US President Donald Trump has taken the pressure on Fed Chair Jerome Powell, whom he has long criticized, hinted at impeachment, and called for his resignation, a step further.
Trump will make a surprise visit to the Fed today. Details of the visit are being kept under wraps, and it’s not yet known whether there will be a private meeting with Powell.
According to the statement made by the White House, Trump will go to the FED building at 23:00 Turkish time.
As is well known, Donald Trump has been constantly pressuring Fed Chair Powell. Trump has repeatedly criticized Powell for not lowering interest rates sufficiently, calling him an “idiot.”
Trump had publicly hinted that he was considering firing Powell. The day before, Trump had stated that Powell should cut interest rates by 3%, saying, “He’ll be gone soon anyway.”
Trump, who insulted Powell in his statements, such as calling her stupid and awful, stated that Powell was politically motivated and accused her of causing great financial losses to the country and doing a bad job.
Trump, who has targeted Powell many times, has begun holding talks with potential Fed chair candidates as Powell’s term approaches.
While US Treasury Secretary Scott Bessent confirmed this, Bessent said in a statement to Fox News that the candidates for the next Fed chair are expected to be announced in December or January.
*This is not investment advice.