Fed, Donald Trump and Jerome Powell
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Federal Reserve Chair Jerome Powell intends to ignore Donald Trump’s constant calls for him to resign, believing that doing so would damage the independence of the U.S. central bank, according to a new report.
Trump wants to replace Jerome Powell with a Fed chair who will do what he wants. But that still may not produce the steep cuts Wall Street is counting on.
The news was first reported by Bloomberg, citing sources familiar with the matter, which said Trump discussed the plan with GOP lawmakers in Congress on Tuesday.
Governor Christopher Waller's comments come as tensions between Fed Chair Jerome Powell and President Donald Trump have reached a boiling point in recent days.