President Donald Trump has privately asked cabinet members if he has the authority to fire Federal Reserve Chairman Jerome Powell after interest rates were increased and the stock market plummeted, US media reported Saturday. CNN and Bloomberg, citing unnamed people familiar with the matter, said that Trump was furious when the Fed raised the key borrowing rate on Wednesday and signaled it will continue to hike rates next year. Treasury Secretary Steven Mnuchin, however, quoted Trump as denying any plan to remove Powell.
from Yahoo News - Latest News & Headlines https://yhoo.it/2rPXuAK
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