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“The law gives me a four-year term and I fully intend to serve it,” Powell said, speaking on July 10 before the House of Representatives Financial Services Committee.
President Donald Trump has slammed the Fed and Powell for not cutting interest rates, which Trump argues is needlessly putting the brakes on the economy. But Powell also indicated during the hearing that a rate cut may be around the corner, propelling the S&P 500 equity index above a record 3,000.
