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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


Trump thinks of a "catastrophic step"

rocky
rocky
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 Trump thinks of a "catastrophic step" Empty Trump thinks of a "catastrophic step"

Post by rocky Sun 23 Dec 2018, 2:35 am

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Trump thinks of a "catastrophic step"[/size]
 Trump thinks of a "catastrophic step" Trumb

 Twilight News     

 3 hours ago




US President Donald Trump is considering dismissing Federal Reserve Chairman Jerome Baal because he is unhappy with the bank rate hike last week, informed sources said.
Some close to Trump warned that isolating Powell would be a disastrous step, or any attempt to force Jerome Powell to step down from the Fed, would have a devastating impact on capital markets and undermine investor confidence in the central bank's ability to manage the economy without political interference.
This comes at a time when financial markets are witnessing a sharp decline, while most major indices have declined significantly since the beginning of the year.
The US president has no right to dismiss the central bank governor without giving positive reasons, according to the Federal Reserve Act.
Since the chairman of the Central Reserve Board also acts as a bank governor, it appears that the law also covers it, but the rules on dismissing the Fed chairman seem more ambiguous.
Observers say such a move by Trump would strike an unprecedented blow to the independence of the central bank and that although Jerome was appointed by the president, he is concerned that Trump ignored the importance of preserving the bank's independence.
According to a close associate of the US president, Trump's frustration over the actions of Jerome Powell has escalated over the past few days in light of the latter's decision to raise interest rates, which Trump sees as slowing down economic growth.
White House spokesmen declined to comment, and Federal Reserve spokeswoman Michele Smith also declined to comment on the reports.




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