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.
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