Trump will make Powell replacement decision at 'appropriate time'
Share and Follow


() Office of Management and Budget director Russel Vought sidestepped a question from about who may succeed Jerome Powell as chairman of the Federal reserve on Friday.

Vought fielded questions from reporters this morning about Powell, as tensions between President Trump and Powell continue to escalate over interest rate policy.

Asked by ‘s Libbey Dean whether the president has discussed potential replacements for Powell, Vought said, “Those are announcements that he will make at the appropriate time, when he’s ready to do it.”

Trump has repeatedly criticized Powell and suggested replacing him, though the Supreme Court has indicated that a president likely does not have the authority to fire a Federal Reserve chair.

The Federal Reserve has so far resisted pressure to cut interest rates, but the White House continues to ramp up its push. “I think the president has a policy view with regard to we need lower rates, he has a policy with regards to the fact that Jerome Powell has been late repeatedly, the Fed has been mismanaged.” Vought said this morning.

Vought also addressed the controversy over the Federal Reserve’s planned $2.5 billion headquarters renovation. “This is about the renovations that are occurring, the extent to which they are largess,” he said. “The cost that we’re now talking about is $2.5 billion. He (Trump) is a developer, and the size of this project is something that should never have gone forward.”

On Thursday, Vought sent a letter to Powell claiming the president is “extremely troubled” by the expensive Federal Reserve renovation plans.

Share and Follow
You May Also Like
'Delusional' movie fans keep whining about the media reporting insanely low box office numbers

Movie Fans Frustrated by Media’s Low Box Office Reports

Throughout the year, a curious and collective frustration has emerged among some…
‘Sex spies’ from China, Russia hit US to seduce and steal secrets with honeypot tactics, fmr operative warns

Beware the Honeypot: How Chinese and Russian ‘Sex Spies’ Target America to Steal Secrets

A former CIA operative has raised concerns about China and Russia deploying…
Two Belgium airports shut down after drones are spotted overhead

Drone Intrusions Ground Flights: Belgium’s Major Airports Face Unexpected Shutdown

Drone activity has resulted in the temporary shutdown of two significant airports…
Election Day: What's on the ballot in the first general election since Donald Trump became president

Exploring the Ballot: Key Issues in the First General Election Following Donald Trump’s Presidency

As the nation reflects on the first anniversary of Donald Trump reclaiming…
Britain's richest man Gopichand Hinduja dies aged 85

Gopichand Hinduja, Britain’s Wealthiest Business Magnate, Passes Away at 85

Gopichand Hinduja, known for building a vast global business empire alongside his…
Kristin Chenoweth responds to the intense fan backlash over tribute to Charlie Kirk: 'Nearly broke me'

Kristin Chenoweth Addresses Fan Backlash Over Charlie Kirk Tribute: “It Nearly Broke Me

Kristin Chenoweth, renowned for her role in Broadway’s “Wicked,” expressed that the…
Who will be New York City's next mayor? Track the live election results

Stay Updated: Live Tracking of New York City’s Mayoral Election Results

In a last-minute effort to sway voters, candidates vying for the position…
Prince Harry 'isn't loving Meghan posting pictures of their children'

Prince Harry’s Concerns: Meghan’s Social Media Posts of Their Children Stir Internal Tensions

Prince Harry is reportedly uneasy about his wife Meghan Markle’s recent social…