Trump's return: Fed's Powell vows to withstand pressure
In a conversation with PAP, the Italian columnist and writer Beppe Severgnini expressed that Donald Trump's success in the U.S. presidential elections is the result of Americans' "anger" and "three 'i' words": inflation, immigration, and the improvisation of Trump's rival, Kamala Harris.
Severgnini, a commentator for various Italian and international media and a bestselling author, believes that Kamala Harris's improvisation is a result of not having had enough time to properly prepare the election campaign, as President Joe Biden took too long to decide not to run for a second term.
The prominent writer and columnist for Corriere della Sera noted that Americans, perhaps regrettably, specifically chose Trump, seeking a leader with authoritarian traits. He pointed out that Trump had made it clear during his campaign that he intended to deport 20 million undocumented immigrants, highlighting the future president’s statements about mass deportations.
In his opinion, one should also hope that Trump during his term "does not do what he promised" during the campaign.
Fed chairman will not step down
Reuters reports that the chairman of the Federal Reserve, Jerome Powell, announced that he would not agree to an early departure from his position if the new U.S. President, Donald Trump, attempts to remove him from power.
Reuters recalls that during his first term in the White House, Donald Trump often criticized the Fed and its chairman for the actions of the American central bank.
The focus on Thursday was the Fed's decision to cut interest rates by 0.25 points to a range of 4.50% to 4.75%. The Fed stated that the risks to achieving its goals are becoming more balanced.
