WATCH: Trump says it’s ‘highly unlikely’ he’ll fire Fed chair Powell
Summary
President Donald Trump criticized Federal Reserve Chair Jerome Powell for not reducing interest rates but said he is unlikely to fire him. Trump wants lower rates to cut borrowing costs and boost the economy, but Powell is keeping them steady due to inflation concerns.Key Facts
- President Trump called Federal Reserve Chair Jerome Powell a "knucklehead" for not lowering interest rates.
- Trump believes lowering rates would save the government money and help the economy grow.
- The Federal Reserve has kept interest rates between 4.25% and 4.5% since December.
- Powell maintained the rates because of concerns about inflation, partly due to tariffs imposed by Trump.
- Trump denied rumors that he was planning to fire Powell, saying it was "highly unlikely."
- Trump suggested Powell might leave only if there was a reason like fraud, relating it to a renovation project.
- The discussion occurred during a meeting with Bahrain’s Crown Prince.
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.