President Trump criticized Fed Reserve Chair Jerome Powell, stating that his “termination cannot come fast enough” due to his reluctance to cut interest rates.
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00:00President Trump sharply criticized Federal Reserve Chair Jerome Powell, stating that his, quote,
00:05termination cannot come fast enough due to Powell's reluctance to cut interest rates.
00:10The chairman had previously warned these tariffs could lead to higher inflation and slower economic growth,
00:15prompting the Fed to maintain current monetary policy rates.
00:19Despite the president's public disapproval, legal experts note that the president lacks clear authority
00:24to remove the Fed chair without cause, and Powell has reaffirmed his intention to serve out his term
00:29ending in 2026. The situation has heightened concerns about political interference in the
00:35Fed's independence, which could impact financial stability and investor confidence.