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EXCLUSIVE: Trump says he has the power to remove the chairman of the Federal Reserve, "if I wanted"



President Trump Donald John TrumpConway Resists Hatch Act Allegations Under DUSTS On Monday he said he had the authority to dismiss US Federal Reserve Chairman Jerome Powell but had no intention of to do that.

In an exclusive interview with The Hill, Trump said Powell was "wrong" that he was entitled to serve a four-year term expiring in 2022.

When asked if he believes he has the power to remove Powell, Trump said, "If I wanted to, but I do not mean to do anything."

Experts have questioned this claim.

The President has sharply criticized Powell's attitude to the central bank, accusing it of inhibiting economic growth by raising interest rates. His constant criticisms have unsettled the observers of the Fed, which is said to be impartial.

The Fed has raised interest rates Nine times since 201

5, seven times since 2017, including four times under Powell, which took over in 2018 after being nominated by Trump.

"You have to understand that we are going to face and manipulate other parts of the world," said Trump. "They manipulate their currency and I do not want that, but I want to be treated fairly and we have to create a level playing field."

Trump reiterated his claim that Powell failed to raise interest rates If tightened in quantitative terms, both gross domestic product and the stock market would exceed their current levels. He called the Fed an "artificial barrier" for improving economic data.

Asked if he thinks Powell sabotages him, Trump said he did not think that was right.

"I do not think he knows." Trump said. "I do not think he understands, he does not understand."

Brett Samuels added.


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