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Donald Trump told reporters aboard Air Force One on Friday that a decision on who will lead the Federal Reserve is “coming out very soon,” according to Reuters.
The president said he’s no longer willing to keep Jerome Powell in the job and confirmed that Kevin Warsh, a former Fed governor, is now being strongly considered to take over. “He’s very highly thought of,” Trump said when asked directly about Kevin, reported Cryptopolitan.
Trump made it clear he’s done waiting for Powell to move on interest rates. He said a good Fed chair would have already acted to cut borrowing costs. He’s calling for a full percentage point cut and believes Powell is making things worse by stalling.
“Very Simple!!! He is costing our Country a fortune,” Trump posted on Truth Social. He said borrowing costs “should be MUCH LOWER!!!”
“On debt that is coming due,” he wrote, America is paying too much. He also pointed out that other countries are cutting their rates, while the Fed under Powell has stood still.
The report is not clear about the timing of such a move, and how POTUS would removed Powell if before the end of his term.
Financial markets would likely cheer such a move as Powell looks to be acting politically instead of what is good for America in the long run.
Inflation is almost nonexistent but Powell refuses to act as it will help Trump's economic plan.
Good, about time he got rid of that traitor.
Some Democrat district judge will simply rule that Trump can't replace Powell.
Just ELIMINATE the Fed Reserve !
Has anyone ever questioned why our tax payments are going to Europe first. Cut interest rates, but why am I still paying a currency conversion rate when I go to pay my tax bill. There are a lot of traitors still left in our government. Powell was/is one and cant wait until trump gets rid of him