Fed, Trump and Jerome Powell
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Trump, Epstein
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Four potential Powell replacements have been shortlisted by the betting market. Here's who's in the running to be the next Fed Chair.
President Donald Trump wants the Federal Reserve to slash interest rates by three percentage points, a massive cut that could push borrowing costs back to pandemic lows. With two seats at the Fed likely opening up soon,
President Donald Trump has opened up a new front in his attack on the Federal Reserve and its chair, Jerome Powell: He says the alledged mismanagement of a building renovation project could be grounds for firing Powell.
HUD Secretary Scott Turner criticizes Fed Chair Jerome Powell for spending billions on renovations while Americans struggle with high mortgage rates amid a housing crisis.
"As a big business owner looking at rates at 1% or 2%, I'm definitely saying, 'what do you know that I don't?'"
President Donald Trump has looked to the marble finishes and hefty price tag of the Federal Reserve headquarters to claim grounds to fire Chair Jerome Powell, with whom he has tussled for years over interest rates.
Federal Reserve Governor Chris Waller, an advocate for an immediate interest rate cut, said on Friday he would accept the job as head of the U.S. central bank if asked by President Donald Trump, but so far Trump has not contacted him about it.
President Donald Trump's appointees to a Washington project review board pushed the Federal Reserve five years ago to use more marble for a renovation project at its headquarters campus that the White House is now using as the basis for attacks on central bank Chair Jerome Powell,
"I certainly think there are lessons to be learned there that the administration should be aware of," said Morningstar Wealth's Dominic Pappalardo.
Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell.