
President Donald Trump said on Friday that he would most likely not remove Jerome Powell as chairman of the Federal Reserve because it would cause financial disruption.
“They say it would disturb the market. I would remove him in a heartbeat, but they say it would disturb the market,” he told Newsmax host Rob Finnerty in a sit-down interview inside the White House. “He gets out in seven or eight months, and I’ll put somebody else in.”
Trump’s comments come amid his feud with Powell over his refusal to lower interest rates as requested by the president and allegedly mismanaging the budget for a pricey renovation to the Fed’s headquarters in Washington, D.C.
When Finnerty asked whether the renovation was the cause of Powell’s firing, Trump bemoaned the project.
“It’s not that intricate inside to start off with. I do a lot of that. I built a very successful hotel on Pennsylvania Avenue,” he said, referring to the Waldorf Astoria, which he no longer owns.
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Author: Marty Kaufmann
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