Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump in bid to end feud that left stock markets reeling over fears president will fire him
Dow Jones closed up 1,086.25 points, or 4.98 per cent, on Wednesday
It was the stock index's largest single-day points gain in U.S. history
Follows biggest-ever Christmas Eve plunge for markets on Monday
White House officials tried to soothe fears over Trump's fury at Federal Reserve
He's upset about rate hikes and reportedly said he wanted to fire the fed chair
Federal Reserve Chairman Jerome Powell is now telling the White House that he'd be willing to meet with President Trump to discuss their differences
By Francesca Chambers, White House Correspondent For Dailymail.com and Wires
Published: 09:32 EST, 27 December 2018 | Updated: 13:36 EST, 27 December 2018
The president and the federal reserve chairman have been on an untenable collision course that has delved into the murky waters of whether the nation's chief executive has the authority to fire the head of the United States' central banking system.
Federal Reserve Chairman Jerome Powell is now telling the White House that he'd be willing to meet with President Trump to discuss his concerns about the independent agency's rate hikes, the Wall Street Journal reports.
A face-to-face chat with Powell could quell some of the president's anger about the Fed policies that Trump blames for the dramatic stock losses an instability in the market, despite a sustained unemployment rate of 4.1 percent or less over the last 14 months.
'A meeting between the two should be helpful,' Larry Kudlow, head of the president's economic, told the Journal. 'Right now, their relationship is like a stock looking for a bottom. There’s only upside.'
more
https://www.dailymail.co.uk/news/article-6532761/Embattled-Federal-Reserve-chairman-tells-White-House-officials-hell-meet-face-face-Trump.html