December 22, 2018

President Donald Trump’s growing dissatisfaction with Federal Reserve Chairman Jerome Powell could be veering into dangerous territory: Late Friday, Bloomberg News, citing four unnamed sources, reported that Trump has discussed firing the central bank head.

With the Fed embarked on a campaign to tighten monetary policy, the president has repeatedly attacked Powell, reportedly fearful that a volatile market – and the attendant possibility of an economic downturn – could endanger his reelection prospects.

The president – prone as he is to Twitter tirades and harshly criticizing his antagonists – has been extremely vocal about his displeasure with rising interest rates. In October, Trump even went as far as to brand the Fed his biggest threat. In the wake of those remarks, White House Economic Advisor Larry Kudlow downplayed the idea that Trump would move against the Fed chair.

Read more:

https://www.cnbc.com/2018/12/22/wall-street-hits-trump-for-madness-on-possibly-firing-jerome-powell.html