Trump Team Attempts to Assure Markets That Powell's Job Is Safe

Says president doesn’t believe he has right to fire Fed chief
Trump said to discuss ousting Powell after latest rate hike

Bloomberg’s Ros Krasny reports on the Trump administration’s moved to reassure markets that Powell will keep his job.(Source: Bloomberg)

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By Jennifer Epstein, Erik Wasson, and Billy House

December 22, 2018 at 8:25 PM UTC

Updated on

December 23, 2018 at 6:19 PM UTC

This article is for subscribers only.

Trump administration officials moved to reassure financial markets that Federal Reserve Chairman Jerome Powell’s job is safe following a report said President Donald Trump has repeatedly discussed firing the central bank chief after last week’s Fed rate hike.

Treasury Secretary Steven Mnuchin said in a pair of tweets Saturday evening that he’d spoken with the president about the matter, and he quoted Trump saying he didn’t believe he had the authority to remove the central bank chief.