President of the Central Bank of America: Trump cannot fire me

According to RCO News Agency, “Jerome Powell”, the head of the American central bank, announced that according to the law, the presidents of the United States are not allowed to fire the members of the independent central bank, therefore, Donald Trump, as the elected president, does not have such authority to fire him.

According to the Politico News website, Trump said that the head of the US Federal Reserve is the country’s biggest enemy compared to Chinese President Xi Jinping.

Powell said it is too early to tell how the new administration’s agenda will affect the U.S. economy or how the central bank should respond.

He added: “This is the initial stage. We don’t know what the policies are, we don’t know when they will be implemented. “In the short term, the elections will have no effect on our political decisions.”

Powell and the central bank now face a more dangerous environment in Washington than during the first term of the Trump administration. While the president-elect says he can make decisions for the central bank, the financial institution fiercely guards its freedom to make decisions regardless of short-term policy.

end of message