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Trump's intention to replace The Federal Reserve (FED) chairman is obstructed.
Gate News bot message, PANews, June 29, news reported by Jin Shi, citing The Wall Street Journal, that Trump discussed with Walsh the matter of replacing Powell in February and March 2024. Walsh advised Trump that no related actions should be taken before Powell's term ends in May 2026.
During a speech in Washington D.C. on April 25, Wosh criticized the Federal Reserve, claiming that "the current trauma is largely self-inflicted" and called for a "strategic reset" to alleviate the loss of credibility and damage to the Federal Reserve's standing.
According to a person close to the current government, due to the earlier hawkish stance on inflation exhibited by Walsh, which diverges from the White House's push for interest rate cuts, Trump's support for Walsh has turned negative.