The Fed: White House explored legality of demoting Powell from chairman, report says [MarketWatch]
JP Morgan Chase & Co. (JPM)
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Source: MarketWatch
White House explored legality of demoting Powell from chairman, report says The White House explored the legality of demoting Fed Chairman Jerome Powell in February, according to a report by Bloomberg Television. Citing people familiar with the matter, the report said the White House general counsel’s office weighed the legality of stripping Powell of his chairmanship of the central bank, and leaving him as just a Fed governor. The review came after President Donald Trump spoke of firing Powell, the report said. Bloomberg said it didn’t know the result of the administration’s review. Asked about the report, Larry Kudlow, the director of the National Economic Council, said Trump is not planning to demote Powell but didn’t deny the report. “It’s a six-month-old story,” Kudlow told reporters, according to Reuters. “It allegedly happened six months ago, and it’s not happening today, and therefore I have nothing to say about it. It is what it is.” The report comes just a day ahead of a Fed
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JPM
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JPM
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- 4/15/24 - Form 424B2
- 4/15/24 - Form 4
- 4/15/24 - Form 144
- JPM's page on the SEC website