“The president and his team continue to study this issue.” The White House has admitted that it is analyzing the dismissal of the president of the Federal Reserve From the United States (Fed), Jerome Powell, after last Thursday the president of the Government, Donald Trump, made harsh criticism of his work in the oval office.
Specifically, Trump questioned Powell’s alleged slowness when cutting interest rates as did the European Central Bank (ECB) last Thursday and with his unique style slid that “it is time for the Powell’s mandate to finish” in a rare threat towards the main representative of one of the most critical institutions for the operation of the global economic framework.
There is the circumstance that Powell has more than a year of mandate at the head of the Federal Reserve, since His period as president does not end until May 15, 2026and also its function as advisor to the institution still extends until January 31, 2028, so its dismissal should be precipitated so that the Trump administration could undertake a relay of that nature.
None of this seems to stop at the White House, which according to Friday its economic spokesman, Kevin Hasset, in statements of which Bloomberg echoed and collected by Europa Press, is studying the situation to see the margin of maneuver that is available to be able to cease Powell.
The president of the Federal Reserve emphasized this week that Trump’s tariff offensive was complicating the work of the Federal Reservesince now I would have to decide between guiding monetary policy to inflation control or preventing the increase in unemployment due to the foreseeable economic deceleration, but recession, in which the US economy could enter.
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