White House versus The Federal Reserve Bank Economics Essay

White House Versus the Federal Reserve Bank
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White House Versus the Federal Reserve Bank
There have been serious issues between president Trump and the Fed chairman Jerome Powell. The dispute comes in line since the chairman fails to adhere to the orders given by the president concerning the issue of interest policies. The president has often pressured the Federal Reserve to lower the interest rates to be able to grow the American economy (Bernanke et al 2020). The president attacks the Fed by the use of belligerent tactics and rhetoric which has attacked the chairman Powell directly. The latest interest policy makes the president feel like using his powers as the president to demote or to withdraw the Fed chairman since he is not adhering to his wishes. Powell ion the other hand stands firm claiming that he is protected by the American law and the president has no authority to demote him or remove him from that position before his term is over. It cannot be possible according to be the president protecting the law violating the same law, the fed works to all Americans and they must impose interest policy of any kind without being controlled by the political...