Donald Trump says he has no plans to replace US Fed Chair Jerome Powell: ‘If I asked him...’
Trending News
1 month ago

Donald Trump says he has no plans to replace US Fed Chair Jerome Powell: ‘If I asked him...’

Live Mint  

The United States President-elect Donald Trump, at NBC's Meet the Press on Sunday, said that he has no plans to replace Federal Reserve Chair Jerome Powell once he returns to the White House, reported the news agency Reuters. Powell's term as the Fed chairman expires in May 2026, he told reporters last month that he wouldn't step aside early if Trump asked for his resignation. “I think if I told him to, he would,” said Trump on the NBC Meet the Press, his first network television interview since winning the US election in November. The Greatest Job in Government Trump also ridiculed Powell's role and called it out to be “the greatest job in government,” and he also said, “you show up to the office once a month, and you say, Let’s see, flip a coin.” According to the interview transcript released Sunday cited in the agency report, Trump responded to a question on Powell's statement of refusing to step down if asked.

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History of this topic

Top Federal Reserve bank regulator, under fire from GOP, to step down next month
4 days, 16 hours ago

Top Federal Reserve bank regulator, under fire from GOP, to step down next month

Associated Press  

WASHINGTON — The Federal Reserve’s top financial regulator said Monday that he would resign next month, avoiding a potential confrontation with the incoming Trump administration and Republicans in the Senate. Fed governor Michael Barr said in a letter to President Joe Biden that he would step down as vice chair for supervision Feb. 28, or earlier if a successor was …

Top Federal Reserve bank regulator, under fire from GOP, to step down next month
5 days, 9 hours ago

Top Federal Reserve bank regulator, under fire from GOP, to step down next month

LA Times  

The Federal Reserve’s top financial regulator said Monday that he would resign next month, avoiding a potential confrontation with the incoming Trump administration and Republicans in the Senate. Fed governor Michael Barr said in a letter to President Biden that he would step down as vice chair for supervision Feb. 28, or earlier if a successor was confirmed. Sen. Tim …

The Federal Reserve takes on Trump—and stubborn inflation
3 weeks, 5 days ago

The Federal Reserve takes on Trump—and stubborn inflation

Live Mint  

A lot is riding on the numbers after the decimal point. In such a scenario, Mr Trump would presumably be satisfied enough with the central bank that he would feel little compulsion to snipe at Jerome Powell, the Fed’s chairman, or, worse, to start a legal battle by trying to oust Mr Powell before his term expires in May 2026. …

Donald Trump says he has no plans to replace Jerome Powell as Fed Chair
1 month ago

Donald Trump says he has no plans to replace Jerome Powell as Fed Chair

Hindustan Times  

President-elect Donald Trump said he has no plans to replace Fed Chair Jerome Powell once he returns to the White House, saying “I don’t see it.” Trump has previously said he should have a say in monetary policy and the setting of interest rates. “I think if I told him to, he would,” Trump said on NBC’s Meet the Press, …

Republicans (Quietly) Disagree With Trump on the Fed
1 month ago

Republicans (Quietly) Disagree With Trump on the Fed

Politico  

The president-elect’s chief issue with the Fed seems to be that he wants more influence over its decisions. Powell’s term also ends in May 2026, at which time Trump will be able to pick a new Fed chief, who could shift the modern, arms-length relationship between presidents and central bank leaders. “I like the way it’s set up right now,” …

Powell: Fed’s independence from politics is vital to its interest rate decisions
1 month ago

Powell: Fed’s independence from politics is vital to its interest rate decisions

Associated Press  

WASHINGTON — Chair Jerome Powell said Wednesday that the Federal Reserve’s ability to set interest rates free of political interference is necessary for it to make decisions to serve “all Americans” rather than a political party or political outcome. In his remarks Wednesday, Powell said, “We’re supposed to achieve maximum employment and price stability for the benefit of all Americans …

