Federal Reserve Banking Conference Avoids Powell Drama
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Fed, Powell
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Besieged Federal Reserve Chairman Jerome Powell should resign, Mohamed El-Erian, former Pimco CEO and current president of Queen’s College at Cambridge, tweeted on Tuesday, becoming one of the first mainstream market commentators to do so.
The letter surfaced as President Donald Trump has bludgeoned the Federal Reserve chairman Powell with criticism over his refusal to cut interest rates.
HUD Secretary Scott Turner criticizes Fed Chair Jerome Powell for spending billions on renovations while Americans struggle with high mortgage rates amid a housing crisis.
Trump wants to replace Jerome Powell with a Fed chair who will do what he wants. But that still may not produce the steep cuts Wall Street is counting on.
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Benzinga on MSNTrump’s Threat to Fire Powell Risks Undermining Fed Independence, Destabilizing MarketsPresident Donald Trump’s renewed threats to remove Federal Reserve Chair Jerome Powell are intensifying legal and economic uncertainty, according to CNBC. Legal experts say Trump lacks clear authority to remove the Fed chair without cause,