Trump said in an
interview with Fox Business Network, "I think he will do something,
perhaps to help the Democrats," referring to the presidential elections
expected in November.
interest rates
Trump is likely to face
current President Joe Biden, who is currently highlighting positive economic
data, as part of his efforts to fight an arduous battle to remain in the White
House.
Under Powell's
leadership, the bank has sought to combat rising inflation by raising interest
rates, and recently voted to keep interest rates steady while signaling cuts to
come.
In response to a
question about who might succeed Powell at the head of the bank, Trump said
that he would have "two options," adding, "I can't tell you
right now."
Trump also indicated that he believes that Powell is trying to lower interest rates in order to elect certain people, noting that the “central bank” of the US Federal Reserve operates under a mandate that gives it independence from Congress and the White House, but US presidents are responsible for nominating a president for the bank every four years.
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