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US, Trump did not confirm Powell as Fed chairman

US, Trump did not confirm Powell as Fed chairman

If he is re-elected, Donald Trump has not confirmed Jerome Powell as chairman of the Federal Reserve. He said this during an interview with Fox Business, saying the central banker was wrong about inflation and that there were two names for the role, and he did not want to reveal who they were.

Powell was sworn in as chairman of the US Federal Reserve 2018, after being picked by then-President Trump. He later served a second term under President Biden 2022.

According to Trump, Powell “will do something Help the Democratsreliability, If it lowers interest rates“.

“But there is Risk of hyperinflation again, because energy prices can go up in the Middle East – he continued – and in the Middle East, again, bombs are falling everywhere and ships are being hit and are starting to hit hard. If this happens, crude oil prices will rise sharply. If that happens, there will be massive inflation. He can do nothing. But it seems to me that he is trying to lower interest rates so that people can be elected.

So far, recent tensions in the Middle East have not had a major impact on oil prices. The WTI is at $72 a barrelAlmost the same situation when the troubles started in the Red Sea.

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