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центр занятости краснодар орджоникидзе режим работы, Trump Encourages Powell to Resign in Latest Attack on the Fed , Trump demands 1% interest rate, says he’d ‘love’ for Powell , ‘A stubborn mule’: Trump encourages Powell to resign in , Trump floats possibility of firing Fed chair | Mortgage , Why Trump's threat to fire Powell is scaring the stock market, Trump Encourages Powell to Resign in Latest Attack on the Fed , MxM News: Trump Encourages Powell to Resign in Latest Attack .
Trump demands 1% interest rate, says he’d love for Powell to resignhtml{font-family:'__Roboto_a15c3d', '__Roboto_Fallback_a15c3d'}.alsoReadPlane a,.article_content p a *,.articleDetailPage p a *{color:#f36f21}vlogout //Trump demands 1% interest rate, says he’d love for Powell to resignTrump demands 1% interest rate, says he’d ‘love’ for Powell to resignEdited By Published: Jun 28, 2025, 09:03 IST | Updated: Jun 28, 2025, 09:03 ISTUS President Donald Trump. Photograph: (Reuters)Story highlightsDonald Trump escalates pressure on Fed Chair Jerome Powell, demanding a drastic rate cut to 1% and signalling he’ll install a successor who aligns with his economic agenda ahead of the 2026 election.US President Donald Trump has renewed his attacks on Federal Reserve Chair Jerome Powell, demanding an aggressive cut in interest rates to 1 per cent while declaring he would “love” for Powell to step down. The latest salvo marks Trump’s most explicit threat yet to reshape the leadership of the world’s most powerful central bank to deliver the steep rate cuts he wants as he sets the stage for a high-stakes election year.As per Reuters, Trump called Powell “stupid” and accused him of suffering from “Trump Derangement Syndrome”, blaming the Fed chief for keeping borrowing costs too high and choking economic momentum.Trump’s explicit call for deep rate cutsSpeaking at the White House on Friday, Trump criticised the Fed for holding its benchmark short-term rate in a range of 4.25 to 4.50 per cent, insisting that the central bank should immediately cut rates to just 1 per cent.“I think we should be paying 1 per cent right now, and we’re paying more because we have a guy who suffers from, I think, Trump Derangement Syndrome,” Trump said, as quoted by Reuters. He added: “I’d love him to resign if he wanted to, he’s done a lousy job.”A litmus test for the next Fed chiefTrending StoriesTrump also made clear that any successor he nominates for Powell will have to meet his demand for drastic rate cuts. “If I think somebody’s going to keep the rates where they are or whatever, I’m not going to put them in,” Trump said. “I’m going to put somebody that wants to cut rates. There are a lot of them out there," as quoted by Reuters.This unusually blunt litmus test signals Trump’s readiness to break with precedent. While past US presidents have privately complained about the Fed keeping rates too high, few have set such clear and public policy conditions for a nominee. As per Reuters, Trump’s strategy is to ensure any new Fed chief will align with his push for cheap borrowing costs to stimulate the economy heading into the 2026 presidential race.Fed’s caution over inflationThe Federal Reserve, however, has signalled it will move cautiously on rates. After a series of aggressive rate hikes to counter the biggest inflation surge since the 1970s and 1980s, the Fed eased somewhat in late 2024 but has held rates steady so far in 2025. Policymakers remain wary that cutting too quickly could reignite inflation, particularly in light of Trump’s own tariff threats, which risk fuelling price increases.Fed officials have pencilled in a modest half-percentage-point reduction later this year, a fraction of the dramatic cuts Trump is demanding. According to Reuters, Trump has repeatedly attacked Powell for refusing to lower borrowing costs since Trump returned to the White House in January.Powell’s tenure and Trump’s succession planPowell’s term as chair of the Federal Reserve runs until May 2026, making his removal unlikely barring malfeasance or misconduct. Presidents are generally seen as unable to dismiss Fed chairs over policy disagreements, a legal protection designed to safeguard central bank independence. Trump had previously threatened to fire Powell outright, but in recent weeks he has largely abandoned that approach. A Supreme Court opinion is seen to have reinforced the view that presidents cannot dismiss Fed leaders over policy differences.Instead, Trump has shifted focus to naming Powell’s successor well in advance. He told reporters he has three or four potential candidates in mind and plans to announce his choice soon, potentially months ahead of the usual schedule. According to Reuters, such an early nomination is widely viewed as an effort to create a “shadow chair” who could undermine Powell’s authority and signal Trump’s preferred policy direction.Who could replace Powell?Treasury Secretary Scott Bessent is seen as one of the leading candidates to replace Powell. But Bessent has downplayed suggestions of serving as a “shadow chair” before the term is up. “I don’t think anyone’s necessarily talking about that,” Bessent told CNBC. He noted that while Powell’s term as chair ends in May 2026, he can remain on the Fed Board of Governors until 2028. The first likely opportunity for a Trump appointment may come when Governor Adriana Kugler’s term expires in early 2026.“So there is a chance that the person who is going to become the chair could be appointed in January, which would probably mean an October, November nomination,” Bessent said, as quoted by Reuters. When asked about speculation he might be in the running, Bessent said: “I’ll do what the president wants, but I think I have the best job in Washington.”Other potential names in circulation include White House economic adviser Kevin Hassett, former Fed Governor Kevin Warsh, and current Governor Christopher Waller. Waller, who was appointed during Trump’s first term, recently said he is open to cutting interest rates as soon as the Fed’s next meeting at the end of July.Political pressure meets Fed independenceTrump’s aggressive rhetoric lays bare the growing tension between the White House and the Federal Reserve over monetary policy. While presidents have always eyed the Fed’s decisions closely, Trump’s approach marks a dramatic escalation in politicising central bank policy.The independence of the Federal Reserve has long been viewed as a cornerstone of its credibility in ensuring price stability and maintaining global confidence in the US economy. Trump’s demands for loyalty on rate policy could test the limits of that independence in the months to come.As per Reuters, with Powell’s term entering its final year, the battle over interest rates is poised to become a central economic and political fault line in the lead-up to the 2026 election.(With inputs from the agencies)Trending TopicsShow Full ArticleOur Network SitesCopyright © 2025. INDIADOTCOM DIGITAL PRIVATE LIMITED. All Rights Reserved., President Trump continued his assault on the chair of the Federal Reserve on Friday, saying he would like Jerome H. Powell to resign., Amid election-year economic manoeuvring, US President Trump slams Fed Chair Jerome Powell, calls for his resignation, and vows to nominate a rate-cut-friendly successor, deepening concerns over political interference in central bank independence..
US President Donald Trump continued his assault on the chair of the Federal Reserve on June 27, saying he would like Jerome Powell to resign. The president, who has berated Mr Powell for weeks, called the chair a “stubborn mule” who has “Trump derangement syndrome” for his refusal to immediately lower borrowing costs., President renews attacks over interest rate stanceIn recent months, President Trump has dismissed the idea of firing Federal Reserve chair Jerome Powell despite a series of high-profile disputes , Powell has said he would not step down if Trump asked him to resign, noting that the Fed's independence is "a matter of law" and that members serve "very long terms.", Analyzed news - New archive research news and trends news on a time line, Trump Encourages Powell to Resign in Latest Attack on the Fed Chair, .