Trump considered firing Fed chairman Powell after recent rate hike: report

REUTERS
TOKYO
Published 22.12.2018 10:56
Updated 24.12.2018 21:50
Federal Reserve Chairman Jerome H. Powell announces the Fed's decision to raise interest rates by a quarter point at a news conference following a Federal Open Market Committee meeting in Washington, DC, USA, 19 December 2018. (EPA Photo)
Federal Reserve Chairman Jerome H. Powell announces the Fed's decision to raise interest rates by a quarter point at a news conference following a Federal Open Market Committee meeting in Washington, DC, USA, 19 December 2018. (EPA Photo)

U.S. President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell, Bloomberg reported on Saturday, citing sources.

Trump's frustration with the U.S. central bank chief intensified after this week's interest rate increase and months of stock-market losses, the news agency said, citing four unidentified people familiar with the matter.

The president has talked privately about firing Powell many times in the past few days, it said, citing two of the people.

White House spokesmen declined to comment, as did Federal Reserve spokeswoman Michelle Smith, Bloomberg reported.

The Fed raised interest rates on Wednesday for the fourth time in 2018, and signaled "some further gradual" rate increases ahead.

Global financial markets, including Wall Street stocks, had been hoping for a more dovish policy outlook and sold off broadly.

The Dow had the worst week since the 2008 financial crisis, while the Nasdaq sank into bear market territory.

Any attempt to fire Powell could be seen as undermining the central bank's independence from the administration.

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