A vacancy on the Fed is opening early as Trump urges board to 'assume control' if Powell doesn't cut rates
Briefly

President Trump reacted on social media after the Federal Reserve maintained interest rates, urging the board to lower them and suggesting a revolt against Jerome Powell. Fed Governor Adriana Kugler announced her resignation, allowing Trump to nominate a new voting member to the Federal Open Market Committee, which sets rates. Although two Trump appointees dissented in the recent vote, experts view the situation as stable, indicating that a major upheaval at the Fed is unlikely despite Trump's demands.
President Trump erupted on social media after the Federal Reserve held interest rates steady this week, calling for a revolt against Chairman Jerome Powell and urging the board to assume control.
Fed Governor Adriana Kugler announced her resignation earlier than expected, presenting President Trump with an opportunity to nominate a new member to the FOMC and potentially influence interest rate decisions.
Read at Fortune
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