President Trump Criticizes Fed Rate Cut, Considers Powell Replacement
Trump says the U.S. Federal Reserve's 25 basis point reduction is insufficient and is interviewing several candidates to replace Chair Jerome Powell within two weeks.
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Terms & Concepts
Federal Reserve (Fed): The central banking system of the United States, responsible for setting monetary policy and regulating financial institutions.
Basis Point (bp): A unit equal to one hundredth of a percentage point, commonly used to describe changes in interest rates.