White House, Federal Reserve and Powell
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President Donald Trump said Wednesday it’s “highly unlikely” that he’ll fire Federal Reserve Chair Jerome Powell after signaling otherwise a day earlier in a private meeting with lawmakers.
Mr Trump has repeatedly criticised Mr Jerome Powell for being “too late” in cutting interest rates. Read more at straitstimes.com. Read more at straitstimes.com.
Trump and White House allies have intensified pressure on Powell, urging the Fed to cut its key interest rate through a multi-front push.
The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it's a pretext to eventually fire the central bank chief.