Tag Archives: Federal Reserve

The Hill reports: President Trump tore into Federal Reserve Chair Jerome Powell early Thursday, a day after the central bank opted to hold interest rates steady — bucking calls from the president to lower borrowing costs. “‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue,” Trump wrote on his Truth Social platform. “Other than that, I like …

Axios reports: The Federal Reserve kept interest rates steady for the third consecutive meeting on Wednesday, as it cautioned about the economic fallout from tariffs. The Fed warned about the potential of higher prices and a spike in joblessness, as President Trump presses on with aggressive efforts to reset global trade. The Fed’s rate-setting committee voted unanimously to keep the …

USA Today reports: President Donald Trump repeated his desire for lower interest rates but told reporters he wouldn’t fire Jerome Powell, the chairman of the Federal Reserve. “I have no intention of firing him,” Trump said April 22 in the Oval Office, after a swearing-in ceremony for Paul Atkins as chairman of the Securities and Exchange Commision. “I would like …

The Telegraph reports: Trump is assessing whether he can sack the head of the Federal Reserve, the White House has said. Kevin Hassett, Trump’s economic adviser, said on Friday that the president and his team were looking at whether he had the authority to remove Jerome Powell when asked if sacking the Fed chairman was an option. “The president and …

The Associated Press reports: President Donald Trump attacked Federal Reserve Chair Jerome Powell on Thursday for not cutting interest rates and said he could fire him if he wanted to, renewing a threat from his first term that could cause a major legal showdown over the issue of the central bank’s long-standing political independence. “If I want him out, he’ll …

Politico reports: Treasury Secretary Scott Bessent has repeatedly cautioned White House officials that any attempt to fire Federal Reserve Chair Jerome Powell would risk destabilizing financial markets. Bessent’s private message reinforces what President Donald Trump already knows but comes as the president’s anger with the Fed chair is growing because Powell hasn’t shown signs that he will cut interest rates …

The New York Times reports: President Trump lashed out at Jerome H. Powell, the chair of the Federal Reserve, on Thursday, saying “Powell’s termination cannot come fast enough!” Mr. Trump’s ire followed remarks by Mr. Powell on Wednesday, in which he warned in a speech that tariffs could create a “challenging scenario” for the central bank by putting its two …

Yahoo Finance reports: Federal Reserve Chairman Jerome Powell said Wednesday the central bank will “wait for greater clarity” before considering any interest rate adjustments as he expects President Trump’s tariffs to generate “higher inflation and slower growth.” Those twin developments, he acknowledged during a Chicago speech, could create major dilemma for the Fed — which is obligated to keep prices …

The New York Times reports: Jerome H. Powell, chair of the Federal Reserve, warned that President Trump’s tariffs risk stoking even higher inflation and slower growth than initially expected, as he struck a more downbeat tone about the outlook, despite the economy so far remaining in a “good place.” “While uncertainty remains elevated, it is now becoming clear that the …

CBS News reports: The Federal Reserve on Wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease borrowing costs as inflation-weary consumers are grappling with high rates on everything from mortgages to credit cards. It is the first drop in the federal funds rate — or …

The Washington Post reports: The Federal Reserve is ready to cut interest rates, confident that inflation is easing to normal levels and wary of any more slowing in the job market. “The time has come for policy to adjust,” Fed Chair Jerome H. Powell said Friday, in his most anticipated speech of the year. “The direction of travel is clear.” …

ABC News reports: Consumer prices rose 2.9% in July compared to a year ago, cooling slightly from the previous month and extending a monthslong slowdown of price increases. The fresh inflation reading is the lowest since March 2021. The consumer-price index lands just below the 3% rate that economists had expected. Inflation has slowed for five consecutive months, reversing a …

CNBC reports: An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. The core personal consumption expenditures price index increased just a seasonally adjusted 0.1% for the month and was up 2.6% from a year ago, the latter number down 0.2 percentage point from the …

The Wall Street Journal reports: Donald Trump’s allies are quietly drafting proposals that would attempt to erode the Federal Reserve’s independence if the former president wins a second term, in the midst of a deepening divide among his advisers over how aggressively to challenge the central bank’s authority. Former Trump administration officials and other supporters of the presumptive GOP nominee …

Here’s the transcript of the exchange: QUESTIONER: But that is illegally taking money out the back door, not through the proper channels, or adding zeroes to bank accounts to the media or maybe your political opponents. How are you going to stop that illegal under-the-table spending of money from the Federal Reserve? RAMASWAMY: The answer is, you have to actually …

The Washington Post reports: A year after inflation soared to the highest level in four decades, prices are returning closer to normal levels, with families and businesses feeling the difference as policymakers debate how much more to slow the economy. Government data released Wednesday showed a notable drop in inflation: Prices rose 3 percent in June compared with the year …

The New York Times reports: The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday, continuing its aggressive campaign to cool rapid inflation even as the economy begins to slow. Central bankers voted unanimously to make the unusually large interest rate move, and the policy-setting Federal Open Market Committee signaled in its post-meeting statement that more …

The Wall Street Journal reports: President Biden is set to nominate Federal Reserve Chairman Jerome Powell to a second term leading the central bank, the White House said Monday, opting for continuity in U.S. economic policy despite pushback from some Democrats who wanted someone tougher on bank regulations and climate change. Mr. Biden will also nominate Fed governor Lael Brainard …

The Washington Post reports: Judy Shelton’s nomination to the Federal Reserve Board of Governors failed to advance in the Senate on Tuesday, jeopardizing her prospects of being confirmed due to a combination of Republican absences and opposition to her installation to the central bank. On a 47-50 vote, Democrats and two Republican senators filibustered Shelton’s nomination to the Fed. Senate …

NBC News reports: About two weeks ago, Jake Devney started having a hard time getting quarters at the bank. Devney owns Coin Clean Laundry in Minneapolis and usually keeps about five to seven days worth of quarters in their coin vault. “Right now, pretty much every other day we have to go and exchange the quarters. So take them out …