a Fed tour sparked unexpected Trump praise for Powell
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Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.
The Federal Reserve hasn’t seen two governors break ranks with the board since 1993. It could happen at this month’s FOMC meeting.
The president wanted to take Jerome Powell, the Fed chair, to task over the cost of renovations to the central bank’s headquarters, but Mr. Powell was having none of it.
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The U.S. dollar advanced on Friday, bolstered by solid economic data that suggested the Federal Reserve was justified in taking a patient approach to cutting interest rates, while tariff negotiations showed more clarity.
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A sprawling $2.5 billion project to renovate the central bank’s headquarters in Washington has become the focal point of attacks from the Trump administration.
The Senate on Thursday advanced the controversial nomination of Emil Bove, teeing up a final vote on his lifetime appointment to an appeals court. Bove, who is currently serving in the No. 3 role at the Justice Department, has been nominated by President Trump for a judgeship on the 3rd Circuit Court of Appeals. The…
A looming U.S. deadline for more severe global tariffs is among a barrage of upcoming events threatening to disrupt an increasingly calm U.S. stock market that has set a string of all-time highs.