NEWS： Powell said the Federal Reserve was not affected by short-term political pressur
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"The Fed is not affected by short-term political pressure, which is what we usually call "independence,"" Powell said in a speech to the Foreign Relations Committee. But Powell pointed out that he and his colleagues are "tangled in" whether the current economic risks require the Fed to cut interest rates.
Trump’s anger at the Fed is getting heavier and heavier. Fearing US trade disputes and other economic risks, the Fed suspended its interest rate hike this year and said last week that it may cut interest rates as early as next month.
Trump, who just said that he had the right to demote Powell last weekend, said on Twitter that the Fed "does not know what he is doing" and added that the Fed "plus" due to low inflation and slowing global economic growth. The interest rate is too fast, "get things done."
A senior US government official said on Tuesday that Trump believes that the dollar is too strong, the euro is too weak, and believes that if the Fed cuts interest rates, the situation may be eased.
The official also said that the White House did not plan to demote Fed Chairman Powell. Some legal experts say that Trump is difficult or impossible to fire Powell. Powell was nominated by Trump at the end of 2017 and took over as chairman of the Federal Reserve in early 2018.
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