Federal Reserve Chairman Jerome Powell has kept interest rates too high and is expected to leave his position “within eight months”, US President Donald Trump said today, July 22.
Speaking at a White House press conference following a meeting with Philippine President Ferdinand Marcos, Trump remarked that he doesn’t think Powell has done a good job, but he’ll be leaving soon.
His comments follow remarks by Treasury Secretary Scott Bessent, who stated there is no immediate need for Powell to resign, adding that the Fed Chair’s legacy should focus on recalibrating the central bank’s non-monetary policy functions.
Federal Reserve Chairman Jerome Powell has kept interest rates too high and is expected to leave his position “within eight months”, US President Donald Trump said today, July 22.
Speaking at a White House press conference following a meeting with Philippine President Ferdinand Marcos, Trump remarked that he doesn’t think Powell has done a good job, but he’ll be leaving soon.
His comments follow remarks by Treasury Secretary Scott Bessent, who stated there is no immediate need for Powell to resign, adding that the Fed Chair’s legacy should focus on recalibrating the central bank’s non-monetary policy functions.
