Trump says he has a top choice to replace Jerome Powell as Federal Reserve chair, but skips on a name
Donald Trump said in Davos, Switzerland on Wednesday that he has likely narrowed down his pick to replace Jerome Powell, the chair of the Federal Reserve, to one person.
But he declined to say who that person was as he spoke to CNBC’s Joe Kernen after his speech to the World Economic Forum, a rambling address where he attacked his domestic and international political foes while finally ruling out military action against a Nato ally in order to acquire the territory of Greenland.
Trump spoke to Kernen on Wednesday afternoon and attacked Powell repeatedly over his refusal to cut interest rates to a greater degree, as well as for supposedly getting spooked when GDP numbers have a sustained rally.
He told Kernen “I’d say we’re down to three but we’re down to two, and I can probably can tell you we’re down to maybe one, in my mind,” said the president.
“[Powell]’s too late, he’s always too late, except when it come to politics for the other side,” Trump complained in the interview. “Right now, if you announce great numbers, the stock market goes down. Because they think ‘Oh, they’re going to raise the [interest] rate. They’re going to kill it.’”
“Which truly stops you from having any great runs, and we want to have a great run,” the president continued.
This is a breaking news report, more to follow…
