Speculation is mounting that Donald Trump is planning to announce an early replacement for Jerome “Jay” Powell, chairman of the US Federal Reserve – partly in an attempt to undermine the boss of America’s central bank.
Powell’s sin is that he has refused to bend the knee to the president on the subject of interest rates. Trump has now let it be known, in crude, insulting remarks to reporters while on his visit to Europe for the Nato summit at The Hague, that he is considering “three or four” possible successors to the “terrible” and “stupid” incumbent, whose term ends in May next year.
