Trump calls for US central bank head to quit immediately
Summary
Former US President Donald Trump has asked for Federal Reserve Chair Jerome Powell to resign immediately. Trump, who initially appointed Powell, criticized him for not lowering interest rates. Powell mentioned earlier that interest rates might have been reduced if not for certain policies from Trump's administration.Key Facts
- Trump called for Jerome Powell, the head of the US Federal Reserve, to resign immediately.
- Trump posted his demand on his social media platform, Truth Social.
- Trump has criticized Powell for not cutting interest rates, although it's unclear if Trump can remove him from office.
- Powell stated that the Fed might have reduced rates if not for the impact of Trump's tariff policies.
- Federal Reserve board members can only be removed "for cause," according to a US Supreme Court ruling.
- The Federal Reserve declined to comment on Trump's remarks.
- Federal Housing Finance Agency director Bill Pulte also called for an investigation into Powell.
- Last week, Powell defended the costs of renovations at the Fed's headquarters, saying reports were misleading.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
