President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a decision likely to result in sharp changes to the powerful agency that could bring it closer to the White House.
The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year.
Federal Reserve Chair Jerome Powellsaid Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
Wednesday, Dec. 10, the Federal Reserve lowered interest rates once again for a third consecutive time.
The Federal Reserve will almost certainly reduce its key interest rate Wednesday, but the bigger question for financial markets and the economy is what signals Chair Jerome Powell may send regarding the central bank’s next steps.
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials this week who have called for a more urgent approach.
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 longstanding political independence.
The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday.
Americans’ bank accounts are safe despite the Trump administration’s shutdown of a consumer financial regulatory agency, Federal Reserve Chair Jerome Powell said Tuesday.
