After the intensification of the criticism by the White House toward the most senior central banker of the United States, the investors all around the world are all set to brace the excess of turbulence in the upcoming year.
There was news all over the weekend that the president of the United States, Donald Trump has been discussing the possibilities of firing Jerome Powell who is the chairman of the Federal Reserve.
The market had already suffered its worst in the year 2008 when there was crisis and now it would be triggered more by such an unprecedented move by the president and would further instigate the instability.
The officials of the United States scrambled to deny that president Trump who had appointed Powell just a year ago is the one who has suggested ousting him.
Steven Mnuchin who is the Treasury secretary had tweeted that he has had a word with the president, Donald Trump and had insisted that he has never suggested firing Powell.
He further added that he does not believe that he has the right of doing so as well.
The president, Trump, however has also declared through Steven Mnuchin, who is the Treasury Secretary that he is in complete disagreement with the policy of the Fed which according to him is absolutely terrible.
The policy was regarding the interest rates which are escalating as well as the process of unwinding the bond buying programme of the Federal Reserve.
This according to the president will add to further piling up the pressure on the independent central bank of the United States.
The attacks of president Trump on the Federal increased in intensity when there was a decline in the stock market in autumn.
Source: The Guardian, The Day
