Author Topic: Fed chief Jerome Powell says he would not resign if Trump asks  (Read 241 times)

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Fed chief Jerome Powell says he would not resign if Trump asks
« on: January 04, 2019, 08:44:06 AM »
Powell claims he had not received any direct communication from the White House about unhappiness with the central bank's rate policy.
He also says no meeting with Trump has been scheduled.

So why did he make the statement in the first place? He's scared.
Trump appointed Powell, therefore he can replace him, but the leftists out there will claim he can't because of the Pendleton Civil Service Reform Act passed in 1883.
My suggestion to Powell is, Trump could push to have the Fed audited, and even if he didn't, the people would give Powell a no confidence vote to the Fed, furthering the suspicion that hangs over their heads.


Trump appointed Powell but has become severely critical of the Fed chairman. In October, Trump said the Fed was "going loco" as it continued to tighten monetary policy. The Fed raised rates four times in 2018. In December, a report said Trump wanted to fire Powell as his frustration with Fed policy and the market's downturn increased.

The Dow Jones Industrial Average and S&P 500 last month posted their worst December performance since 1931, falling more than 9 percent each. The S&P 500 also notched its biggest annual loss since the financial crisis, dropping more than 6 percent.
https://www.cnbc.com/2019/01/04/fed-chief-jerome-powell-says-he-would-not-resign-if-trump-asked-him-to.html
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