Trump, Fed and Powell
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Trump, Jeffrey Epstein
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The U.S. dollar tumbled on Wednesday on news reports that U.S. President Donald Trump is planning to fire Federal Reserve Chair Jerome Powell, but pared the drop after Trump denied the plans. Trump said that he is not planning on doing anything,
A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.
President Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday, and that the Fed “has a lot to answer for” on renovation cost overruns at its Washington headquarters.
There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Powell from the helm of the central bank,
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The president floated the idea of firing the Fed chief to lawmakers, then said such a move was "very unlikely."