Federal Reserve Chairman Jerome H. Powell treaded carefully Tuesday around questions about President Donald Trump’s new trade and financial policies.
Federal Reserve chair Jerome Powell was once again clear he did not believe the president has the ability to interfere in the central bank. Over the years, Trump has regularly expressed frustration with Powell over his monetary policy.
U.S. inflation accelerated last month, unwelcome news that make lower interest rates less likely any time soon.
Federal Reserve Chair Jerome Powell said Wednesday President Donald Trump’s calls for lower interest rates won’t lead the central bank to change its rate decisions
The executive order is particularly challenging for the central bank because its insulation from short-term politics helps give it credibility in financial markets.
The hearing before the Senate Banking Committee was relatively quiet absent a few back-and-forths on the economic effects of Donald Trump’s tariffs.
Last year, Trump suggested the U.S. president should have "at least" a say over setting interest rates, something that would end the Fed’s independence, though Powell has vowed to serve out his term, which is due to end in 2026, and Trump has said he doesn’t plan on attempting to fire Powell.
Donald Trump has beckoned the Federal Reserve to slash the federal funds rate, evidently out of fear that current monetary policy will obstruct his imminent imposition of widespread tariffs. Jerome Powell,
A disappointing inflation reading and soaring egg prices have undermined Trump's promise to reduce costs on "day one."
President Trump's comments come a day after Fed Chairman Jerome Powell said on Capitol Hill that the central bank doesn’t need to “hurry" to lower interest rates.
Investors are braced for more Trump tariffs as focus turns to inflation and Fed Chair Jerome Powell's Senate testimony.
Voters elected Trump to find a way to curb the hotter inflation that occurred under President Joe Biden. But the president has also sought to impose tariffs to extract concessions and raise revenues on the belief — which many economists dispute — that America’s yawning trade deficit is a sign of weakness.