Trump should challenge the Fed’s policies
1 month, 1 week ago

Trump should challenge the Fed’s policies

Live Mint  

Now that Donald Trump is the president-elect, expect warnings about the dangers of compromising the independence of the Federal Reserve. But unless these goals align with the Fed’s model for achieving its dual mandate—maximum employment and stable prices—the central bank could undercut Mr. Trump’s agenda. This followed the jumbo 50 basis-point cut announced in September, a decision that Mr. Powell …

Trump probably won’t try to fire Jerome Powell
1 month, 3 weeks ago

Trump probably won’t try to fire Jerome Powell

Live Mint  

President Trump’s election has reignited the debate over whether he might attempt to fire Federal Reserve Chairman Jerome Powell. Yet firing Mr. Powell is unlikely to be on the president-elect’s immediate priority list unless inflation suddenly spikes and forces the Fed to reverse course. Why would Mr. Trump rush to fire someone who’s in the midst of lowering interest rates, …

Economist reveals how Trump could make the economy worse
1 month, 3 weeks ago

Economist reveals how Trump could make the economy worse

Daily Mail  

Former Treasury Secretary Larry Summers addresses the New York Economic Club, expressing serious concerns about the Federal Reserve 's approach to inflation. Summers, who has been vocal about inflation risks, warned that the Federal Reserve, under Jerome Powell, is not acting decisively enough to address "overheating risks" in the economy. Summers speculated that a second Trump administration could exacerbate inflation …

'Check on his instincts': Experts say one thing could keep Trump under control
1 month, 4 weeks ago

'Check on his instincts': Experts say one thing could keep Trump under control

Raw Story  

Federal Reserve Chairman Jerome Powell made it clear to the press that if Donald Trump fired him, he wouldn't leave. If there's one thing Trump loves, it's a high stock market, and the last time he tried to threaten to fire Powell in December 2018, the market wasn't happy about it. "Markets were already panicky about trade wars and slowing …

Long shot or not, Trump must make peace with Fed Chair Powell
1 month, 4 weeks ago

Long shot or not, Trump must make peace with Fed Chair Powell

Live Mint  

US bond markets have had a minor meltdown since former President Donald Trump pulled ahead in prediction markets and then won a second term last week, putting upward pressure on mortgages and other household borrowing costs. Fortunately, there’s a clear way for him to mitigate that damage and start his term on the right foot with bond markets: He should …

The Real Reason Trump Won’t Try To Fire Jay Powell
Trending News
1 month, 4 weeks ago

The Real Reason Trump Won’t Try To Fire Jay Powell

Politico  

There’s the law, of course: Fed board members can only be removed “for cause” — not just policy disagreements. It did last time around: Trump considered firing Powell after the central bank raised interest rates in December 2018. Markets were already panicky about trade wars and slowing growth, as well as uncertainty around the Fed’s moves, and reports that Trump …

If Trump tries to fire Powell, Fed Chair is ready for a legal fight
2 months ago

If Trump tries to fire Powell, Fed Chair is ready for a legal fight

Live Mint  

When a frustrated Donald Trump flirted with removing Federal Reserve Chair Jerome Powell in a dispute over interest rates back in 2018, Fed leaders privately readied a break-glass-in-case-of-emergency response: a legal challenge against the president to protect the integrity of America’s central bank. Second, trying to remove the Fed chair now, when the central bank hasn’t finished waging its battle …

Federal Reserve Chair Jerome Powell reveals whether he will resign if Donald Trump asks
Top News
2 months ago

Federal Reserve Chair Jerome Powell reveals whether he will resign if Donald Trump asks

Hindustan Times  

“No”, replied Federal Reserve Chairman Jerome Powell when asked if President-elect Donald Trump would ask him to step down. Jerome Powell sees himself as a public servant, but he seems to be preparing for a possible confrontation with Trump, who recently stated that he would not have direct control over Fed decisions, but he should at least be allowed to …

U.S. Fed chair says will not leave early if asked by Trump
2 months ago

U.S. Fed chair says will not leave early if asked by Trump

Raw Story  

U.S. Federal Reserve Chair Jerome Powell said Thursday that he would not resign if asked to leave early by President-elect Donald Trump. Speaking at a press conference after unveiling a quarter point interest rate cut, Powell -- whose term as Fed chair ends in 2026 -- added that firing any of the Fed's seven governors was also "not permitted under …

