FILE PHOTO: US President Donald Trump gestures with Jerome Powell, his candidate for US Federal Reserve chairmanship at the White House in Washington, USA, November 2, 201
WASHINGTON (Reuters ) – US President Donald Trump has sharply criticized US Federal Reserve Chairman Jerome Powell on Friday, saying he will not try to stop the head of the US Federal Reserve if he offers to resign.
Trump, who left the White House to travel to the G7 summit in France, told reporters: "I'm not happy with Jay Powell."
His comments continued a word war against Powell, who along with Retaliatory tariffs US-imposed US goods triggered a sharp decline on US stock markets on Friday.
"I do not think he does a good job," Trump told reporters as he left the White House on Friday just before midnight.
"I do not think he's a great chess player, but I have him like that, you know, I have," added the President, who had previously asked on Twitter who "our bigger enemy" was. Powell or Chinese leader Xi Jinping.
When asked if Powell should resign, Trump said, "Should he resign? Let me put it this way, if he did, I would not stop him.
Powell was in Jackson Hole, Wyoming, for a meeting with other central bankers on Friday, saying the Fed would "act appropriately" to keep the US economy healthy in a worsening global economy, but that it did not more focused on a series of interest rate cuts Trump aimed for.
Faced with growing risks to the economy, the Fed cut interest rates for the first time in more than a decade in the past month, and markets expect the central bank to default Reporting on Bryan Pietsch; Writing by David Alexander; Editing by Mohammad Zargham & Shri Navaratnam