Does not want to release US Federal Research chief Jerome Powell

Newsblog on US politics

Trump denied: does not want to release central bank boss

The US President denies reports of several US media. In the customs dispute, EU Commissioner Šefčovič will travel to the USA. All developments in the news blog.

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US President Donald Trump denied media reports that he wanted to dismiss the head of the US Federal Reserve, Jerome Powell. Powell is not doing a good job, but he should remain in office, Trump said on Wednesday when visiting Bahrain’s crown prince, Salman bin Hamad, in Washington.

Previously, several US media had reported that Trump had signaled in conversation with several Republican MPs that he would soon exchange Powell. According to the “New York Times”, Trump is said to have shown the MPs the draft of a relief letter. Trump denied that there was such a letter. However, most MPs were for Powell’s dismissal. However, he was more conservative than the MPs, said Trump on Wednesday.

Trump and Powell have been fighting for weeks because Powell has not reduced interest rates against Trump’s will. It was only on Friday that the President spoke of the fact that he considered the Fed chairman to be “terribly bad”. However, he also excluded his release on Friday.

In the customs conflict with the United States, EU chief negotiators Maroš Šefčovič travel to Washington for personal discussions with the team of President Donald Trump. The EU Commissioner will meet Commerce Minister Howard Lutnick and Trump’s trade representative Jamieson Greer, said a spokesman in Brussels. A team of experts from the European Commission had already flown to Washington on Tuesday.

The aim of the EU is to prevent the United States from using an inch of 30 percent from August 1st. A corresponding approach had announced on the weekend in the event of the case that the EU does not make any concessions sufficient for him. The Republican primarily calls for measures that correct the current deficit of the United States in the trade in goods. This could be, for example, tariffs on US exports to the EU, but also relocation of production to the United States.

On Tuesday, Trump said to journalists that they are making progress in negotiations. However, he did not give details. At the same time, he added that there was already a “deal” and made it clear that he referred to the tariffs he announced on Saturday in the amount of 30 percent to import EU products from August 1st. Trump pushed after: “But at the same time we talk to each other.”