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Al Jazeera
Al Jazeera
Politics
Al Jazeera Staff

Trump calls on Fed board to take control from Powell over interest rates

Traders on the floor of the New York Stock Exchange watch a news conference by US Federal Reserve Chair Jerome Powell on July 30 [File: Jeenah Moon/Reuters]

Washington, DC – United States President Donald Trump has called on the Federal Reserve board to wrest control of the central bank from Chairman Jerome Powell and lower interest rates.

In a series of social media posts on Friday, Trump — who has called for lowering interest rates for months — escalated his attacks on Powell, suggesting that the central bank chief should be stripped of his powers.

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