“Powell, Considering Resignation As Fed Chair”…Is His Position Shaken By Trump Pressure?

Chairman Powell Begins To Worry about His Position (Source: FT)

It is reported that Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), is seriously considering resignation. On July 12 (local time), Watcher Guru reported this possibility citing multiple sources.

Chairman Powell has reportedly been under considerable political pressure from President Trump’s repeated demands for resignation and interest rate cut pressure. President Trump has recently been criticizing repeatedly in public and on his social media platform, saying, “Powell must resign immediately,” arguing that the Fed’s monetary policy is hindering economic recovery.

Amid growing concerns that the Fed’s independence could be shaken by political pressure, the issue of Chairman Powell’s position is emerging as a major variable in the global financial market. Although there has been no official position from Powell himself yet, the market is paying close attention to his potential resignation and subsequent policy changes.