US President Donald Trump publicly targeted Federal Reserve Chairman Jerome Powell in a statement last night, sparking a new wave of debate in Washington.
“People are trying to stop me from firing Mr. Powell,” Trump said, adding that both expected and unexpected Fed chair candidates would be on the table.
Trump also hinted that a possible change was imminent, saying, “I hope Mr. Powell resigns now. We pretty much know who the new Fed chairman will be.”
The U.S. government shutdown has ended, and delayed economic data will begin arriving at the Federal Reserve this week. The Fed is scheduled to reconsider the interest rate cut discussion at a key meeting in about three weeks.
However, the situation remains uncertain due to data delays. The U.S. Bureau of Labor Statistics (BLS) announced that the delayed September employment report will be released on Thursday. The White House announced that some of the October data may be skipped entirely and that the government shutdown may prevent November data collection.
*This is not investment advice.
