President Donald Trump’s unprecedented walk-through of the Federal Reserve’s now-controversial building renovation project with Jerome Powell ended with a sign of relief for the central bank chief who’s been under pressure for months to slash interest rates.
There’s “no tension” with Powell, Trump said after the Thursday tour — which featured the two men publicly trading barbs over the cost of a project that the president’s allies have used to blast the Fed chair’s leadership.
The president indicated that problems with the project probably weren’t reason enough to fire the central bank head. “To do that is a big move, and I just don’t think it’s necessary,” he told reporters.
Rob Kaplan, Vice Chairman of Goldman Sachs and former President and CEO of the Federal Reserve Bank of Dallas, discusses the implications of White House pressure on the US central brank to ease monetary policy, as well as the nation's macroeconomic outlook. Rob speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.
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