The Federal Reserve’s independence was under threat again over the Christmas period as President Donald Trump hinted he wants to fire the Fed chair Jerome Powell, according to reports.
Trump discussed removing Powell from the board following the Fed’s December 19 interest rate increase and the recent equity market volatility, Bloomberg reported. The news outlet cited sources close to the matter.
In the two days after the Fed’s rate decision, the Dow Jones fell from 23,323 to 22,445. Two days
- RBI unveils vision for e-payments overhaul
- Weidmann warns trade war likely to hurt US more than Germany
- Don Kohn offers advice on macro-pru under uncertainty
- New IMF data reveals non-banks drive capital flows when global risks rise
- Trade protection leads to recessions in the long run – Bank of Canada researcher