• Trump could cause market ‘turmoil’ if he removes Powell as central bank chief - former Fed governor

Market news

20 June 2019

Trump could cause market ‘turmoil’ if he removes Powell as central bank chief - former Fed governor

U.S. President Donald Trump risks hurting investor sentiment if he removes Jerome Powell as chair of the Federal Reserve, according to a former Fed governor.

“To fire a Federal Reserve governor or chairman would be a very unprecedented move, it would result in turmoil in the financial markets, it would be something that you really don’t want to do because you don’t need an absolute increase in uncertainty which this would bring about,” Robert Heller, a member of the Fed’s Board of Governors from 1986 to 1989, told.

Heller’s comment came as Bloomberg, citing people familiar with the matter, reported on Wednesday that Trump said he believes he has the authority to demote Powell.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.