Firing Powell News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Have been much higher than 3%. and the stock market as high as it's been would have been at least i think probably anywhere from 7 to 10,000 points higher. but they wanted to raise interest rates. you explain that to mement. >> the president's raushs come as dow jones racks up its fifth con ssecutive weekly decline. the longest streak since 2011. at one point, reports surfaced that trump discussed firing powell, the head of the fed. i want to bring in catherine, she is a "washington post" opinion columnist and cnn political commentatocommentator. hello, thanks for joining us. >> good to be her...

Interest rates and even reports saying trump was considering firing powell as u.s. markets plummeted. keeping an eye on the dow, look at that. up over 800 points and that is partly because of powell's comments. cnn's business editor at large and the host of "quest means business." why was this so important that powell say this? it's having an impact. >> it is having an impact. the day was off to a good start. the jobs numbers were an excellent boost to a market looking for a form of good news after the apple announcement. we are already poised, if you like, for a rocket to rise. when powell ma...

Adding to the uncertainty. the big drop on christmas eve had to do with donald trump talking about firing powell, that was in tweets, secretary mnuchin went to the backs to talk to them, there's a lot of uncertainty going on. the fact that congress cannot keep the government open, despite disagreeing about $1 billion in a budget. it has them worried about they won't be able to agree on trade, settle on a new nafta, and settle on disagreements with china. that's what they're after. >> how long can this go on before we see effects of it as a whole, collectively? >> the remedy in congress probabl...

The fed's historic intervention and exceptionally low interest rate policy that confronted the 2008 financial crisis. "the new york times" reports the president has told aides he believes powell could turn him intois herbert hoover. the u.s. president at the beginning of the great depression. bloomberg reports the president has discussed firing powell as the fed chair forecasts more rate increases next year. in a statement, democratic congressional leaders say "it's christmas eve and president trump is plunging the country into chaos. the stock market is tanking and the president is waging a p...

Remember, he picked him. this week secretary mnuchin said he could not fire him. and talking about firing powell is bad for the markets. the president has often blamed him for the market plunge. >> what was the treasury secretary thinking? he should know better. >> i don't know. it sounds like it was a check-in call with the banks saying it was a terrible week on wall street, and the banks are like, everything is fine, it was just a bad week on wall street. at the forefront, when you see the comparisons to the financial crisis, that must be a real bur under the saddle. >> how often do those ca...