What exactly said about the Central Bank chief?Posted at 11:59 am British Summer Time
Image source, Getty imagesThe American markets plunging yesterday after the criticism of American president Donald Trump towards the president of the federal reserve, Jerome Powell.
Like the Bank of England in the United Kingdom, the Federal Reserve decides independently of the government’s interest rates.
But in an article on social networks, Trump called Jerome Powell to reduce “preventively” interest rates to help stimulate the economy.
“There can be a slowdown in the economy unless Mr. Too late, a large loser, reduces interest rates, now,” he wrote.
The president’s intensification with Powell, whom he appointed to lead the Fed during his first mandate, added to the recent market torment on prices. Powell previously warned that Trump import taxes were likely to increase prices and slow down the economy.
Last week, the president published publicly that Powell is dismissed, writing Thursday on social networks: “Powell’s dismissal cannot come quickly enough.”
Such a decision would be controversial – and legally questionable – taking into account the traditional independence of the Government Bank.
