In an interview conducted on Sunday, Federal Reserve chairman Jerome Powell said Donald Trump did not have the power to fire him. Donald Trump has been conducting numerous political attacks on the federal reservist due to the increase in the interest rates and numerous multinational companies relocating to other countries with lower rates.
“The law is clear that I have a four-year term, and I fully intend to serve it,” Powell told the news show. Asked directly if he thought Trump could fire him, he said, “no.”
During the interview conducted by CBS news show“60 Minutes,” the federal reservist chairman said that the FED decided to pause the interest rates after it had increased tie rates four times in the year 2018. Jerome Powell also avoided discussing any topic related to the criticism of Donald Trump on the interest rate policy and if it had an impact in making the changes.
“It’s very important that the public understand that we are always going to make decisions based on what we think is right for the American people,” Powell said. “We will never, ever take political considerations into effect.”
Most of the united states former presidents have really avoided publically criticizing the federal reservist, but Donald Trump has not shy off from openly criticizing the FED for its numerous increase in interest rates and numerous tightening of the monetary studies.
Jerome Powell said that lots of changes are expected to be made in the following financial year and not even Donald Trump will affect his work.