Trump thinks he can demote Fed's Powell

Updated June 20 2019 - 10:53am, first published 10:50am
US Federal Reserve chair Jerome Powell says the Fed will act as needed to sustain economic expansion
US Federal Reserve chair Jerome Powell says the Fed will act as needed to sustain economic expansion

US President Donald Trump believes that he has the authority to replace Federal Reserve Chair Jerome Powell and demote him to be a board governor, but he isn't planning to do so presently, Bloomberg reports.

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