UNITED STATES, WASHINGTON (OBSERVATORY) — US President Donald Trump criticized Jerome Powell, head of the Federal Reserve System, for the insufficient rate reduction, in his opinion.
“Powell and the Fed again failed. No courage, no sense of reality, no vision (situation)! A terrible communicator!” – Trump wrote on Twitter.
The US Federal Reserve System (FRS), following a meeting of September 17-18, lowered its base interest rate by 25 points on Wednesday to 1.75-2% from 2-2.25% per annum. The decision coincided with the forecasts of most analysts.
Trump has repeatedly criticized Powell and hinted that he could dismiss the head of the Fed, although lawyers disagree on whether the president has such powers.
At the same time, Trump has the right not to extend Powell’s powers, although he entered the four-year term only in February 2018. Earlier, Trump called on the Fed to lower the base rate “to zero or lower.”
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
OBSERVATORY NEWS — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.
Contact us: [email protected]
Stay connected with News Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.
We are NEWS OBSERVATORY — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes OBSERVATORY possible came from you.