Trump, Jerome Powell and Federal Reserve Chair
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MiBolsilloColombia on MSNGOP senators push back on Powell ouster, warn of market turmoilRepublican senators warned Trump not to fire Fed Chair Jerome Powell, citing risks to market stability and the Fed’s independence.
Fed Chair Jerome Powell is under fire from the White House, which accuses him of bungling a renovation of the Fed's HQ and has suggested it could be cause to fire him.
President Trump asked Republican lawmakers this week whether he should fire Federal Reserve Chair Jerome Powell, whom he appointed to the position in 2017. The move followed months of criticism by Trump of Powell,
Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump’s sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties.
There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Powell from the helm of the central bank,
The S&P 500 reverses earlier losses to close just shy of a record.