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Support Powell? The "third-in-command" of the Federal Reserve stated that there is no necessity to adjust interest rates in the short term!
① The President of the New York Federal Reserve, Williams, believes that there is no need to change the Federal Reserve's interest rate policy in the short term, although Trump's tariffs may increase inflation, weaken economic growth, and raise unemployment rates. ② Williams emphasized that the Federal Reserve needs to ensure that inflation does not continue to rise and to bring inflation back to the target level of 2%.
Reports indicate that Trump intends to replace Powell, while former Federal Reserve officials advise against interfering with the independence of the central bank.
Recently, USA President Trump met with former Federal Reserve Board member Kevin Walsh to discuss the possibility of replacing current Federal Reserve Chair Powell ahead of schedule.
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