Trump regrets appointing Powell as Federal Reserve Chairman
YEREVAN, OCTOBER 24, ARMENPRESS. US President Donald Trump has said he “maybe” regrets appointing Jerome Powell as Federal Reserve Chairman, Bloomberg reports.
The Federal Reserve is the US central bank.
Trump told the Wall Street Journal in an interview Tuesday that he was intentionally sending a direct message to Powell that he wanted lower interest rates, even as he acknowledged that the central bank is an independent entity.
Trump said in the interview that Powell “almost looks like he’s happy raising interest rates” and that is “too early to tell, but maybe” he regrets appointing him.
Trump sidestepped a question on what circumstances would lead him to remove Powell. “I don’t know,” Trump said. That contrasted with his response to a similar question on Oct. 11, when he answered, ““I’m not going to fire him.”
The law governing the Federal Reserve allows its governors to be “removed for cause by the president,” but it doesn’t specify what “cause” means.