6/19, 8:43 PM (Source: TeleTrader)
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Powell on Trump threats: I fully intend to serve 4-year term

Chairman of the United States Federal Reserve Jerome Powell reacted on Wednesday to US President Donald Trump recent threats about demoting him by saying that he "fully intends" to serve his four-year term as the head of the US central bank. Speaking at a news conference following Fed's decision to hold interest rates, Powell said that "the law is clear" when it comes to Trump's attempts to remove him before the end of his term.

Asked about the impact of trade developments such as a potential US-China deal on the Fed's decision to cut rates, Powell said that trade news has been an important driver of market sentiment, but added that the central bank is more focused on the possible impact of trade disputes on global growth.

Breaking the News / FH