US Lawmaker Claims Jerome Powell Will Be Sacked: The Search for a New Fed Chair Is On
2025-07-16 11:25:23
Main Idea
A US lawmaker claims Jerome Powell will be removed as Federal Reserve Chair, with the search for his replacement already underway, sparking debates about Fed independence and market stability.
Key Points
1. A US lawmaker confirmed Jerome Powell's imminent removal as Fed Chair, with the search for his replacement officially begun.
2. Scott Bessent mentioned the search is looking outside the Federal Reserve, despite Powell's term not expiring until 2026.
3. Jamie Dimon, CEO of JP Morgan, warned against interfering with the Fed's independence, advocating for Powell to finish his term.
4. Former President Trump has publicly demanded Powell's resignation, criticizing his handling of interest rates.
5. The Treasury Secretary supports the move to avoid confusion and maintain market stability.
Description
A US lawmaker confirmed the imminent removal of Jerome Powell as the Fed’s chair. Scott Bessent says the search for Powell’s replacement has officially begun. The Trump administration always had its reservations about Powell’s Fed leadership. Speculation about the removal of Federal Reserve Chair Jerome Powell surged after a US lawmaker representing Florida confirmed that his removal was imminent. Representative Anna Paulina Luna of Florida made the statement in her latest post on the social med...
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