Trump's US presidential election victory casts shadow over Federal Reserve

Quick Summary:

In an October interview with Bloomberg News Editor-in-Chief John Micklethwait, Trump subsequently said he doesn’t think he should be able to order the Fed what to do, but has the right to comment on the direction of interest rates.

Powell and other officials have repeatedly assured the public they aim to stay out of partisan politics and don’t take political considerations into account when setting monetary policy.

During Trump’s first term, he explored firing Powell, a move that would have been unprecedented and legally questionable, according to legal scholars.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Federal Reserve Fed policy Donald Trump Us fed US presidential election

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 22:07:14 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1006 words

Reading Time: 6 minutes read

Sentences: 38 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23449686

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