Trump official criticizes Fed chief Powell
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The president’s attacks on the independence of the Federal Reserve could further harm the dollar’s status as the preeminent international reserve currency, making credit dearer rather than cheaper.
Fed Chair Jerome Powell has sketched out new conditions that could trigger rate cuts by summer’s end, but inflation remains a big question.
President Donald Trump on Monday continued his extended attack against Federal Reserve Chair Jerome Powell and the central bank’s Board of Governors, calling for ultra-low rates in an intensifying campaign demanding interest rate cuts.
Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.
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.
Republicans believe Powell’s testimony to Congress about an ongoing $2.5 billion DC office renovation may be a way to force him to step aside.
JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern".
14hon MSN
But their presence made a lot more sense when the new commissioners spoke up — and promptly took aim at one of Trump’s political foes, Federal Reserve Chair Jerome Powell. Powell has resisted Trump’s demands to lower interest rates.