Fed Chair Powell's job is safe 'at the present time,' Larry Kudlow says

[DonViejo]

Source: CNBC


PUBLISHED AN HOUR AGO UPDATED 33 MIN AGO

Jacob Pramuk
@JACOBPRAMUK

KEY POINTS

Fed Chair Jerome Powell’s job is safe at the moment, White House economic advisor Larry Kudlow says.

President Donald Trump has repeatedly criticized the central bank chief for recent interest rate hikes.

Federal Reserve Chair Jerome Powell’s job is safe — at least for the moment.

The Trump administration is making “no effort” to remove the central bank chief, top White House economic advisor Larry Kudlow said on Tuesday.

“I will say that unequivocally, at the present time, yes he is safe,” the National Economic Council director said at CNBC’s Capital Exchange event.

President Donald Trump has repeatedly lashed out at Powell for the Fed’s interest rate hikes during the president’s tenure. He has urged the central bank to slash rates — which market watchers think it could do later this month.


Read more: https://www.cnbc.com/2019/07/09/fed-chair-jerome-powells-job-is-safe-larry-kudlow-says.html

[Freethinker65]

1. So wait five minutes, or until Trump wants some ego boosting market manipulating headlines...

[thesquanderer]

2. yeah, "safe at the present time" sends him a message of "not safe" (nt)

[ScratchCat]

3. Again, Trump has already been told

with 100% certainty that the President can't fire the Fed Chief. He doesn't have the power. That's why we heard the story about them kicking around the idea of "demoting" him, which again, probably 75% of his staff said wouldn't pass legal muster either.

And Congress will not approve some person who Trump picks who has agreed to lower rates for a bribe. This wouldn't even be partisan; every single one would see it for what it is, a ridiculous attempt to manipulate the economy.