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Trump, Powell and federal reserve
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The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.
The Republican lawmakers expressed their approval of Trump's intention to fire him, according to the White House officials and sources on Wednesday. According to one lawmaker in t
The yearslong project to spruce up central bank buildings in Washington, D.C., received little attention until recently
There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Jerome Powell from the helm of the central bank,
Early trading on Wall Street was quietly mixed as markets shift their attention toward a deluge of corporate earnings reports.
President Donald Trump said he would consider National Economic Council Director Kevin Hassett to replace Jerome Powell as chair of the Federal Reserve. Hassett said he believes the Fed should remain independent but wouldn’t comment on if he would take the job if it was offered to him.
At around midday in the U.S. session on Wednesday, it looked like six months of verbal attacks on Fed Chair Jerome Powell from President Donald Trump for not cutting interest rates were about to reach boiling point - according to Bloomberg News, Powell would soon be fired.
But Wall Street barely flinched Monday, opting to tune out the Trump show and stay focused on the relatively cheerier programming on the horizon: a strong corporate earnings season beginning this week and signs that the economy is still in decent shape.
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