US Fed chairman Jerome Powell says will not leave early if asked by Trump

Quick Summary:

Powell was speaking at a press conference after unveiling a quarter point interest rate cut.

His comments underscore the delicate balancing act policymakers may have to play in the next Trump administration, given the US president-elect’s recent criticism of the Fed.

The president-elect has also said he would like “at least” a say over setting Fed interest rates, something not currently allowed under the bank’s dual mandate from Congress to act independently to tackle both inflation and unemployment.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Federal Term Jerome Trump Serve Reserve Interest First Chairman Appointed Powell

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 05:24:45 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 361 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 22 words per sentence (average)

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

Copyright Owner: © The Straits Times

News ID: 23465334

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 21 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #25

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