2 November 2017 President Donald trump has nominated Jerome Powell Hayden to head the Federal reserve. Then the American leader was sure that the assigned officer would cooperate fully with the administration of the White house.
Trump was expecting a gradual easing of banking supervision with the fed. However, it was exactly the opposite and now the President of the United States is not tired to accuse Powell in preventing the growth of the economy.
A year after his appointment, the head of the financial regulator has faced constant criticism from Donald trump. The American leader is sure that the fed takes the U.S. economy «much more problems than China». In addition, in one of his interviews, the President said, greatly disappointed by the nomination of Jerome Powell to such high office.
Trump was expecting a gradual easing of banking supervision with the fed. However, it was exactly the opposite. Photo: flickr/CC/96739999@N05/
Trump accuses the head of the fed in an uncontrolled increase in the interest rate. In his opinion, these decisions have led to difficulties in the stock market. He repeatedly demanded to refuse from such actions, but every time the regulator has taken a tough stance in this regard. In the end, the US President accused the fed in creating obstacles to economic growth.
The situation escalated to the limit. Bloomberg reported that after another rate hike, Donald trump in a narrow circle discussed the possibility of dismissal of Powell. But White house officials deny it. According to the Minister of Finance Steven Mnuchin, the American leader does not consider this option.
The acting head of the White House Mick Malvani, in turn, said: tensions between the head of the fed and a President of the United States can be called «traditional» phenomenon. He did not deny that trump is unhappy with the actions of the regulator, but also ruled out the option with the resignation of Jerome Powell.
However, experts do not share the optimistic attitude of senior officials. They believe that the first chance the American leader would try to remove the fed Chairman from office. Nevertheless, the dismissal of Powell will not solve the existing problems in the economy, whose growth is gradually slowing down, experts say.
