{"id":123321,"date":"2024-11-08T03:52:09","date_gmt":"2024-11-07T20:52:09","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=123321"},"modified":"2024-11-08T03:52:09","modified_gmt":"2024-11-07T20:52:09","slug":"trump-is-likely-to-allow-fed-chair-to-serve-remainder-of-his-term-adviser-says","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=123321","title":{"rendered":"Trump is likely to allow Fed chair to serve remainder of his term, adviser says"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p>\n    <cite class=\"source__cite\"><br \/>\n      <span class=\"source__location\" data-editable=\"location\">Washington<\/span><br \/>\n      <span class=\"source__text\" data-editable=\"source\">CNN<\/span><br \/>\n        \u00a0\u2014\u00a0<br \/>\n    <\/cite>\n<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j1dmk003q2cqk72are9iw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            President-elect Donald Trump remains likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump who requested anonymity to describe private conversations.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn00073b6mpda2h52j@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The adviser cautioned that Trump could always change his mind, but his present view \u2014 and that of Trump\u2019s economic team \u2014 is that Powell should remain atop the central bank as it pursues its policy of cutting interest rates. Trump in July told Bloomberg he had <a href=\"https:\/\/www.bloomberg.com\/features\/2024-trump-interview\/\" target=\"_blank\" rel=\"noopener\">intended to keep Powell<\/a> in his role at least for the duration of his term.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37r7q6p0000356moo37gp84@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Still, Powell was peppered with questions about his job security during his first post-election press conference Thursday. Powell issued a terse \u201cNo\u201d in response to a question about whether he would leave his Fed post before his term is up if President-elect Donald Trump asked him to. Powell later clarified that he believes Trump cannot fire him.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37r9n2v0005356maxsybbmw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201dNot permitted under the law,\u201d Powell said.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn00083b6mgqtb34x0@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump appointed Powell, a Republican former private equity executive who served on the central bank\u2019s governing board, to its top spot in 2018.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn00093b6mnzt61mqc@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            President Joe Biden reappointed him to a second four-year term.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn000a3b6m3ohjwfyh@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Gary Cohn, the Goldman Sachs alum who served as economic policy director during Trump\u2019s first administration, is said to want the job, but former Trump officials have said the fact that <a href=\"https:\/\/www.cnn.com\/2018\/03\/06\/politics\/gary-cohn-white-house-tariffs\/index.html\">Cohn resigned in protest over Trump\u2019s steel tariffs<\/a> makes it highly unlikely he\u2019d get it.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn000b3b6merwbll54@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Among the names mentioned by sources in touch with the Trump transition are Kevin Warsh, who served for five years on the bank\u2019s board of governors and advised Trump during his first term; as well as Trump\u2019s former chief economist Kevin Hassett.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn000c3b6mflf6w7ob@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            In July, before Trump was elected, the Fed chair was asked whether he intended to serve out the remainder of his term, and he said, unequivocally, \u201cYes.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn000d3b6mvjjxi3r1@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump has frequently aired frustrations with Powell and occasionally threatened to remove the Fed chair from his post, which no president has ever done.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j2rxn000e3b6mz01e3xex@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump has also criticized what he perceives as a lack of transparency by the Fed, which conducts its policy deliberations in private and releases the notes from those discussions weeks later.  CNN has reported that Trump aides have suggested he would like real-time release of those minutes and economic reports and for the meetings to be conducted on-camera.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j1fav00003b6mdy2tt4c1@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump and Powell clashed several times during his first term, with the president-elect threatening to fire him from the post on several occasions.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j6wsx00003b6myj9u0qte@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            In 2018, Trump said he was considering replacing Powell with a new Fed chair after the central bank raised interest rates. A president, however, <a href=\"https:\/\/www.cnn.com\/2024\/11\/06\/economy\/fed-rates-economy-trump-powell\/index.html\">cannot easily remove a Fed chair<\/a> once confirmed unless they break the law.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j6bbz000m3b6m6zamcd96@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            After markets tanked at the onset of the pandemic in March 2020, Trump told reporters he had the \u201cright to remove (Powell) as chairman,\u201d adding that \u201che has, so far, made a lot of bad decisions, in my opinion.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j6bbz000p3b6mqdt22sv9@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            More recently, Trump also said the Fed chair is among the easiest jobs in the government. \u201cYou show up to the office once a month and you say, \u2018Let\u2019s flip a coin,\u2019 and everybody talks about you like you\u2019re a god,\u201d Trump said last month at an event hosted by the Economic Club of Chicago.\n    <\/p>\n<div data-uri=\"cms.cnn.com\/_components\/image\/instances\/cm37jk79s000z3b6mahztrutl@published\" class=\"image image__hide-placeholder\" data-image-variation=\"image\" data-name=\"GettyImages-869483832 copy.jpg\" data-component-name=\"image\" data-observe-resizes=\"\" data-breakpoints=\"{\" image--eq-extra-small=\"\" data-original-ratio=\"0.6666666666666666\" data-original-height=\"2000\" data-original-width=\"3000\" data-url=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/gettyimages-869483832-copy.jpg?c=original\" data-editable=\"settings\">\n<div class=\"image__container \" data-image-variation=\"image\" data-breakpoints=\"{\" image--eq-extra-small=\"\">\n       <picture class=\"image__picture\"><source height=\"2000\" width=\"3000\" media=\"(min-width: 1280px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/gettyimages-869483832-copy.jpg?q=w_1110,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"2000\" width=\"3000\" media=\"(min-width: 960px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/gettyimages-869483832-copy.jpg?q=w_1015,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"2000\" width=\"3000\" media=\"(min-width: 480px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/gettyimages-869483832-copy.jpg?q=w_1160,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"2000\" width=\"3000\" media=\"(max-width: 479px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/gettyimages-869483832-copy.jpg?q=w_680,c_fill\/f_webp\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/gettyimages-869483832-copy.jpg?q=w_1110,c_fill\" alt=\"President-elect Donald Trump appointed Jerome Powell to lead the Federal Reserve in November 2017. President Joe Biden reappointed him five years later for another term as Fed Chair that is set to expire in 2026.\" class=\"image__dam-img image__dam-img--loading\" onload=\"this.classList.remove('image__dam-img--loading')\" onerror=\"imageLoadError(this)\" height=\"2000\" width=\"3000\" loading=\"lazy\"\/><\/source><\/source><\/source><\/source><\/picture>\n    <\/div>\n<\/div>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j6bbz000q3b6m0kmtk5pl@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump also said his prior threats to remove Powell \u201cbecause he was keeping the rates too high\u201d caused the Fed chair to lower rates \u201ctoo much.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm37j6bbz000r3b6mkbm42y69@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            While the Fed chair has the most clout at Federal Open Market Committee meetings, they are not the only official to determine where interest rates should be. At every monetary policy meeting there are 11 other Fed officials who vote on interest rate moves.\n    <\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnn.com\/2024\/11\/07\/politics\/trump-fed-chair\/index.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington CNN \u00a0\u2014\u00a0 President-elect Donald Trump remains likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=123321\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-123321","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123321"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123321\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=123321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=123321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}