Kathmandu. Us President Donald Trump has demanded the resignation of Federal Reserve Chief Jerome Powell. Writing a status on social network Truth, Trump said, “Too late, resign immediately” (Too Late, should resign immediately).
Powell, the head of the Fed, is a man appointed by former President Joe Biden. Trump has been critical of the Fed chief since he was elected president. Trump, who is running for president with the main slogan of ‘Make America Great Again’, has been putting forward one ambitious plan after another.
President Trump has now declared a trade war. Which Powell disagrees with. President Trump asked Powell to resign immediately, linking to a news report published in Bloomberg (Bloomberg) titled ‘Powell can be investigated by Congress’.
Powell has been accused of negligence by the US federal housing regulator about the maintenance of the central bank’s Washington headquarters. Trump nominated Powell as Fed chairman in his first term in office. Since then, he has repeatedly criticised her for not cutting interest rates, but it is unclear whether the president has the authority to remove her from office.
Despite the president’s continued criticism of Powell, he said earlier this year that he had “no intention of sacking him.” Trump wants the Federal Reserve to cut interest rates to boost economic growth.
But Powell doesn’t agree with Trump.
Responding to a question about the rate cut, Powell said, “If it had not been for the impact of Trump’s tariff policies, the Fed would have already cut rates.” ”
Powell was asked questions during a meeting of central bankers in Portugal. If the Trump administration had not announced plans to sharply increase tariffs in countries around the world, would US rates have been cut again this year? Powell replied, “I think that’s right. “
Powell was renominated to the position by then-President Joe Biden and his current term ends in May 2026. In Nepal, as in the US, there are issues of non-coordination between the finance minister and the governor of the Rastra Bank. Efforts are also being made to suspend the governor and the government.
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