△ U.S. President Donald Trump (photo)
On the 22nd local time, U.S. President Donald Trump stated that Federal Reserve Chairman Jerome Powell is about to leave his position.
Trump mentioned that the current high interest rates are affecting the housing market. He suggested that the interest rate should be reduced by 3 percentage points, or even more.
Since the beginning of this year, Trump has repeatedly criticized Powell and threatened to remove him from his role as Fed Chair, in order to pressure the Fed to cut interest rates. Recently, the Trump administration has frequently brought up the matter of the Fed spending $2.5 billion on renovating its office building, which has resulted in “cost overruns,” further pressuring Powell for a higher stake. (Cao Jian)