White House Previously Considered Demoting Fed Chair Powell

Credit: Wochit News
Published on June 18, 2019 - Duration: 00:52s

White House Previously Considered Demoting Fed Chair Powell

Reuters reports the White House earlier this year explored the option of stripping Jerome Powell of his Federal Reserve chairmanship and demoting him.

White House economic adviser Larry Kudlow declined to confirm or deny the report but said that U.S. President Donald Trump is not considering changing Powellโ€™s status.

Trump has complained that the Fed has weakened his economic and trade policies by keeping its policy too tight.

Trump picked Powell to replace Janet Yellen.


White House Previously Considered Demoting Fed Chair Powell

A JUNE 4, 2019, FILE PHOTO MAY 1, 2019 FILE PHOTO

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