Tensions between the White House and the U.S. central bank have escalated, as Donald Trump signaled he could move to remove Jerome Powell if the current Federal Reserve chair does not step aside following the appointment of a successor. Speaking on Wednesday, Trump stated that Powell would have to be dismissed if he remains in…
Asian stocks rallied sharply on Wednesday, following Wall Street’s lead, after U.S. President Donald Trump made comments that soothed investor concerns over Federal Reserve independence and signaled a potential softening in the ongoing U.S.–China trade war. Markets had been on edge earlier this week after Trump publicly criticized Fed Chair Jerome Powell—calling him a “major…
President Donald Trump has intensified his criticisms of the US Federal Reserve, suggesting he might attempt the unprecedented—removing its chair, Jerome Powell. The remarks have thrown a spotlight on a fragile yet critical principle of American governance: the independence of the central bank. Trump, no stranger to attacking institutions he sees as obstacles, has made…
