Trump says he’ll replace Fed Chairman Powell and accuses him of aiding Democrats

Former President Donald Trump slammed Jerome Powell, arguing that the Federal Reserve chairman is planning to lower interest rates to aid Democrats in the coming election.

“I think he’s political,” Trump said, according to excerpts from an appearance on Fox Business that will air this Sunday. “I think he’s going to do something to probably help the Democrats, I think, if he lowers interest rates.”

Trump also said he would not offer Powell another four-year term in 2026.

Trump appointed Powell as the top Fed official for a first term that began in 2018. Powell was subsequently reappointed by President Joe Biden in 2022.

Trump notoriously criticized Powell while in office, pressing him to lower interest rates in defiance of the convention for presidents not to intervene in monetary policy decisions by the central bank.

Trump suggested in the comments released
Read more…

Please follow and like us: