WASHINGTON: President Donald Trump said on Tuesday he has no plans to fire Federal Reserve Chair Jerome Powell, but said he wants interest rates to be lower, remarks that could defuse tensions over the central bank chief’s future that have rattled investors.
“I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday. “I would like to see him be a little more active in terms of his idea to lower interest rates,” he added.
Trump’s statement was the first de-escalation after days of withering criticisms he has lobbed at Powell for not further cutting interest rates since Trump resumed office in January.
The broadsides were often accompanied by threatening remarks, such as last week’s social media posting that Powell’s termination as Fed chair “cannot come fast enough,” that spooked financial markets that view the Fed’s independence as underpinning its credibility on the global financial stage.
But while he seems to have set aside those threats for now, his criticisms of Fed rate policy remain just as pointed.
“We think that it’s a perfect time to lower the rate, and we’d like to see our chairman be early or on time, as opposed to late,” Trump said.
Trump: No plans to fire Fed Chair Powell, but wants lower rates
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Trump: No plans to fire Fed Chair Powell, but wants lower rates
- “I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday
Floods ravage Minas Gerais, killing 36 as rescuers race to find dozens missing
- Minas Gerais’s fire department said 33 people were still missing and about 3,000 residents had been forced to leave their homes
- 600 families living in endangered areas were about to be relocated to local schools improvised as shelters
JUIZ DE FORA, Brazil: Dozens are still missing in southeastern Brazil on Wednesday after floods killed at least 36 people in the state of Minas Gerais, officials said Wednesday. Rescue teams worked through the night, as heavy rain is expected in the region in the next few days.
All the victims found so far are in the cities of Juiz de Fora and Uba, about 310 kilometers (192 miles) north of Rio de Janeiro.
Minas Gerais’s fire department said 33 people were still missing and about 3,000 residents had been forced to leave their homes as of Wednesday morning.
The streets of Juiz de Fora, a city of 560,000 residents, were covered in mud as authorities feared more landslides. Life in neighboring Uba, with its 107,000 residents, came to a stop. Classes were suspended in both cities, their mayors said.
Juiz de Fora’s City Hall said in a statement that around 600 families living in endangered areas were about to be relocated to local schools improvised as shelters and that the city experienced double the rain expected for February. Mayor Margarida Salomão said at least 20 landslides had been reported since the torrential rain began Monday evening.
On Tuesday, Brazilian President Luiz Inácio Lula da Silva said on his social media channels that security forces have been deployed on rescue missions and are providing immediate assistance to the population affected by the rain. He also said health care teams had been sent to the region, which lies close to hills, valleys and slopes.
