US President Donald Trump stated in remarks to reporters at the Oval Office in the White House that he has no plans to remove Federal Reserve (Fed) Chair Jerome Powell from office. This statement contradicts Trump's past harsh criticisms of Powell.
Trump had previously criticized Powell in harsh terms for being slow to lower interest rates and had said he should be removed from his post. However, in his latest statement, he has stepped back from that stance.
"PERFECT TIME TO LOWER RATES"
Emphasizing that Powell should adopt a more active approach to cutting interest rates, Trump said, "We think the Fed should lower interest rates. In our view, this is the perfect time to lower the rate. We expect (Powell) to act early or on time rather than being late on this issue."
HE SPOKE DIFFERENTLY IN APRIL
In a statement on April 17, Trump had accused Powell of being "too late" and "wrong" in lowering interest rates, and had demanded that his tenure be terminated immediately. -
News Source: AA
