Navarro predicts the Fed chairman will be “gone” within 100 days under the new Trump administration

Imprisoned former White House economic adviser Peter Navarro predicted that Federal Reserve Chairman Jerome Powell would get the boot in a second Trump administration.

“I suspect that in a hundred days this meticulous non-economist will somehow be gone,” Navarro said in an interview with Semafor. published on Tuesday.

Navarro mentioned Kevin Hassett and Tyler Goodspeed, both ex-chairmen of the Council of Economic Advisers under former President Trump, as potential replacements.

The Semafor interview was conducted from a federal prison where Navarro is serving a four-month sentence for failing to comply with a congressional subpoena issued by the House committee investigating the attack on the U.S. Capitol 6 January.

Navarro, who served as director of Trump's Office of Trade and Manufacturing Policy, wrote his answers to the interview questions in an email from the prison's law library, Semafor noted.

He criticized Powell's approach to dealing with inflation.

“Powell was Mnuchin's fool,” Navarro said, referring to Trump's former Treasury Secretary Steven Mnuchin. “Powell raised interest rates too quickly under Trump and slowed growth. To keep his job, Powell then raised rates too slowly to keep inflation under control under Biden.”

Trump, the presumptive Republican nominee for president, has previously said he would not reappoint Powell to lead the Fed.

“I would not reappoint him. I thought he was always late, whether it was good or bad, but he was always late,” Trump said in an August 2023 interview with Fox Business Network's Larry Kudlow, who served as the top economic official in the White House of Trump served.

Trump, who first nominated Powell to lead the central bank in 2018, fell for the seat late in his first term when Powell and the Federal Reserve raised interest rates.

President Biden nominated Powell to a second four-year term in November 2021, and he was confirmed by the Senate in May 2022 by a vote of 80-19. His current term expires in 2026.

“I was surprised that he was reappointed. He was probably reappointed because they knew I didn't like him that much,” Trump said in the Fox Business interview last August. “I'm not a fan of Jay Powell.”

Related Posts

  • Business
  • June 22, 2024
  • 3 views
  • 4 minutes Read
CDK Global Cyberattack Leaves Thousands of Car Dealers Spinning Their Wheels

Bel Air dealer among national companies affected by cyber attacks Bel Air dealer among national companies affected by cyber attacks 02:11 Car dealers in the US are floundering after cyber…

  • Business
  • June 21, 2024
  • 2 views
  • 3 minutes Read
Citigroup, JPMorgan Chase and Goldman hit by regulators

Jane Fraser, CEO of Citigroup, testifies during the Senate Committee on Banking, Housing and Urban Affairs hearing entitled Annual Oversight of the Nations Largest Banks, at Hart Building on Thursday,…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

The Florida judge responsible for the secret trial against Trump files a dossier

  • June 22, 2024
The Florida judge responsible for the secret trial against Trump files a dossier

Hacker claims to have 30 million customer details of Australian ticket seller TEG

  • June 22, 2024
Hacker claims to have 30 million customer details of Australian ticket seller TEG

‘Slave Play’ playwright Jeremy O. Harris is on a mission to diversify theater : NPR

  • June 22, 2024
‘Slave Play’ playwright Jeremy O. Harris is on a mission to diversify theater : NPR

Fauci blames Trump's administration staff for feeding him misinformation and hostility

  • June 22, 2024
Fauci blames Trump's administration staff for feeding him misinformation and hostility

CDK Global Cyberattack Leaves Thousands of Car Dealers Spinning Their Wheels

  • June 22, 2024
CDK Global Cyberattack Leaves Thousands of Car Dealers Spinning Their Wheels

Why will Kylian Mbappé wear a mask at Euro 2024 and what are the rules?

  • June 22, 2024
Why will Kylian Mbappé wear a mask at Euro 2024 and what are the rules?

Angel Reese makes WNBA rookie double-double history: NPR

  • June 22, 2024
Angel Reese makes WNBA rookie double-double history: NPR

Refrigerating 'blood oranges' could even make them healthier – a bonus for consumers

  • June 22, 2024
Refrigerating 'blood oranges' could even make them healthier – a bonus for consumers

Why Anthropic's Artifacts May Be This Year's Most Important AI Feature: Interface Battle Reveal

  • June 22, 2024
Why Anthropic's Artifacts May Be This Year's Most Important AI Feature: Interface Battle Reveal

Ecuador vs. Venezuela live stream: Copa America prediction, TV channel, watch online, time, news, odds

  • June 22, 2024
Ecuador vs.  Venezuela live stream: Copa America prediction, TV channel, watch online, time, news, odds

Andrew Miller, State Department expert on Israel-Palestine, resigns amid Gaza war

  • June 22, 2024
Andrew Miller, State Department expert on Israel-Palestine, resigns amid Gaza war