Trump Encourages Fed Chair Powell’s Resignation
(MENAFN) U.S. President Donald Trump expressed on Friday that he would "love" for Federal Reserve Chairman Jerome Powell to step down.
"I'd love him to resign if he wanted to, he's done lousy job," Trump stated to journalists in the Oval Office.
According to Trump, Powell has the authority to reduce interest rates with "the stroke of a pen," potentially saving the country vast sums annually. However, Trump harshly criticized him as "a stupid person."
He accused Powell of committing a "mistake" by choosing not to decrease interest rates.
"We have a guy that's just a stubborn mule and a stupid person that is making a big mistake," Trump further commented.
Calling Powell "not good" for the nation, Trump claimed, "I think we should be paying 1% right now, and we're paying more because we have a guy who suffers from, I think, Trump Derangement Syndrome."
Trump has frequently urged the Federal Reserve to slash interest rates, pointing to similar actions by European central banks and cautioning that inaction could hinder the U.S. economy.
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