Trump’s advisers may meet Fed’s Powell to correct market aversion


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Trump’s advisers may meet Fed’s Powell to correct market aversion

On Sunday, the 23rd of December, the Wall St. Journal had reported that, the advisers of US president Donald Trump had been in talks of arranging a meeting between US president and Fed chair Jerome Powell in the coming weeks. The meeting had appeared to be upcoming in the wake of much-disputed monetary policy, which had been draining the Wall St.

continuously. Previously, the Fed chair Jerome Powel repeatedly ignored the calls of US lawmakers and US president Donald Trump to stay away from his aggressive rate policy. In the face of agonizing angsts in the Wall St.

and global stocks, Trump had recently been highly critical of the Fed, as they had raised the interest rate for the fourth time this year. Meanwhile, Trump had labelled the “Fed”, as the only problem in the US economy. Apart from the recent criticism, Trump had frequently attacked Powel, which seemed to have little impact on Fed chair.

According to US parliamentary committee, the US president holds the power of ousting the chairman of Federal reserve, if situation demands. A report published on Saturday, December 22nd, also revealed that the US president had been discussing informally about the firing of Fed chair. While the firing of Fed chair might be observed as an interference to US central bank, the firing might not be cheered by all the parties. However, the Federal Reserve and White House declined to comment regarding the arrangement of a meeting between Fed chair Jerome Powell and US president Donald Trump.