Mohamed El-Erian says Powell should resign to preserve Fed independence
Mohamed al-Eerian, President of Queens’ College, speaks during a panel debate at the center of the International Monetary Fund during the annual meetings of the IMF and the World Bank on the Washington DC on October 13, 2022.
James Lawler Duggan | Reuters
On Tuesday, Mohamed al-animal’s Federal Reserve President Jerome Powell asked the Central Bank to leave the Chief Economy Consultant in Allianz voluntarily to leave a public position.
“President Powell’s aim is to maintain the operational autonomy of the Fed (I think it’s vital), then he needs to resign,” he said. Morning article on x.
Queen College President at the University of Cambridge El-Anian said that Powell was aware of the fact that Powell saw as a Wall Street consensus, who wanted to serve the rest of his term as the president who ended in May 2026.
However, El-animal said Powell’s resignation would be better than the current scenario and that the Fed’s independence was faced with “growing and expanding”. El-usian said these threats will only increase if Powell remains presidency.
Al-usian, Treasury Secretary Scott Bessent expression Fed’s basic monetary policy responsibilities to the fields of “intention” has experienced. Bessent told CNBC on Monday, “All” Fed should be subjected to a review, he said.
Explanations, President Donald Trump and his advisors, accelerated the attacks on Powell on the decision to keep the Fed’s interest rates fixed since December. Powell said Trump’s plan for upright tariffs has created economic uncertainty and forced the bank to change rates while waiting for developments.
