U.S. President Donald Trump has denied rumors about firing Federal Reserve Chair Jerome Powell, amid his criticism of the Fed's monetary policy.
Trump's Statement on Powell
Trump stated that he has no intention of firing Powell, saying, 'Never did. The press runs away with things. No, I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates.'
Criticism of the Fed and Economic Context
Trump expressed frustration that the Fed has not taken a more aggressive approach in cutting interest rates amid rising inflation and slowing economic growth. Powell’s approach has been characterized by caution, focusing on balancing inflation control and economic stability.
Response to Trump's Comments
Trump's clarification dispels rumors of a potential shake-up at the Fed's leadership, which could have created uncertainty in the financial markets. It highlights the ongoing tension between political figures advocating for rapid policy changes and the Fed’s independent mandate.
Trump’s remarks clarify his stance regarding the Fed and emphasize the need for a balance between political pressures and economic realities.
