Fed Chair Jerome Powell, Clarifies His Stance

first_img Fed Chair Jerome Powell had a one-word answer to a question on whether he would resign if President Trump asked him to. “No,” Powell said when he was asked if he would step down at the president’s request, during a panel discussion in Atlanta hosted by the American Economic Association. He participated in this discussion with other past Fed Chairs Janet Yellen and Ben Bernanke.In December, the Federal Reserve announced its final rate hike of 2018, raising interest rates to 2-1/4 to 2-1/2 percent. The market was expecting this rate hike which is the ninth one since 2015 as the Fed unwinds its policies put in place to address the financial crisis a decade ago.President Trump, who had named Jerome Powell as Fed Chair in February 2018, had appealed to the Committee to hold the rate hike. In August he had told Reuters that he was not “thrilled” with the Fed raising interest rates.“You have to understand, we’re fighting some trade battles and we’re winning. But I need accommodation too,” said President Trump, referencing ongoing negotiations with China.In public comments, Powell had remained firm that the hikes were needed and necessary. “Sound policymaking is as much about managing risks as it is about responding to the baseline forecast,” he had said.According to Politico, while Powell has been repeatedly criticized by President Trump for the central bank’s campaign of steady rate hikes, the Fed chairman has said there has been no direct contact between him and the president in recent months. Still, he said he would be open to meeting with Trump. “Meetings between presidents and Fed chairs do happen,” he said. “Nothing has been scheduled.” And the President might not have the authority to remove the Fed Chief either, according to Steven Mnuchin, Treasury Secretary. The president can remove a member of the Fed board only “for cause,” which does not include policy disagreements. Related Articles Home / Daily Dose / Fed Chair Jerome Powell, Clarifies His Stance Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 4, 2019 1,395 Views  Print This Post Fed Chair Jerome Powell, Clarifies His Stance Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Sign up for DS News Daily in Daily Dose, Featured, Government, News About Author: Radhika Ojha Federal Reserve Interest rates Jerome Powell President Trump Rate Hikes 2019-01-04 Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Previous: Examining the Enforcement of TILA Next: Primary Residential Mortgage Unveils Succession Plans Tagged with: Federal Reserve Interest rates Jerome Powell President Trump Rate Hikes The Best Markets For Residential Property Investors 2 days agolast_img read more

Read More →

Salmonella cases trigger almond recall

first_img The FDA said it was working with other health authorities to trace the source of the potentially contaminated products. About 57 people in Wheaton, Ill., became ill in February after eating basil and mesclun prepared by a restaurant, the FDA said in an alert to consumers. Twenty of the cases were confirmed as cyclosporiasis. The same month, 38 people in Irving, Tex., fell ill after eating basil and mesclun at a local restaurant, and 16 cases were confirmed as cyclosporiasis. May 24, 2004 (CIDRAP News) – Two outbreaks of gastrointestinal illness caused by the parasite Cyclospora may have been associated with raw basil and “mesculin [mesclun]/spring mix salad” served at restaurants in Illinois and Texas, according to the Food and Drug Administration (FDA). Cyclosporiasis, an infection of the small intestine, causes watery diarrhea with frequent, sometimes explosive, bowel movements, the FDA said. Other symptoms include loss of appetite, weight loss, stomach cramps, nausea, vomiting, muscle aches, low-grade fever, and fatigue. Symptoms usually appear about a week after eating contaminated food. Cyclosporiasis was little-known until the 1990s, according to a 2000 report in Clinical Infectious Diseases. In 1996 a multistate outbreak in the United States and Canada was traced to Guatemalan strawberries, demonstrating that the illness is spread by food, according to the report.center_img See also: The FDA said the infection can be treated with antibiotics. People experiencing the above symptoms after eating basil and mesclun or spring mix salads should consult a physician and notify their local health department, the agency said. May 21 FDA news releasehttp://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/2004/ucm108304.htmlast_img read more

Read More →