Federal Reserve Chair Jerome Powell says won't resign if pressured by Trump after interest rate cuts
2 months ago

Federal Reserve Chair Jerome Powell says won't resign if pressured by Trump after interest rate cuts

Firstpost  

When questioned about Trump’s apprehension and whether he would step down if Trump asked him to leave the role, Powell delivered a blunt ’no' US Federal Reserve Chair Jerome Powell said that he would not resign if he faced any pressure from the new President-elect Donald Trump after the central bank lowered interest rates by a quarter-point on Thursday afternoon. …

Powell to Trump: Go ahead, make my day
2 months ago

Powell to Trump: Go ahead, make my day

CNN  

New York CNN — Imagine you’re at a job you love but you have a boss you just really don’t get along with. Barely 48 hours after Trump had been named president-elect, the tension was already evident during Powell’s Thursday press conference after the Fed’s two-day monetary policy meeting. Even though Trump gave Powell the equivalent of a promotion in …

Powell to Trump: Go ahead, make my day
2 months ago

Powell to Trump: Go ahead, make my day

CNN  

New York CNN — Imagine you’re at a job you love but you have a boss you just really don’t get along with. Barely 48 hours after Trump had been named president-elect, the tension was already evident during Powell’s Thursday press conference after the Fed’s two-day monetary policy meeting. Even though Trump gave Powell the equivalent of a promotion in …

US Federal Reserve chair says he won't quit if Trump orders
2 months ago

US Federal Reserve chair says he won't quit if Trump orders

ABC  

Sally Sara: Two days after Donald Trump's decisive victory, the US Federal Reserve has cut interest rates by a quarter of a percentage point. But the Fed Chair Jerome Powell says Mr Trump's win will have no immediate effect on future policy decisions. Peter Ryan: Well Sally, in his previous term as US President, Donald Trump pretty much had a …

Donald Trump has a surprising update on the future of Fed boss Jerome Powell
Trending News
2 months ago

Donald Trump has a surprising update on the future of Fed boss Jerome Powell

Daily Mail  

Donald Trump is expected to let Federal Reserve chairman Jerome Powell to stay in his job, Trump has often voiced his frustrations with Jerome Powell and even threatened to remove him from his role as fed chair - an unprecedented move for any president. Anything that causes inflation to jump again could lead Fed policymakers to slow or even halt …

What’s at stake with the Fed, now that Trump has won?
2 months ago

What’s at stake with the Fed, now that Trump has won?

Live Mint  

When Federal Reserve officials decide this week on the path for interest rates, they will have a new factor to consider: the re-election of Donald Trump. Not only could Trump’s policies affect the path for inflation and growth, his return to the White House also poses questions about the Fed’s freedom to set rates without political interference. Trump appointed the …

Fed cuts interest rates again, but Trump’s victory makes future path a lot more murky
Trending News
2 months ago

Fed cuts interest rates again, but Trump’s victory makes future path a lot more murky

LA Times  

The Federal Reserve cut interest rates for a second straight time on Thursday in an effort to keep the economy sailing along by easing the high borrowing costs it engineered to fight inflation. Economists see risks on two fronts: If Trump follows through on his campaign promises to lower taxes and levy across-the-board tariffs, he could reignite inflation and force …

US Fed cuts interest rates by quarter of a percentage point
Top News
2 months ago

US Fed cuts interest rates by quarter of a percentage point

Al Jazeera  

The Fed will have to navigate a changing economic landscape with the election of Donald Trump as the next US president. The United States Federal Reserve has cut interest rates by a quarter of a percentage point as policymakers took note of a job market that has “generally eased” while inflation continues to move towards the central bank’s 2 percent …

Trump threatened to fire 'this idiot' Fed chairman unless he did his bidding: book
4 months, 2 weeks ago

Trump threatened to fire 'this idiot' Fed chairman unless he did his bidding: book

