Trump, Powell and Fed
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Former Commerce Secretary Wilbur Ross believes that President Donald Trump attempting to unseat Federal Reserve Chair Jerome Powell would result in a lengthy legal battle and few benefits for the president.
Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.
The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.
The President has repeatedly criticized Powell for not cutting interest rates, and he escalated his attacks on the Fed chair last week.
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Benzinga on MSNTrump’s Threat to Fire Powell Risks Undermining Fed Independence, Destabilizing MarketsPresident Donald Trump’s renewed threats to remove Federal Reserve Chair Jerome Powell are intensifying legal and economic uncertainty, according to CNBC. Legal experts say Trump lacks clear authority to remove the Fed chair without cause,