President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate Wednesday, but the Fed matters less than broader economic trends when it comes to longer-term borrowing costs, economists say.
The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House.
President Donald Trump on Friday oversaw the White House swearing-in of the new Federal Reserve chair and said he would like Kevin Warsh’s help in stimulating the economy even as he tried to emphasize that the nation’s central bank would remain independent.
The Senate on Wednesday is set to confirm President Donald Trump’s nominee to lead the Federal Reserve, Kevin Warsh, bringing new leadership to the world’s most powerful central bank at a fraught moment for the global economy.
The Federal Reserve held interest rates steady Weds, April 29, 2026.
Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at risk.
he Senate Banking Committee voted on party lines Wednesday to approve Kevin Warsh as the next chair of the Federal Reserve to replace Jerome Powell, a longtime target of President Donald Trump’s insults for not cutting borrowing costs as far as the president wanted.
The Justice Department has ended its investigation into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of Kevin Warsh as his successor.
Donald Trump’s nominee to lead the Federal Reserve pledged to fight inflation at a hearing Tuesday even as the president renewed his demands for interest rate cuts that could worsen it.
Kevin Warsh’s confirmation hearing before the Senate Banking Committee is Tuesday, April 21, 2026.
