Trump says he never threatened to demote Fed head Jerome Powell, but has the 'right' to do so

[DonViejo]

"I’m not happy with his actions, I don’t think he’s done a good job,” Trump said of his appointee.

June 24, 2019, 7:31 AM EDT / Source: CNBC.com

By Spencer Kimball, CNBC

President Donald Trump said he never threatened to demote Federal Reserve Chairman Jerome Powell, though he maintained he has the authority to do so.

“I didn’t ever threaten to demote him,” Trump said in an interview with NBC’s “Meet The Press” that aired on Sunday. “I’d be able to do that if I wanted, but I haven’t suggested that.”

“I have the right to do that, but I haven’t said that,” the president continued. Trump went on to criticize the Fed for raising interest rates, saying Powell made a mistake.

“Obama had someone that kept the rates very low,” Trump said. “I had somebody that raised the rates very rapidly — too much. He made a mistake, that’s been proven.” The Federal Reserve on Wednesday held interest rates steady, indicating that there would not be a cut in 2019. The central bank, however, forecast one to two possible rate cuts in 2020. When asked Tuesday whether he wanted to demote Powell, Trump said: “Let’s see what he does.”

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https://www.nbcnews.com/business/economy/trump-says-he-never-threatened-demote-fed-head-jerome-powell-n1020876?cid=public-rss_20190624

[empedocles]

1. Powell seems to have bent to some of the pressure favorably to trump

Undoubtedbly, trump hired/'appointed' Powell on that expectation.