Former US President Donald Trump will not remove central bank chief Jerome Powell if he wins the November 5 election.
This is what Trump says in an interview with the media outlet Bloomberg.
Trump himself appointed Powell as head of the US Federal Reserve in 2018.
Trump later lashed out at Powell for raising interest rates during his first year in office.
Trump even threatened to fire the central bank governor, but he later concluded that it was doubtful whether he actually had the authority to do so.
The central bank’s purpose is to conduct the US’s monetary policy by, for example, raising or lowering interest rates. This is done to ensure stability in the financial system.
Powell has been appointed head of the central bank for a period that runs until 2026. After that, he has two years left as a member of the central bank’s board.
It is unusual for a US president to publicly criticize the head of the country’s central bank.
Republican Trump’s successor, Democrat Joe Biden, has rarely commented on the central bank’s work.
In the interview, Trump also calls on the central bank not to lower interest rates before the presidential election in November.
Powell has been asked several times over the past week whether the election has any influence on the central bank’s policy. It has not, Powell said Monday.
In the interview, Trump also says that he is considering appointing Jamie Dimon, CEO of the bank JPMorgan, as Treasury Secretary.
JPMorgan declined to comment on Trump’s statement.
In the past, Trump has otherwise described Dimon as a ‘highly overrated globalist’.
Trump also says in the interview that he will lower the corporate tax to 15 percent from the current 21 percent.
ritzau
Source: politiken.dk
