Barclays now sees two Fed cuts this year, says jumbo Fed cuts ’very unlikely’
Investing.com -- U.S. House Speaker Mike Johnson said on Wednesday that he believes new leadership at the Federal Reserve would be beneficial, according to media reports.
"I do I believe new leadership would be helpful at the Fed," Johnson was quoted as saying by a Wall Street Journal reporter on social media platform X.
When asked about whether the president has the authority to remove Federal Reserve Chair Jerome Powell from his position, Johnson expressed uncertainty. According to Punchbowl News, the House Speaker said he’s "really not sure" if the president possesses the power to fire Powell.
Powell currently serves as the Chair of the Federal Reserve, which is responsible for setting U.S. monetary policy and regulating the banking system.
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