US, Trump tough on Powell: 'I would like his resignation, he did a bad job'
Speaking at the White House, Trump admitted: "I would love it if he resigned, if he wanted to. His performance has been very poor."
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US President Donald Trump has once again made harsh attacks on Federal Reserve Governor Jerome Powell, calling him "a stupid person" who "did a terrible job". Speaking at the White House, Trump admitted: "I would love it if he resigned, if he wanted to. His performance has been really shoddy."
The president's frustration stems from the Fed's refusal to lower the benchmark interest rate, despite constant pressure from the administration.
Powell has so far resisted, citing the uncertainty of the tariff policies imposed by Trump himself and the inflation trend. According to Trump, a rate cut would stimulate the economy and save the state up to USD 950 billion in interest payments on the national debt.
Powell, appointed by Trump himself during his first term, still has less than a year to go before his term expires and has categorically ruled out resigning.
By law, a president cannot fire the Fed chief except for cause. Trump has already announced that he expects the next central bank president to favour a lower rate policy.
