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The President of the College of Queens Cambridge University Mohammed El-El-Eriya speaks during a discussion at the headquarters of the International Monetary Fund during the IMF annual meetings in Washington, Colombia, October 13, 2022.
James Lowler Daggang | Reuters
Mohammed El Herian on Tuesday called on the chairman of the federal reserve system Jerome Powell voluntarily abandoning his position to ensure the independence of the Central Bank by making the chief economic advisor to one of the first well-known economists who publicly occupy such a position.
“If Powell’s chairman is to preserve the Fed Autonomous Autonomy (which I find vital), then he has to resign,” El Eriyan said, A, Morning post on X.
El Herian, also the President of the College of College at the University of Cambridge, said he knew that his opinion did not fit what he saw as a consensus Wall Street, which wants Powell to serve the rest of his term as the chairman ending May 2026.. However, a former co -chairman of the PIMCO investment acknowledged that Powell’s resignation would not be “first best”.
But El Eriyan said that Powell, who was leaving his post, would be better than the current scenario in which he said that the Fed is faced with “increasing and expanding threats” to his independence. El Herian said these threats would probably increase only if Powell remained a chair.
El Eriyan referred to Minister Scott Beauty statement that the Fed suffered a “pause mission” in areas that are not included in the main duties of the monetary policy. The infant said CNBC on Monday what is it “All” Fed must undergo review.
Applications come when President Donald Trump and his advisers have stepped up their Attacks on Powell On the occasion of the decision of the Fed to make interest rates on December. Powell said Trump’s plan at steep tariffs created economic uncertainty, pushing the bank To keep the rates unchanged because it is waiting for events.
