Trump says he has no plan to fire Fed’s Powell despite investigation

U.S. President Donald Trump said on Wednesday he has no plans to fire Jerome Powell despite a Justice Department criminal investigation into the Federal Reserve chair, but it was “too early” to say what he would ultimately do.

Why it matters

Trump has heaped public pressure on Powell, whom he appointed as Fed chair during his first term in office, for not lowering benchmark interest rates either as quickly or as far as the Republican president prefers. Ahead of November’s midterm congressional elections, voters say cost-of-living issues are a key issue, and they rate Trump’s handling of it poorly.

Read More