Event Overview
'Numbskull, moron and too stupid': Trump and Powell's biggest clashes
Donald Trump has consistently criticized Federal Reserve Chair Jerome Powell for not lowering interest rates quickly enough, using derogatory terms such as 'numbskull' and 'moron' to describe him. This contentious relationship has been highlighted as one of the most fractious between a U.S. president and a central banker in history. Powell's term as chair is nearing its end, and he plans to remain on the Federal Reserve board after his chairmanship concludes, amid ongoing tensions with the Trump administration (BBC News, PBS NewsHour).
The ongoing conflict between Trump and Powell could influence the Federal Reserve's leadership transition, as the Senate Banking Committee has approved Kevin Warsh's nomination to replace Powell, reflecting the political stakes involved in monetary policy decisions (PBS NewsHour).
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'Numbskull, moron and too stupid': Trump and Powell's biggest clashes
It has been one of the most fractious relationships between an American president and a central banker in history. Since returning to the White House, Donald Trump has repeatedly attacked Federal Reserve chair Jerome Powell - mainly because interest rates have not fallen as quickly as the 47th president of the US.
WATCH: Committee sends Kevin Warsh's nomination for Fed chair to full Senate vote
Christopher Rugaber, Associated Press Christopher Rugaber, Associated Press WASHINGTON (AP) — The Senate Banking Committee voted on party lines Wednesday to approve Kevin Warsh as the next chair of the Federal Reserve to replace Jerome Powell, a long-time target of President Trump's insults for not cutting borrowing.
WATCH LIVE: Fed Chair Powell holds briefing on interest rate decision as his term nears end
Christopher Rugaber, Associated Press Christopher Rugaber, Associated Press WASHINGTON (AP) — Jerome Powell plans to remain on the board of the Federal Reserve after his term as chair ends next month "for an undetermined period of time," saying the "unprecedented" legal attacks by the Trump administration have put the.