Federal Reserve chairman Jerome Powell should step down in order to protect Fed independence, according to Mohamed El-Erian.
El-Erian is the former chief executive of Pimco and Harvard University’s investment arm. He is currently president of Queen’s College in the U.K. and a columnist for Bloomberg.
“If Chair Powell’s objective is to safeguard the Fed’s operational autonomy (which I deem vital), then he should resign,” El-Erian said in a post on X on Tuesday.
Powell has been severely criticized in recent months by President Donald Trump, who has nickednamed the Fed chairman “Too Late” over his refusal to cut interest rates. In recent weeks, the Trump administration has broadened the criticism to include the Fed’s renovation of its buildings in Washington, D.C. and Powell’s congressional
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