Trump says he doesn't plan to remove Fed chairman Jerome Powell

[BumRushDaShow]

Source: CNN Business

Published 12:38 PM EST, Sun December 8, 2024


CNN — President-elect Donald Trump said in an interview that aired on Sunday that he has no plans to remove Federal Reserve Chair Jerome Powell. Appearing on NBC’s “Meet the Press with Kristen Welker,” Trump was asked if he would try to replace Powell.

“No, I don’t think so. I don’t see it,” Trump said. “I think if I told him to, he would. But if I asked him to, he probably wouldn’t. But if I told him to, he would.” Welker followed by asking Trump if he had plans to ask Powell to resign. Trump responded, “No, I don’t.”

The comments mark the first time since the presidential election that Trump has publicly backed Powell. In July, Trump said he would not fire Powell if he won the election and in November, a senior adviser to Trump reaffirmed that Trump would likely allow Powell would finish his term as chairman.

Trump, however, has threatened to remove Powell from his post on several occasions after the central bank raised interest rates in 2018 and even called Powell “the enemy” in 2019. In March 2020, Trump told reporters he had the “right to remove (Powell) as chairman” and that “he has, so far, made a lot of bad decisions, in my opinion,” after markets tanked amid the pandemic.

Read more: https://www.cnn.com/2024/12/08/business/trump-fed-chair-jerome-powell/index.html

[sakabatou]

1. Now watch as he removes Powell soon

[bucolic_frolic]

2. You stole the thought right out of my head. You're telepathic! /nt

[PortTack]

3. Ha! He can't remove him

[Irish_Dem]

5. Trump can do whatever he wants. Who will stop him?

He changes the locks on Powell's doors and has officers escort him to the parking lot.

[Irish_Dem]

4. Will he remember what he said tomorrow?

And chances are he is lying.

[Abstractartist]

6. Can't do it

The president may not have the legal authority to dismiss a chairman before the end of a term, although this assumption has never been tested in court. The current chairman is Jerome Powell, who was sworn in on February 5, 2018.

We’ll see

[BumRushDaShow]

7. He could remove him "for cause" from the Board of Governors

if he has justification. That is what was done to Comey (the FBI Director also being a "termed" position for 10 years). There was justification for Comey but not so much for someone like Powell.

[delisen]

8. Powell has announced he will not leave if asked

Trump is trying to give he impression he could remove Powell but chooses not to do so.

It is a trick he uses to give the impression he is generous and merciful and to project that he has more power than he actually has

[littlemissmartypants]

10. Trolling us is a game he loves to play. ...

And so many fall for it. Repeatedly.

[wolfie001]

9. He'll be the convenient fall guy when it all goes to shit

Maybe Dump's most "brilliant" move.