Trump, Jerome Powell and Federal Reserve
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Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell.
JPMorgan Chase Chief Executive Jamie Dimon sounded Wall Street’s clearest warning against the Trump administration’s attacks on Federal Reserve Chair Jerome Powell, describing the central bank’s independence as crucial.
The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.
Privately, White House officials acknowledge uncertainty about Trump firing Powell solely based on accusations he mismanaged a multi-year renovation project.
President Trump asked Republican lawmakers this week whether he should fire Federal Reserve Chair Jerome Powell, whom he appointed to the position in 2017. The move followed months of criticism by Trump of Powell,