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Trump says he never threatened to demote the Federal Reserve Chairman Jerome Powell




President Donald Trump, left, and Jerome Powell, US Federal Reserve governor and Trump's Federal Reserve chairman nominated, go to a Rose Garden of the White House nomination message in Washington, DC, USA, on Thursday, November 2 2017.

Saul Loeb | AFP | Getty Images

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

"I never threatened to demote him," Trump said in an interview with NBC's Meet The Press who sent Sunday. "I could do it if I wanted to, but I didn't suggest it."

Trump continued to criticize the Federal Reserve for raising interest rates, saying that President Powell made a mistake.

"Obama had someone who kept the prices very low," Trump said. "I had someone who raised the price very quickly ̵[ads1]1; too much. He made a mistake, it has been proven."

The Federal Reserve on Wednesday kept interest rates stable, suggesting that it would not be a cut in 2019. However, the central bank predicts one to two possible price reductions by 2020.

When asked Tuesday if he wanted to demote Powell , Trump said, "Let's see what he's doing."

Bloomberg had reported that Trump considered demote Powell in February, but White House's financial advisor Larry Kudlow said the president was not considering such a move.

"It's a six-month-old story," he told reporters. "It is said that it happened six months ago, and it does not happen today, and therefore I have nothing to say about it. That's what it is."

Powell was asked to be empty at a press conference after the Fed meeting on Trump's criticism. 19659002] "I think the law is clear that I have a four-year period and I intend to serve it," Powell said.

This is breaking news. Please check for updates.



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