Trump rages on the president of Fed Reserve to reduce interest rates

Donald Trump: US President Donald Trump is currently considering ways to evacuate Federal Reserve Chairman Jerome Pavel. His economic advisor gave this information at the White House on Friday. Asked whether Powell’s dismissal is possible? National Economic Council director Kevin Haset while replying to this said, the President and his team are thinking about it. Earlier, Trump attacked Powell to reduce the interest rate in America.

Removing Pavel is not so easy

Explain that removing Pavel from the post is not so easy for Trump because the Fed Reserve is an independent body. According to the 1935 US Supreme Court’s decision, Trump has limited rights to sack the Fed Chief. In such a situation, the law can be dismissed only by giving any reason to the Fed Chief. These include misconduct, misconduct or unknown.

Pavel not in a hurry to reduce interest rate

Trump, furious on Pavel, is criticizing him fiercely these days. It was Trump who appointed Pavel as the chairman of the American Federal Reserve during his first term and now Trump is accusing him of doing politics.

In an event held in Chicago on Wednesday last Wednesday, Pavel had said that Trump has increased the tariffs more than expected. This will increase the prices of things, which can create a situation of inflation and economic uncertainty. Powell took a tough stance and said that he is not in a hurry to reduce the interest rates. First he wants to see what effect Trump’s tariff policy has on the economy.

Pressure to reduce trump interest rate

Here the trump is being pressured to reduce interest rates. After the European Central Bank’s interest rates were reduced, Trump said, Powell should have reduced the interest rates like ECB long before and now it should definitely be reduced. Oil prices and grocery goods prices have come down, eggs have become cheap. America is becoming rich due to tariff. Powell’s dismissal cannot be so soon.

Also read:

ICICI Bank will get so much crores of rupees in preparing to sell its 18.8 percent stake in this company