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US President Donald Trump has called for the chairman of the federal reserve system to throw at once, “in the escalation of his attacks on Jerome Powell.
“” Too late “should resign immediately !!!”, “said Trump in a message about his Truth Social Platform.
He also included a link to the news article about the US Housing Federation, which called for the investigation of Mr. Powell’s testimony on the repair of the Central Bank’s Washington headquarters.
Trump highlighted Mr. Powell to become a Fed chair during his first term. Since then, he has repeatedly criticized him for not reducing interest rates, but it is unclear whether the president has powers to remove him.
Despite the constant criticism of President Mr. Powell, he stated that he “had no intention to dismiss him earlier this year.”
Trump wants the federal reserve system to reduce interest rates to help increase economic growth.
Mr. Powell said on Tuesday that the Fed would decline if Trump’s tariff policy was not influenced.
When asked during a Central Banker meeting in Portugal if the US rates would again be this year if the administration did not announce the plan to increase the tariffs for the world, which Mr. Powell replied: “I think it is right.”
The US Federal Reserve refused to comment on Trump’s statements when addressing the BBC.
On the eve of Trump’s return to the White House earlier this year, Mr. Powell said he would not go away if the president asked him and that he was “not allowed by law” that the White House pulled him out.
Members of the Council of Independent Federal Agency, such as the Federal Reserve, can only be forced before their “case” conditions, according to the landmark ruling of the US Supreme Court in 1935.
However, Trump often disputes political norms, including the dismissal of some independent regulators, actions that were disputed in court.
On Wednesday, the director of the Federal Housing Financial Agency Bill Pulte, who previously criticized Mr. Paul, urged him to investigate it.
“I ask Congress to investigate the chairman of the Jerome Powell, his political prejudice and his deceptive testimony of the Senate, which is enough to be removed” in the case “,” ” He posted on x.
Last week, Mr. Powell told the Senate that it reports on expenses and expensive features at the Fed headquarters “misleading and inaccuracy in many, many respect.”
