Trump Denies Report on Planned Powell Demotion – NMP Skip to main content

Trump Denies Report on Planned Powell Demotion

Jun 24, 2019
Photo credit: Getty Images/olya_steckel

President Trump has pushed back on a news report from last week that he contemplated demoting Federal Reserve Chairman Jerome Powell.
 
In a Sunday interview with NBC’s “Meet the Press,” the President stated, “I didn’t ever threaten to demote him. I’d be able to do that if I wanted, but I haven’t suggested that.”
 
The Federal Reserve has raised interest rates seven times since Trump took office in January 2017. The President continued to criticize Powell for his decisions to raise rates.
 
“Obama had someone that kept the rates very low,” Trump said, referring to Powell’s predecessor Janet Yellen, whom Trump opted not to reappoint for a second term. “I had somebody that raised the rates very rapidly–too much. He made a mistake, that’s been proven.”

 
About the author
Published
Jun 24, 2019
West Capital LO Challenges Contractor Status, Required Fees

A former originator alleges unpaid overtime, recurring tech charges, and company restrictions that he says undermine his independent-contractor status

CFPB Closes 40% Of Investigations, Keeps Mortgage Enforcement In Focus

The federal watchdog closed thousands of supervisory and investigative matters as it narrowed oversight

Midterms Loom With Mortgage Policy Changes Already In Motion

As voters head to the polls Tuesday, Washington is weighing changes to refinancing costs, loan pricing, and lending regulations

UAD 3.6 Deadline Is Monday. Are Brokers Ready?

Wholesale lenders have adopted different rules for appraisal transfers, loan product changes, and reporting formats, adding complications for brokers and appraisers ahead of the Nov. 2 mandate

Friday Harbor Expands AI Appraisal Reviews As UAD 3.6 Deadline Nears

The new capability adds more than 350 automated checks as lenders prepare for the November 2 mandate

Oct 27, 2026