US President Donald Trump on Wednesday (July 16) denied the message that he was planning to fire the chairman of the federal reserve Jerome Powell and push back against Bloomberg’s report, quoting a White House official claiming that Trump would probably do so.
“Such news is not true,” Trump told reporters.
“Highly unlikely … If there is no fraud”
In a moment, it rejects immediate measures, Trump said that in extreme circumstances, the removal of Powell will not completely eliminate.
“I don’t rule out anything, but I think it’s very unlikely if they have to go to fraud,” he said, referring to the criticism of the White House and Republican legislators to exceed the cost of the Federal Reserve in Washington, $ 2.5 billion in Washington, DC
Republican legislators more aggressive, says Trump
Trump acknowledged that with some congress republicans of conversations about the possibility of burning Powell, but he said that his own attitude was more cautious.
The US President said he spoke to some Republicans and are more aggressive than him.
Trump calls Powell a “terrible chair”
On Tuesday, Trump launched a fresh verbal attack on Powell and sharply criticized his performance and explained that no immediate action was planned.
Trump, when he talked to reporters, said Powell “doing a terrible job” and described him as a “terrible chair”. Notes mean the latest in a number of public critics that Trump equalized in Powell.
Fed points to Powell’s intention to serve a full time
In response to assembly speculation, the federal reserve official repeated Powella’s obligation to serve his current term, which ends on 15 May 2026.
Asked if the White House signaled any intention to remove Powell, the official simply pointed out the Powell’s earlier public statements that confirmed his plan to complete this period.
Powell faces control over US Fed HQS Renovation
The chairman of the Jerome Powell Federal Reserve, which was first nominated by President Donald Trump in 2017 and re -appointed President Joe Biden for the second term, faces new criticism from the White House of Trump to exceed the costs in the main project at the Fed Historical Headquarters.
The current Powell term takes place until 15 May 2026.
$ 2.5 billion renovation of sparks
The tension escalated last week after the White House intensified its criticism of the Fed expenditure. Russell Vought, Director of the Office for Management and Budget, sent a letter to Trump’s dissatisfaction and said that the President was “very concerned” by the increasing costs of reconstruction of $ 2.5 billion.
According to Voght, the functions such as “VIP canteen” and improved elevators have called what he called “exaggerated” spending unsuitable for government facilities.
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Powell pushes back, asks Ig Review
In response, Powell asked the Central Bank General Inspector to review the Renovation project, a step focused on demonstrating transparency and responsibility.
The Fed also published a detailed FAQ -style FALK on its website and refuted several VAAD requirements. The document tried to clarify the misconceptions of the building’s design functions and explain the process of budgeting after the project.
Trump’s pressures fed for cuts cuts because Powell resists concerns
Trump intensified his criticism of the chairman of the federal reserve chairman Jerome Powell and accused him of failing to reduce interest rates and urged his resignation. The President claimed that lower rates would reduce the cost of loans of the federal government, a point that has repeatedly emphasized in recent weeks.
For months Trump publicly railing against Powell and the Fed’s decision to maintain interest rates stable and claim that the current range of 4.25% to 4.5% is too high. They argue that rates cuts are necessary to promote economic growth and reduce the cost of financing federal debt.
Powell, however, pushed back and as a reason for their cautious attitude cited persistent inflation pressures. The central bank has repeatedly warned that the reduction rates too soon could kill the inflation, which eventually forced the Fed to take more aggressive steps later, which could even increase the cost of loans.
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