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Trump has discussed firing Federal Reserve chairman in ‘frustration’ after rate interest hike: report

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President Donald Trump may fire the chairman of the Federal Reserve because of his decision to raise interest rates, Bloomberg reports.

The report says Trump has “discussed firing Federal Reserve Chairman Jerome Powell as his frustration with the central bank chief intensified,” blaming him for months of stock-market losses.

The report is sourced to four people familiar with the matter.

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“Advisers close to Trump aren’t convinced he would move against Powell and are hoping that the president’s latest bout of anger will dissipate over the holidays, the people said on condition of anonymity. Some of Trump’s advisers have warned him that firing Powell would be a disastrous move,” the report says.

Trump has been counseled to not make the move, the report said, and market watchers think things could go sideways if he did.

“Any attempt by Trump to push out Powell would have potentially devastating ripple effects across financial markets, undermining investors’ confidence in the central bank’s ability to shepherd the economy without political interference.,” the report said.


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2020 Election

‘Flat-out sabotage’ already underway as Mnuchin tries to put $455 billion in COVID funds out of Biden team’s reach

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Treasury Secretary Steve Mnuchin is under fire for attempting to undermine the incoming Biden administration's response to the Covid-19 pandemic on his way out the door after his department confirmed Tuesday that it intends to place $455 billion in unspent coronavirus relief funds into an account that requires congressional authorization to access.

Bloomberg reported that the funds, which Congress allocated to the Federal Reserve in March for emergency lending programs to assist local governments and struggling businesses, will be put in the Treasury Department's General Fund following Mnuchin's widely condemned decision last week to cut off the relief programs at the end of the year.

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2020 Election

Donald Trump is racing to weaken several laws and implement other last-minute policies before Jan. 20

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Six days after President Donald Trump lost his bid for reelection, the U.S. Department of Agriculture notified food safety groups that it was proposing a regulatory change to speed up chicken factory processing lines, a change that would allow companies to sell more birds. An earlier USDA effort had broken down on concerns that it could lead to more worker injuries and make it harder to stop germs like salmonella.

Ordinarily, a change like this would take about two years to go through the cumbersome legal process of making new federal regulations. But the timing has alarmed food and worker safety advocates, who suspect the Trump administration wants to rush through this rule in its waning days.

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Marco Rubio torn to pieces for whining about media only reporting on ‘bad’ COVID pandemic news

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More than 2,000 Americans died from the novel coronavirus on Tuesday and hospitalizations resulting from the disease surged to a record high of 88,000.

Despite this grim news, Sen. Marco Rubio (R-FL) complained on Wednesday that the news media is only covering the negative aspects of a pandemic that so far has killed 260,000 Americans in just nine months.

"On Covid, media emphasized bad news even when we had positive developments and did more Trump/hydroxychloroquine stories than all vaccine stories combined," he wrote. "Part of a broader pattern of characterizing everything as bad news Republicans are to be blamed for."

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