US President Donald Trump has sparked a new wave of debate in Washington by openly targeting Fed Chair Jerome Powell in his statements last night.
Trump said, “People are trying to stop me from firing Powell,” while adding that both expected and unexpected candidates for the Fed chair were on the agenda.
Trump also hinted that a possible change was imminent, saying, “I hope Powell resigns now. I pretty much know who the new Fed Chair will be.”
With the US government shutdown ending, delayed economic data will begin arriving this week at the Fed. The Fed will revisit interest rate cut discussions at its critical meeting in about three weeks.
However, data delays still leave the picture uncertain. The Bureau of Labor Statistics (BLS) announced that the delayed September employment report will be released on Thursday. The White House announced that some October data may be skipped entirely, and that November data collection may be hampered by the shutdown.
*This is not investment advice.