Trump, Jerome Powell and Fed
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Mohamed El-Erian and Jeremy Siegel think Jerome Powell's resignation would ultimately bolster the independence of the central bank.
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In the battle over the future of Federal Reserve Chair Jerome Powell, Treasury Secretary Scott Bessent appears to be focused on the long game. In an interview with Fox Business News on Tuesday, Bessent said he was not pushing Powell to leave his post.
The Federal Reserve’s independence from political interference, viewed as sacrosanct inside the central bank, is under siege.
Trump ally Rep. Anna Paulina Luna claims Federal Reserve Chairman Jerome Powell committed perjury during Senate testimony and in communications with the Office of Management and Budget.
El-Erian, president of Queens' College at Cambridge University, said he was aware that his view did not align with the Wall Street consensus.
Federal Reserve Chair Jerome Powell is facing pressure from all sides as the Fed’s banking regulation conference kicks off this week. President Trump has been threatening to fire Powell while
There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.