Donald Trump has expressed frustration towards Jerome Powell, indicating a desire to remove him from his role as chair of the Federal Reserve. During a recent meeting with House Republicans, Trump showcased a draft letter to dismiss Powell. Following this meeting, he denied any intentions to fire Powell but criticized his delayed interest rate cuts. He claimed Powell acted favorably towards Democrats by cutting rates before the election. Trump’s disappointment stems from Powell's original appointment by Barack Obama and subsequent reappointment by Biden, dubbing Powell a 'terrible Fed chair.'
Trump has publicly berated Powell, showing a draft letter to fire him during a meeting with House Republicans, although later denying plans to do so.
Trump criticized Powell for being 'too late' on interest rate cuts, suggesting that the Fed chair only acted before the election to assist Democrats.
Trump's assertion of being surprised by Powell's initial appointment and subsequent extension by Biden reveals deep dissatisfaction with his leadership at the Fed.
Despite Trump’s claims, the timing of Fed rate cuts and political implications suggest that his criticisms may be based on misunderstandings and frustration.
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