United States President Donald Trump has spent months attacking US Federal Reserve chairman Jerome Powell for not moving faster to lower interest rates.
While Trump is not the first president to clash with the head of the US central bank on monetary policy, he has gone further than his predecessor by threatening to fire Powell and pressuring him to resign.
Trump’s barbs have raised concerns about the prospect of the Fed losing its independence, which would have serious ramifications for the US economy.
What has Trump said about Powell?
Trump’s main gripe with Powell has been the Fed’s decision to keep its benchmark interest rate in the range of 4.25 to 4.50 percent.
The US central bank has resisted calls to lower the rate, which would spur economic growth by reducing borrowing costs across the economy, to keep a lid on inflation.
While inflation remains modest at present,…
