Tag Archives: Jerome Powell

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 …

CNBC reports: Stocks fell again on Monday as President Donald Trump ramped up his attacks on Federal Reserve Chair Jerome Powell, raising questions about the central bank’s independence, while traders received little signs of progress on global trade talks. The Dow Jones Industrial Average traded 973 points lower, or 2.5%. The S&P 500 shed 2.4%, and the Nasdaq Composite lost …

Yahoo Finance reports: US stocks fell sharply Monday as President Trump hurled more social media insults toward Fed Chair Jerome Powell, sparking concerns of Fed independence at a time when markets are still reacting to the president’s whipsawing tariff policy. The S&P 500 was down over 2.7%, while the tech-heavy Nasdaq sank 3%, leading the way down. The Dow Jones …

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 …

CNBC reports: Stocks fell sharply on Wednesday, as a stark warning from Nvidia roiled global tech and concerns from Federal Reserve Chair Jerome Powell about the economic impact of tariffs raised alarm among skittish investors. The Dow Jones Industrial Average lost 699 points, or 1.7%. The S&P 500 dropped 3%, led down by the information technology sector. The Nasdaq Composite …

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 …

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.” …

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 …

CNN reports: How bad is the coronavirus economy? The worst ever, says Fed Chairman Jerome Powell. “We are going to see economic data for the second quarter that is worse than any data we have seen for the economy,” Powell said. “There are direct consequences of the disease and measures we are taking to protect ourselves from it.” The recovery …