Republican senator backs Powell over Trump attacks on Fed

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Donald Trump’s attack on Je Powell, a Republican member of the Senate Committee, supervised by the Federal Reserve, said that no president has the right to dismiss the US central bank head.

“I don’t think the President, the President, the Federal Reserve Chairman has the right to remove the chairman,” the Louisiana Republican John Kennedy, who is sitting on the Senate Banking Committee, said on Sunday at the NBC. “I think the Federal Reserve should be independent.”

Just a few days after Trump hints that these comments came that he believed that he had the power to shoot PowellOn Thursday the Oval office told reporters: “If I want to get him out, he will be out really fast, trust me.”

The relationship between the US President and the Chairman of the Central Bank has been reluctant to reduce the interest rate on Fed’s interest rate since Trump returned to the White House in January.

Rate-sets, including Powell, say Trump’s tariffs threatened to increase and increase prices-Wednesday described his chief as “challenging scene” so that it would be forced to protect its inflation-loving credentials above all.

The Fed Chair comment, who promised to stay in the office until his tenure in May 2026, led Trump to take the truth on Thursday that “the completion of Powell cannot come quite fast!”

Kennedy defended Fed’s focus on Sunday’s inflation: “My experience with J Paul is that he has got Tiger blood. He is about to do what he thinks, and he will not go down in history as the Federal Reserve Chairman, which he would like to be wild in March, and what he wanted to do.”

In inflation Personal expenses He reached its highest level in the early 9s of 2022 and 2 percent of the central bank is above 2.5 percent of the goals.

Something Officials The central bank seems to increase the tariffs after this year to increase the annual price by 5 percent – if Trump can reproduce Levis on the scale announced on April 2.

Chicago Fed President Asan Golsby on Sunday said in the CBS that many businesses are “pre-anxious purchase” of products that can be influenced by tariffs, which means “activities can be artificially higher” before the drop-off in summer “.

Asked about Trump’s attack on Powell, Golsbi mentioned that in countries where the independence of the central bank was challenged, “the inflation rate is high, the growth is slow, the market is worse”.

“I strongly hope that we do not take ourselves to an environment where financial freedom is questioned,” said Golsby. “This will reduce the credibility of the fede.”