"Trump made his remarks on Tuesday as interviewing was under way for candidates to replace outgoing Federal Reserve chief Jerome Powell. list of 4 itemsend of list I want my new Fed Chairman to lower Interest Rates if the Market is doing well, not destroy the Market for no reason whatsoever, Trump wrote in a lengthy post on his Truth Social platform. The United States should be rewarded for SUCCESS, not brought down by it. Anybody that disagrees with me will never be the Fed Chairman!"
"Since returning to office in February, Trump has constantly pressured the Federal Reserve the central bank of the US to cut interest rates in a bid to boost economic growth across the US economy. Trump also threatened to dismiss Fed chief Powell for not following his directive on cutting interest rates, calling him a numbskull and major loser in public. The president's comments about Powell's replacement have stoked fears about the future independence of the Fed from political interference a longstanding convention in the US."
The president is reviewing candidates to replace outgoing Federal Reserve chair Jerome Powell and expects the next chair to maintain low interest rates and align with his views. The president has repeatedly pressured the Federal Reserve to cut rates, threatened to dismiss Powell, and used public insults over rate decisions. Federal Reserve independence from political interference has been a longstanding convention, and those comments have raised concerns about preserving that independence. The Fed cut its benchmark rate three times this year to 3.5–3.75 percent, while the president has advocated for rates as low as 1 percent. Lower rates encourage borrowing and spending but can increase inflation risk.
Read at www.aljazeera.com
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