Trump threatened to fire 'this idiot' Fed chairman unless he did his bidding: book
4 months 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 was hurting the economy and his political successes. Ross pushed back on Trump and said that he shouldn't be putting public pressure on the Federal Reserve, which is supposed to remain immune from political pressure. "Although the Ross conversation does not appear to have been previously reported, Trump did not hide his anger toward Powell," notes Forbes.

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History of this topic

The Federal Reserve takes on Trump—and stubborn inflation
1 week, 1 day 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 US Fed Chair Jerome Powell: ‘If I asked him...’
Trending News
2 weeks, 1 day 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 …

Donald Trump says he has no plans to replace Jerome Powell as Fed Chair
2 weeks, 2 days 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, …

Why Trump and the Federal Reserve could clash in the coming years
2 weeks, 5 days ago

Why Trump and the Federal Reserve could clash in the coming years

Associated Press  

WASHINGTON — President-elect Donald Trump campaigned on the promise that his policies would reduce high borrowing costs and lighten the financial burden on American households. And even if Powell reduces the Fed’s benchmark rate, Trump’s own policies could keep other borrowing costs — like mortgage rates — elevated. The Fed would likely respond by slowing or stopping its rate cuts, …

Republicans (Quietly) Disagree With Trump on the Fed
2 weeks, 5 days 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,” …

'Trump’s own aides and allies foiled him': President-elect eyes new economic showdown
1 month ago

'Trump’s own aides and allies foiled him': President-elect eyes new economic showdown

Raw Story  

Federal Reserve chairman Jerome Powell avoided a showdown with Donald Trump during his first term, but he may not escape the once and future president's wrath next time. Powell clearly hopes to avoid get caught up in political drama with the economy headed toward a "soft landing," but a confrontation with Trump looks inevitable because many of his top allies, …

Trump probably won’t try to fire Jerome Powell
1 month 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, 1 week 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 …

Fed’s Powell: Rate cuts are still underway, but there’s no hurry
1 month, 1 week ago

Fed’s Powell: Rate cuts are still underway, but there’s no hurry

CNN  

Washington CNN — Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months. Powell said in a moderated discussion that Fed economists may begin to assess Trump’s plans and how they could affect the economy more seriously as early as …

'Check on his instincts': Experts say one thing could keep Trump under control
1 month, 1 week 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, 1 week 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, 1 week 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
1 month, 1 week 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
1 month, 2 weeks 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
1 month, 2 weeks 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 …

The Fed thinks inflation is vanquished
1 month, 2 weeks ago

The Fed thinks inflation is vanquished

Live Mint  

Federal Reserve Chairman Jerome Powell is sticking with his view that inflation is all but vanquished. Mr. Powell delivered a surprisingly large, 50-basis point cut in September despite persistent above-target inflation and a strong labor market. Economic models tell Mr. Powell and colleagues that inflation will resume its downward drift eventually, and that if they don’t cut rates in the …

Federal Reserve Chair Jerome Powell says won't resign if pressured by Trump after interest rate cuts
1 month, 2 weeks 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
1 month, 2 weeks 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
1 month, 2 weeks 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
1 month, 2 weeks 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?
1 month, 2 weeks 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
1 month, 2 weeks 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
1 month, 2 weeks 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 …

What a Trump administration would mean for the global economy and the Reserve Bank
1 month, 2 weeks ago

What a Trump administration would mean for the global economy and the Reserve Bank

ABC  

Some see it as a potential flashpoint. The discontent across middle America and the deep distrust in US institutions follows 40 years of trickle-down economics and globalisation that have laid waste to much of the nation's heartland. What the US election result might mean for Australia Photo shows Vice President Kamala Harris and Australia's Prime Minister Anthony Albanese toast The …

Trump seizes on Fed rate cut to open new line of attack on economy
3 months ago

Trump seizes on Fed rate cut to open new line of attack on economy

Politico  

The Fed’s move to lower borrowing costs offers Trump a fresh line of attack against the Biden-Harris administration’s economic record — and a new chapter in his often contentious relationship with the Fed chief — that could resonate even as inflation fades. “The decision by the Fed shows the economy and the job market are in very bad shape,” Brian …

‘You May Not Be Crazy': Why The Election Matters To The Fed.
3 months, 1 week ago

‘You May Not Be Crazy': Why The Election Matters To The Fed.

Politico  

Fed Chair Jerome Powell is adamant that the central bank’s interest rate decisions will never be based on politics, only on the economic outlook. And while Powell has made clear that the central bank doesn’t make policy based on politicians’ campaign promises, the outcome of an election is another data point — more lasting than this month’s jobs numbers or …

Fed’s Powell highlights slowing job market in signal that rate cuts may be nearing
5 months, 2 weeks 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
5 months, 2 weeks 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 …

Right-wingers plot to give Trump control over Federal Reserve if reelected
7 months, 4 weeks ago

Right-wingers plot to give Trump control over Federal Reserve if reelected

Raw Story  

Right-wing allies of former U.S. President Donald Trump are reportedly crafting a plan to give the executive branch control over Federal Reserve policy decisions, an effort that comes as the presumptive GOP nominee continues to signal his authoritarian intentions for a potential second term. "A small group of the president's allies—whose work is so secretive that even some prominent former …

Trump to set interest rates himself under secret presidential plan
7 months, 4 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.
9 months, 2 weeks 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
10 months, 2 weeks 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, …

Three takeaways from Fed Chair Powell following July hike decision
1 year, 4 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, 7 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 …

Watch: Fed Chair Jerome Powell dismantles Fox Business reporter's inflation claims
1 year, 9 months ago

Watch: Fed Chair Jerome Powell dismantles Fox Business reporter's inflation claims

Raw Story  

Federal Reserve Chairman Jerome Powell pushed back against a Fox Business correspondent who tried to link inflation to government spending. At a Wednesday afternoon press conference, Fox Business reporter Edward Lawrence suggested President Joe Biden's budget added to inflationary forces. "We don't give advice to the fiscal authorities, and we assume that we take fiscal policy as it comes to …

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, 2 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 …

Progressives led by AOC call for Biden to replace Fed Chair Powell
3 years, 3 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 …

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 …

‘It’s sad and pathetic’: Trump insiders say the president’s plans with Sidney Powell have left them baffled and scared
4 years ago

‘It’s sad and pathetic’: Trump insiders say the president’s plans with Sidney Powell have left them baffled and scared

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. According to multiple reports, one of …

Fed's Jerome Powell Calls For More Economic Aid, Warning 'Weakness Feeds On Weakness'
4 years, 2 months ago

Fed's Jerome Powell Calls For More Economic Aid, Warning 'Weakness Feeds On Weakness'

NPR  

Fed's Jerome Powell Calls For More Economic Aid, Warning 'Weakness Feeds On Weakness' Enlarge this image toggle caption Kevin Dietsch/AP Kevin Dietsch/AP Updated at 4:08 p.m. ET Federal Reserve Chairman Jerome Powell urged Congress to provide another round of pandemic relief Tuesday, saying it's better to do too much than too little. "Even if policy actions ultimately prove to be …

Powell faces lawmakers’ skepticism on some Fed aid programs
4 years, 3 months ago

Powell faces lawmakers’ skepticism on some Fed aid programs

Associated Press  

WASHINGTON — Chairman Jerome Powell on Wednesday defended the Federal Reserve’s efforts to support the economy during the pandemic-induced recession from assertions that its programs bungled aspects of its response. The report said fossil fuel companies accounted for 10% of the Fed’s bond purchases even though they employ just 2% of the workers at larger companies. “Many large layoffs have …

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