In a recent interview with Fox Business Network, former President Donald Trump asserted that he would not consider reappointing Jerome Powell as the Federal Reserve Chair if he were to be reelected. Trump expressed skepticism about Powell’s actions, particularly if interest rates were lowered, suggesting it could be advantageous for Democrats.
Trump, who previously criticized Powell for being consistently tardy in policy decisions, reiterated his surprise at Powell’s reappointment. When questioned about the stock market’s robust performance despite concerns about the economy under President Biden, Trump attributed it to traders’ optimism regarding a potential return to the White House.
The prevailing optimism in the Wall Street rally is attributed to expectations of imminent interest rate cuts by the Federal Reserve, coupled with investor enthusiasm for tech stocks in the flourishing artificial intelligence sector.
