Trump slams Fed chair Powell
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The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it's a pretext to eventually fire the central bank chief.
President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.
11hon MSN
Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.
In a response to Fortune, Federal Reserve Bank of St. Louis President Alberto Musalem defended the Fed's autonomy, citing global evidence that independent central banks deliver stronger inflation and employment outcomes.
A dispute over the Federal Reserve’s renovation of its headquarters could provide the pretext to attempt the removal of Fed chief Jerome Powell over interest-rate disagreements.
President Donald Trump said Jerome Powell should “resign immediately” if allegations from an administration official that the Federal Reserve chair misled lawmakers prove true.
3don MSN
With Trump's tariff deadlines pushed out, Jerome Powell and the Fed might be comfortable waiting longer before cutting interest rates.
President Donald Trump met with victims' families and surveyed the damage of catastrophic floods that struck the state one week ago.