Former older economic adviser Steven Moore discusses President Donald Trump’s termination of the Labor Bureau Statistical Commissioner and more about the “bottom line”.
President Donald Trump said Sunday night that he would soon announce a nominee to fill a new job on the Board of Governors of the Federal Reserve.
The opening of the Fed Board comes after last week the announcement that Governor Adriana Kugler would withdraw early – before her term expired in January – leaving a place open to the nation -leading panel. monetary policy.
The seven members that make up the Fed Board are called governors and are nominated by the president and confirmed by the Senate.
The appointment comes as tensions between Trump and Federal Reserve President Jererom Powell have intensified in recent months.
At the heart of the conflict is Powell’s reluctance to lower interest rates lower – an attitude that says is rooted in Federal Reserve cautious, dependent on inflation management data and economic growth.
President Donald Trump and Federal Reserve President Jererom Powell. (Getty Images / Illustration of Photos / Getty Images)
Trump has repeatedly demanded that the Fed reduce the target rate of federal funds, which he says could save the nation’s billions of dollars.
View of the widespread battle between Trump and Powell over Fed’s policy
Powell retained the key goal of borrowing the central bank in the range of 4.25% to 4.5%, adopting a cautious approach to measure the economic impact of Trump’s tariffs.
Last month, after a meeting of the Federal Open Market Committee, Powell announced that the Fed would Leave the rate unchanged. The decision was marked for the fifth time this year the Fed retained the interest rate stable.
Trump also said on Sunday night that he would appoint a new chief statistician to replace the Labor Bureau Statistical Commissioner who recently fired.
US Department of Labor Statistics Commissioner for the US Department of Labor, Erika McKenkarfer, is involved in photography in this Reuters Handbook image on August 2. (The US Bureau of Labor Bureau via Reuters / Reuters)
Last week, Trump fired Labor Statistical Commissioner Erica McEntarfer, claiming to have falsified employment data in order to give a disappointing job report.
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