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their solvency. All bank presidents reported that they were awash in dough and had credit to burn, thanks to unnamed overseas institutions.
In a November Washington Post interview, President Trump rued the day he chose Powell, “Frankly, I’m not even a little bit happy with my selection of Jay. Frankly, not even a little bit.”
When asked to comment on the president’s comment, Mr. Powell said he was committed to upholding the independence of the Federal Reserve, regardless of who appointed him or the “loyalty oath” attributed to him by the president. “Anything more I have to say on this matter will be in my resignation letter, if and when I choose to retire,” he stated.
This story will be updated as new information becomes available.
