Tag: Jerome Powell
Two days after Donald Trump became the first American since Grover Cleveland to win nonconsecutive presidential elections, the Federal Reserve announced a quarter percent cut in interest rates. Following this announcement, Fed Chairman Jerome Powell held a press conference where he said that he would not comply with any presidential request that he step down before his term ends in May of 2026.
Former President and current Republican Presidential Nominee Donald Trump recently renewed his criticisms of the Federal Reserve. He suggested that, if he returns to the White House next year, he will push Congress to pass legislation giving the president at least a say in the Fed’s decisions regarding interest rates.
Or, will the ideology behind it, simply descend into a zero sum game of big power Tech rivalry on a par with 19th Century great power rivalries?
Federal Reserve Chairman Jerome Powell recently announced that the Fed is abandoning “inflation targeting” where the Fed aims to maintain a price inflation rate of up to two percent.
