US President Donald Trump on Friday again floated the idea of firing Jerome Powell, the Federal Reserve chair he has long attacked over interest rates he wants lowered. “I don’t know why the Board doesn’t override (Powell),” Trump wrote in a lengthy post on Truth Social criticizing Fed policy. “Maybe, just maybe, I’ll have to…
US Federal Reserve Chair Jerome Powell (AP Photo) The US Federal Reserve, led by chair Jerome Powell, kept benchmark rate unchanged in 4.25-4.5% target range at the FOMCmeet on Wednesday. “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook has…
US President Donald Trump fired a fresh salvo against Federal Reserve chairman Jerome Powell, escalating attacks for resisting further interest rate cuts. The clash is rattling financial markets, raising a critical question: Can Trump actually fire Powell?The answer is murky—and the implications could be huge.Under the Federal Reserve Act of 1913, members of the Fed’s…
Jerome H. Powell, chair of the Federal Reserve, signaled little urgency to lower interest rates with the economy sturdy and inflation still too high in a hearing with lawmakers on Tuesday. Mr. Powell, who testified before the Senate Banking Committee, confronts an economic and political landscape that is far different from what it was when…
Federal Reserve Chair Jerome Powell announced that the US central bank will be keeping its interest rates unchanged for now, citing inflation levels which fall above Fed’s 2 per cent target and a solid job market. Speaking before the Senate Banking Committee on the first of a two-day testimony, Powell hinted that the central bank…