Donald Trump reportedly appears to have no problem with Federal Reserve Chair Jerome Powell serving the remainder of his term until May 2026.
Trump appointed Powell during his first term but the two clashed several times leading to the then 45th US president threatening to remove the Fed Chair from office.
Powell kept his post though and was reappointed to a second four-year term by President Joe Biden in 2022.
Citing a senior adviser to Trump who requested anonymity, CNN reports that the president-elect will likely allow Powell to keep his role once he returns to the White House.
The adviser says that Trump could always change his mind, but Trump and his economic team’s present view is to keep Powell in charge of the central bank as it pursues a policy of cutting interest rates.
Trump also said in an interview with Bloomberg in July that he will have Powell keep his role at least until 2026.
Powell also wants to keep his job. In a press conference on Thursday, Powell answered “no” when asked if he would leave his post before his term expires if Trump asked him to. He said that Trump can not fire him.
“Not permitted under the law.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