Raw Story  

A new book written by former Commerce Secretary Wilbur Ross claims that former President Donald Trump was hellbent on axing Federal Reserve Chairman Jerome Powell unless he cut interest rates. As Forbes reports, Ross writes that Trump summoned him to a meeting where he demanded that Ross set Powell straight about his policy of raising interest rates, which Trump believed …

Fed’s Powell highlights slowing job market in signal that rate cuts may be nearing
6 months ago

Fed’s Powell highlights slowing job market in signal that rate cuts may be nearing

Associated Press  

WASHINGTON — The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in testimony Tuesday to Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation of the past two years that suggests it is moving closer to cutting interest rates. “The most recent inflation readings, though, have shown …

Fed’s Powell highlights slowing job market, signaling that rate cuts may be near
6 months ago

Fed’s Powell highlights slowing job market, signaling that rate cuts may be near

LA Times  

The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome H. Powell said in testimony Tuesday to Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation of the last two years that suggests it is moving closer to cutting interest rates. “The most recent inflation readings, though, have shown some …

Trump to set interest rates himself under secret presidential plan
8 months, 2 weeks ago

Trump to set interest rates himself under secret presidential plan

The Telegraph  

Donald Trump’s aides have drawn up secret plans to oust the chairman of the Federal Reserve and allow the president to set interest rates, according to reports. Allies are said to have drawn up a range of proposals for the way monetary policy could be run in a second Trump administration, including rolling back the independence of the central bank, …

Jay Powell Is Good At Politics. Just Don’t Call Him Political.
10 months ago

Jay Powell Is Good At Politics. Just Don’t Call Him Political.

Politico  

That poor guy has been through a lot since the Senate confirmed him in early 2018, and his endurance in the role offers a lesson in the politics of the American economy. “I was praising him for the soft landing, the incredible numbers that the economy has right now,” Beyer said, but added that Powell had resisted a mission-accomplished moment: …

Trump says he would replace ‘political’ US Fed chair Powell if elected
11 months ago

Trump says he would replace ‘political’ US Fed chair Powell if elected

Hindustan Times  

Former US president and 2024 White House contender Donald Trump said he would look to replace the "political" chair of the Federal Reserve, Jerome Powell, when his term ends in 2026. Republican presidential candidate and former President Donald Trump In an interview published Friday, Trump accused Powell, who he as president first appointed to run the independent US central bank, …

Fed Chair Jerome Powell warns the fight against inflation is far from over
1 year, 4 months ago

Fed Chair Jerome Powell warns the fight against inflation is far from over

NPR  

Fed Chair Jerome Powell warns the fight against inflation is far from over Enlarge this image toggle caption Kevin Dietsch/Getty Images Kevin Dietsch/Getty Images Federal Reserve Chair Jerome Powell said on Friday inflation is still too high, and he warned that restoring price stability will likely require an extended period of elevated interest rates. Speaking to a gathering of economists …

Three takeaways from Fed Chair Powell following July hike decision
1 year, 5 months ago

Three takeaways from Fed Chair Powell following July hike decision

CNN  

New York CNN — Roughly every six weeks Federal Reserve Chair Jerome Powell delivers a report card that rates the economy’s future performance. A recession isn’t in the cards for now Powell still believes the Fed can achieve what’s known as a “soft landing.” He said on Wednesday, “given the resilience of the economy recently are no longer forecasting a …

Federal Reserve Chair Powell hints at a pause in rate hikes when central bank meets next month
1 year, 7 months ago

Federal Reserve Chair Powell hints at a pause in rate hikes when central bank meets next month

Associated Press  

WASHINGTON — Chair Jerome Powell indicated Friday that the Federal Reserve will likely forgo an increase in its benchmark interest rate when it meets in June for the first time since it began raising its key rate 14 months ago to fight high inflation. Speaking at a Fed conference in Washington, Powell said the central bank’s benchmark rate, which affects …

Jerome Powell could face more opposition as Fed choices get tougher
1 year, 8 months ago

