President Trump has intensified his criticism of Federal Reserve Chair Jerome Powell, publicly suggesting that Powell's removal 'cannot come fast enough' after the Fed's response to global economic shifts. Trump argues that the US central bank is lagging behind the European Central Bank, which just announced another interest rate cut. Despite Trump's threats, the President does not have the authority to fire the Fed chair, as the Federal Reserve operates independently from the executive branch. The dispute highlights ongoing tensions between the White House and the central bank over monetary policy. This clash comes as global economic uncertainty prompts central banks worldwide to lower interest rates.
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Trump Slams Fed Chair, Says His ‘Termination Cannot Come Fast Enough’
In a social media tweet early Thursday morning, Trump slammed Fed Chairman Jerome Powell, claiming that the US central bank is falling behind its European equivalent. Later Thursday morning, the European Central Bank announced that interest rates would be slashed for the seventh time in a year.
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