President Donald Trump threatens that he will dismiss Jerome Powell, the chairman of the Fed, if he does not step down at the expiration of his term in May.
Lara Maior
International
Rawpixel.com/ Shutterstock.com
Always see our news on Google
American President Donald Trump stated that he will fire Jerome Powell, the chairman of the Federal Reserve, if he does not step down at the end of his term on May 15. The dispute between the two began after Powell refused to lower the interest rate, despite Trump's repeated requests. Powell intends to remain in office until his successor, Kevin Warsh, is confirmed by the Senate. Trump mentioned that he wanted to fire Powell but avoided becoming a controversial figure. Republican Senator Thom Tillis threatened to block Warsh's confirmation, and Trump stated that he would not drop the criminal investigation against Powell related to the renovation of the Fed building. Treasury Secretary Scott Bessent expressed optimism that Warsh will be confirmed before Powell's term expires. Trump criticized Powell's management of the Fed renovation and suggested that he has overspent. If Trump were to fire a Fed chairman, it would be a first in history.
Sources
Latest News
21:27
47 suspects arrested in an investigation into a drug-trafficking network linked to murders and grenade attacks
21:23
Donald Trump defends his candidacy for the Nobel Peace Prize: “Maybe I prevented the total destruction of the world”
21:19
Parliament Calls for Any Future EU Agreement with Azerbaijan to Be Conditional on the Release of Political Prisoners
21:03
Mark Carney, after Anne Carson received the Nobel Prize in Literature: It is a source of great pride for Canada
20:48
The European Parliament refuses to recognize the new Russian Duma and calls on EU member states to avoid official contacts
See more news
NEWS ON THE SAME TOPICS
Personalized news feed, AI-powered search, and notifications in a more interactive experience.