Jerome Powell could face more opposition as Fed choices get tougher

Live Mint  

Chair Jerome Powell has achieved a near-perfect consensus as the Federal Reserve raised interest rates aggressively. “We are getting close to the hardest mile for the Fed in this marathon — the part where backlash to rate hikes will intensify, in ways no one on the Fed has had to weather.” Fed officials have signaled that the FOMC will hike …

Fed Chair Jerome Powell: We won’t hesitate to raise rates to tame inflation
2 years, 7 months ago

Fed Chair Jerome Powell: We won’t hesitate to raise rates to tame inflation

CNN  

New York CNN Business — Hindsight is 20:20, even for the Federal Reserve. The US central bank is in the midst of a “whatever it takes” moment when it comes to inflation, but if Fed officials had known how high inflation would rise, they would have changed their course on policy earlier, Fed Chairman Jerome Powell said Tuesday. “In hindsight, …

Jerome Powell confirmed for second term as Fed Chair
2 years, 7 months ago

Jerome Powell confirmed for second term as Fed Chair

CNN  

CNN — The US Senate on Thursday overwhelmingly confirmed Jerome Powell to a second term as chairman of the Federal Reserve. “Few institutions are more important to help steer our economy in the right direction and to fight inflation than the Fed,” said Senate Majority Leader Chuck Schumer ahead of the vote. He added that “Chairman Powell presided as Fed …

Jerome Powell endorsed for second term as U.S. Federal Reserve chair
3 years, 1 month ago

Jerome Powell endorsed for second term as U.S. Federal Reserve chair

The Hindu  

U.S. President Joe Biden on November 22 announced that he was nominating Jerome Powell for a second four-year term as Federal Reserve chair. "I'm confident that Chair Powell and Dr. Brainard's focus on keeping inflation low, prices stable, and delivering full employment will make our economy stronger than ever before," Biden said. Progressive Democratic Senator Elizabeth Warren of Massachusetts on …

Biden reappoints Jerome Powell as Fed chairman at a critical time for the economy
3 years, 1 month ago

Biden reappoints Jerome Powell as Fed chairman at a critical time for the economy

NPR  

Biden reappoints Jerome Powell as Fed chairman at a critical time for the economy Enlarge this image toggle caption Kevin Dietsch/Getty Images Kevin Dietsch/Getty Images President Biden has chosen to keep Jerome Powell in place for a second term as Federal Reserve chairman — a move that signals continuity with the central bank's policies at a time when the economy …

A potential Powell renomination for Fed faces some dissent
3 years, 3 months ago

A potential Powell renomination for Fed faces some dissent

Associated Press  

WASHINGTON — Resistance to the potential renomination of Federal Reserve Chair Jerome Powell intensified this week, with Sen. Elizabeth Warren becoming the first senator to publicly oppose him and many progressive groups pushing for some alternative leader at the Fed. Still, at a Senate hearing Tuesday on the government’s support for the economy, Warren argued that actions the Powell Fed …

Fed Chairman Jerome Powell warns inflation could last months longer than expected
3 years, 3 months ago

Fed Chairman Jerome Powell warns inflation could last months longer than expected

Daily Mail  

Federal Reserve Chair Jerome Powell says inflation is likely to remain high in the coming months, spelling more bad news for President Biden. Federal Reserve Chair Jerome Powell says inflation is likely to remain high in the coming months, spelling more bad news for President Biden The remarks caused the Dow to drop more than 600 points, before it recovered …

Progressives led by AOC call for Biden to replace Fed Chair Powell
3 years, 4 months ago

Progressives led by AOC call for Biden to replace Fed Chair Powell

CNN  

New York CNN Business — Progressive Democrats, including New York Rep. Alexandria Ocasio-Cortez, are calling on President Joe Biden to give the Federal Reserve a sweeping makeover by replacing Jerome Powell as chairman. “We urge President Biden to reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice,” the lawmakers said in a statement Tuesday …

Will Joe Biden stick with Jerome Powell at the Fed?
3 years, 8 months ago

Will Joe Biden stick with Jerome Powell at the Fed?

