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Trump talk of firing Fed chairman: report

A frustrated Donald Trump has reportedly discussed sacking US Federal Reserve Chairman Jerome Powell.

US President Donald Trump has reportedly discussed firing Federal Reserve Chairman Jerome Powell.

Trump's frustration with the US central bank chief intensified after this week's interest rate increase and months of stock-market losses, Bloomberg said on Saturday, citing sources familiar with the matter.

The president has talked privately about firing Powell many times in the past few days, the news agency said, citing two of the people involved.

White House spokesmen have declined to comment, as has Federal Reserve spokeswoman Michelle Smith, Bloomberg says.

The Fed raised interest rates on Wednesday for the fourth time in 2018 and signalled "some further gradual" rate increases ahead.

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Global financial markets, including Wall Street stocks, had been hoping for a more dovish policy outlook and sold off broadly.

The Dow had the worst week since the 2008 financial crisis, while the Nasdaq sank into bear market territory.

Any attempt to fire Powell could be seen as undermining the central bank's independence from the administration.


1 min read

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Source: AAP



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