Synopsis
US Highlights News Updates: Donald Trump says Federal Reserve’s Jerome Powell will be out in 8 months
US Highlights News Updates: US Federal Reserve Chair Jerome Powell is a “numbskull” who has kept interest rates too high, but he will be out in eight months, President Donald Trump said at a news conference on Tuesday.
“I think he’s done a bad job, but he’s going to be out pretty soon anyway. In eight months, he’ll be out,” he said from a meeting at the White House with Philippine President Ferdinand Marcos Jr.
Powell’s term as Fed chair runs through May 15, and he has repeatedly said he will not leave the post early. Eight months run until mid-March, and it was not immediately clear why Trump picked that time frame.
Trump has been hammering at Powell for months for not cutting rates and has frequently raised the possibility of ousting him, while also saying that firing him would be “unlikely.”
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