Trump Today: Trump praises Fed’s surprise interest-rate cut, saying market should be ‘thrilled’
President Donald Trump on Sunday night praised the Federal Reserve’s surprise move to cut interest rates to near zero, just a day after he said he had the power to demote or dismiss the central bank’s chairman.
Appearing in the White House briefing room just minutes after the Fed’s announcement, Trump said he was “very happy” with the action and that people in the market should be “thrilled.”
Trump has applied consistent pressure on the Fed to more aggressively cut rates, and has been critical of Chairman Jerome Powell.
On Saturday, Trump asserted he could dismiss Powell, whom he selected for the role.
“I think I have the right to remove. I have the right to also take him and put him in a regular position and put somebody else in charge. And I haven’t made any decisions on that,” Trump told reporters during a coronavirus briefing at the White House.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.