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U.S. President Trump said Sunday on NBC's Meet the Press interview that he had the right to demote Federal Reserve Chairman Powell, but did not threaten to do so.
"I never threatened to demote him," Trump said. "I can do that if I want, but I haven't suggested it."
Trump has been pressuring the Federal Reserve for months to cut interest rates. After several interest rate hikes by the Federal Reserve, Trump said last October that the Federal Reserve under Powell was "crazy".
On Wednesday, the Federal Reserve said it was ready to cut interest rates as early as next month in response to growing global and domestic economic risks. The Federal Reserve has kept interest rates unchanged for the time being.
A day later, Trump said the Fed should cut interest rates faster, but "you can't do everything right." In the end, Powell "may do the right thing," he added. Let's see what he'll do.


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