Powell is Staying as Head of the FED, Says Trump - Forex News by FX Leaders
Trump is watching Powell carefully

Powell is Staying as Head of the FED, Says Trump

Posted Thursday, September 19, 2019 by
Skerdian Meta • 1 min read

The US President Donald Trump was speaking on Fox News a while ago. He made a few comments on the FED. The FED cut interest rates yesterday by 25 basis points to 2.00%, which my colleague Shain covered in the evening, if you followed our economic calendar.

Here are Trump’s comments on the FED and Powell:

  • He is not thrilled with the Fed, but Powell’s job is safe
  • Powell doesn’t know how to play the game very well
  • The FED has raised rates too fast
  • The FED should cut more, as other central banks will do so

Markets were expecting Powell to go when his mandate is over, considering all the tweets and comments from Trump recently. But now Trump is confirming Powell as head of the FED for the next mandate. This should be positive for the USD since such comments should calm some nerves of uncertainty. Besides, Powell is not the most dovish FED chairman either, so the USD should feel better than other currencies as long as Powell remains.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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