President Donald Trump is causing a lot of confusion and worry about whether Federal Reserve Chairman Jerome Powell will keep his job by making statements that contradict each other. This leaves the public, financial markets, and even his own party unsure about what he really plans to do.
Reports came out saying President Trump told a group of Republican lawmakers that he would “soon fire” Jerome Powell. One Congresswoman, Anna Paulina Luna, even tweeted that the firing was “imminent.” This private statement, which seemed like a way to test the idea with his political supporters, quickly caused a strong reaction in financial markets. The value of the U.S. dollar dropped, gold prices went up, and major stock indexes fell.
