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Fed meets as renewed pressure on Powell comes from Trump

27 days ago   |   By Reuters

Lawyers at the White House earlier this year explored the legality of stripping Jerome Powell of his Federal Reserve chairmanship, demoting him to be just one of as many as seven governors of the U.S. central bank, according to a report from Bloomberg News published on Tuesday.
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The White House reportedly looked into demoting the Federal Reserve chief

The White House reportedly looked into demoting the Federal Reserve chief

27 days ago   |   By Business Insider

Bloomberg reported Tuesday that the White House Legal Counsel examined whether it was possible to strip Federal Reserve Chairman Jerome Powell of his position, but keep him on the Board of Governors.
President Donald Trump has repeatedly lambasted the independent Fed, arguing that its policies have held back growth.
Bloomberg reported that Trump had discussed firing Powell in December, the last time the Federal Open Market Committee increased its benchmark interest rate.
The White House reportedly looked into demoting Federal Reserve Chairman Jay Powell in February, a few months after the...
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