Particle.news
Download on the App Store
7 ARTICLES
·
last mo.

Trump Reverses Course on Firing Fed Chair Powell

His reversal came after he condemned the Fed’s $2.5 billion building renovation as wasteful, a stance that briefly unsettled financial markets.

Donald Trump reproche depuis plusieurs mois à Jerome Powell de ne pas avoir baissé les taux d’intérêt de la banque centrale.
Image
Image
Image

Overview

  • At a July 16 White House briefing, Trump said he had considered dismissing Jerome Powell but called the possibility “very improbable.”
  • He criticized Powell for not lowering interest rates and questioned the Fed’s decision to spend $2.5 billion on Washington headquarters renovations.
  • The White House confirmed Trump met with Republican lawmakers to discuss Powell’s removal but stressed no action is imminent.
  • Financial markets reacted with a 1% drop in the dollar, 30-year Treasury yields rising to about 5.07%, and volatility in gold and equity indices.
  • Goldman Sachs CEO David Solomon and senior Republican senators warned that ousting the Fed chair could harm markets and face legal barriers to removing him.