesday but appeared resigned that he will have to wait until next May, when Powell’s second four-year term ends, to appoint a new chair.
Trump has been irate that the Fed has not lowered interest rates from its benchmark 4.25% to 4.5 % since he began his second term. He has called on Powell to resign and threatened to fire him.
During an Oval Office appearance with Philippines President Ferdinand Marcos Jr., Trump was asked whether he thinks Powell should resign.
“No; I think he’s done a bad job, but he’s going to be out pretty soon anyway,” Trump said at an event that aired live on Newsmax and the Newsmax2 free online streaming platform. “In eight months, he’ll be out. But I call him ‘Too Late.’ He’s too late all the time. He should have lowered interest rates many times. Europe lowered their rate 10 times. We lowered ours none, and it’s causing a problem for people that want to buy a home.”
Click this link for the original source of this article.
Author: Faith Novak
This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
