Trump: I hope Federal Reserve Chairman Powell resigns
Trump stated that he would choose someone who wants to cut interest rates as Powell's successor. He also expressed a desire for Federal Reserve Chairman Powell to resign. Trump referred to Powell as a stubborn mule and a stupid person
On Friday, U.S. President Trump criticized Federal Reserve Chairman Powell again. Recently, due to the Federal Reserve's decision not to cut interest rates at the June meeting, Trump's attacks on Powell and the Federal Reserve Board have been frequent and sharp.
On the same day, he reiterated his previous point, stating that if Powell cuts interest rates, financing costs would become cheaper.
A few hours later, he expressed his hope that Federal Reserve Chairman Powell would resign. "I would be very happy if he wanted to resign." He also called Powell a stubborn mule and a stupid person.
He will choose a successor to Powell who wants to cut interest rates. "If I think someone will maintain the current interest rate level or do nothing, I will not appoint them. I will appoint someone who wants to cut interest rates, and there are many such people."
Analysis points out that Trump's mention of the desire to cut interest rates directly touches on the core of the Federal Reserve's independence