CNN  

New York CNN Business — President Joe Biden has a lot on his plate right now. And there’s precedent for Biden to stick with Powell so he can continue to manage the central bank’s response to this economic crisis: After all, Biden’s former boss, President Barack Obama, did exactly that when he re-nominated Ben Bernanke for a second term as …

Fed’s Powell sees US boom ahead, with COVID still a risk
3 years, 8 months ago

Fed’s Powell sees US boom ahead, with COVID still a risk

Associated Press  

WASHINGTON — The U.S. economy is poised for an extended period of strong growth and hiring, the chair of the Federal Reserve said in an interview broadcast Sunday, though the coronavirus still poses some risk. Chair Jerome Powell, speaking to CBS’ “60 Minutes,” also said that he doesn’t expect to raise the Fed’s benchmark interest rate, currently pegged at nearly …

Donald Trump floats Sidney Powell as special counsel to investigate voter fraud allegations
4 years ago

Donald Trump floats Sidney Powell as special counsel to investigate voter fraud allegations

ABC  

President Donald Trump has floated naming lawyer Sidney Powell, who was booted from his campaign's legal team after pushing unfounded conspiracy theories, as a special counsel investigating allegations of voter fraud. Key points: The Trump team cut ties with Ms Powell after a series of baseless claims about the November 3 vote Mr Trump has labelled as "fake news" reports …

Colin Powell: Trump has ‘drifted away’ from the Constitution
4 years, 7 months ago

Colin Powell: Trump has ‘drifted away’ from the Constitution

CNN  

Washington CNN — Former Republican Secretary of State Colin Powell said Sunday that President Donald Trump has “drifted away” from the Constitution, adding to a growing list of former top military officials who have strongly criticized the President’s response to the nationwide protests surrounding the police killing of George Floyd. And the President has drifted away from it,” Powell, a …

Trump and Biden should agree on this: Fed Chair Jerome Powell deserves a second term
4 years, 9 months ago

Trump and Biden should agree on this: Fed Chair Jerome Powell deserves a second term

CNN  

New York CNN Business — The Federal Reserve has responded quickly and forcefully to the Covid-19 pandemic in the United States. That’s why presidential candidates should acknowledge the Fed’s efforts and pledge to keep current chair Jerome Powell on the job so he can help manage the economic recovery from the coronavirus. And I think, ultimately, we will be rewarded.” …

As virus roils markets, Trump again threatens Fed chairman
4 years, 9 months ago

As virus roils markets, Trump again threatens Fed chairman

Associated Press  

WASHINGTON — President Donald Trump said Saturday he had the power to fire or demote Federal Reserve Chairman Jerome Powell, adding new fuel to his long-running animus toward the central bank’s leader at a moment when the economy was at risk of edging into recession. “I have the right to do that or the right to remove him as chairman,” …

Fed chair meets with Trump at the White House
5 years, 1 month ago

Fed chair meets with Trump at the White House

CNN  

CNN — President Donald Trump held an unannounced meeting with Federal Reserve Chairman Jerome Powell at the White House residence on Monday, the first such meeting between the President and the nation’s top monetary policymaker since an informal dinner last February. The White House readout included a more expansive list of topics discussed than the Fed’s, including negative interest rates …

Donald Trump asks who is bigger enemy, Fed Chair Powell or China’s Xi?
5 years, 4 months ago

Donald Trump asks who is bigger enemy, Fed Chair Powell or China’s Xi?

Live Mint  

President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell spoke about the trade war with China and economic risks to the United States, asking whether his appointee to the US central bank was a greater "enemy" than China's leader Xi Jinping. "My only question is, who is our bigger enemy, Jay Powel or Chairman Xi?" The …

Fed chair Powell likely to stick to ‘mid-cycle’ message
5 years, 4 months ago

Fed chair Powell likely to stick to ‘mid-cycle’ message

Live Mint  

Federal Reserve chair Jerome Powell comes to this year’s meeting of central bankers in Jackson Hole, Wyoming, caught between discord within the US central bank over appropriate monetary policy and mounting outside pressure for more interest rate cuts. In navigating that divide, Powell is unlikely to use his keynote speech on Friday at the Kansas City Fed’s annual economic symposium …

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