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Trump hints at firing Powell ahead of Fed meeting: "Let's see what he's doing"

On Tuesday, President Trump proposed that he be able to remove Federal Reserve President Jerome Powell, one day before a critical interest rate decision in Washington by US Federal Reserve politicians.

"Let's see what he's doing," he said when a reporter asked if he would break down Powell, which he hand-picked in 2017.


On Wednesday, the Fed ends its two-day meeting, where it is largely expected to leave interest rates unchanged, as it opens the door for a fall in July. Trump has repeatedly pushed politicians to lower their borrowing costs and often criticized the Fed for raising interest rates in December ̵

1; the fourth time it did in 2018.

Bloomberg News reported earlier on the day that white house in February had explored the legality of to strip Powell of his presidency and leave him as a fat governor just two months after Trump had discussed shooting him.

"I'm not going to comment," said President Trump's chief financial advisor Larry Kudlow to journalists. "It happened six months ago, and it does not happen today, and therefore I have nothing to say about it."

It is unclear whether Trump has the power to hand over Powell before his mandate ends in 2022. According to law President can burn a Fed governor (for one reason), but it has not been tested by burning a chair. Because the chair is considered governor, it is likely that it is legal.


However, advisers have warned Trump that firing Powell would rock the already volatile markets – which is probably what he hopes to avoid by replacing the chair.

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