Fed independence under renewed fire from Trump
President unlikely to be able to fire Jerome Powell but could exert pressure in other ways, say observers
The Federal Reserve’s independence was under threat again over the Christmas period as President Donald Trump hinted he wants to fire the Fed chair Jerome Powell, according to reports.
Trump discussed removing Powell from the board following the Fed’s December 19 interest rate increase and the recent equity market volatility, Bloomberg reported. The news outlet cited sources close to the matter.
In the two days after the Fed’s rate decision, the Dow Jones fell from 23,323 to 22,445. Two days
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