Federal Reserve

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WSJ Editorial Worries About 'Nasty' Attack on the Fed

Conservative editors accuse the White House of 'weaponizing the housing regulator'

(Newser) - The conservative editorial page of the Wall Street Journal is not a fan of the Trump administration's latest effort to change the makeup of the Federal Reserve. On Wednesday, the head of President Trump's housing regulatory agency accused Lisa Cook, one of the central bank's governors, of...

Trump Says Fed Governor 'Must Resign'
Fed Governor
Rejects Call by
Trump to Quit
updated
Aug 20, 2025 5:52 PM CDT

Fed Governor Rejects Call by Trump to Quit

Federal Housing Finance Agency chief accused Lisa Cook of mortgage fraud

(Newser) - President Trump is calling for the resignation of a governor of the Federal Reserve after the director of the Federal Housing Finance Agency accused her of mortgage fraud. "Cook must resign, now!!!" Trump posted Wednesday on Truth Social , referencing a Bloomberg story about Fed governor Lisa Cook. Late...

Trump Threatens 'Major Lawsuit' Against Powell

President says Fed chair has done a 'horrible, and grossly incompetent, job' with renovation

(Newser) - President Trump is weighing a lawsuit against Federal Reserve Chair Jerome Powell over the Fed's costly renovation project, a move that would escalate a long-simmering feud. Trump floated the idea on Truth Social , saying he was "considering allowing a major lawsuit against Powell to proceed because of...

Low-Wage Workers No Longer Getting Big Raises

A pandemic trend appears to have run its course

(Newser) - The surge in wage gains for America's lowest-paid workers that defined the pandemic era appears to be running out of steam, reports the Wall Street Journal . The story uses stats from the latest jobs report to illustrate the trend:
  • Average earnings for leisure and hospitality workers—among the
...

Trump Picks Stephen Miran for Unfinished Fed Term

Selection will give president a reliable ally in Adriana Kugler's place

(Newser) - President Trump announced Thursday that he'll nominate Stephen Miran, chair of his Council of Economic Advisers, to serve out an unfinished term on the Federal Reserve Board. If the Senate confirms him, Miran—a critic of Fed Chair Jerome H. Powell and unbending supporter of Trump's policies—would...

Trump Rules Out One Name to Replace Jerome Powell

Scott Bessent will be staying put at Treasury

(Newser) - It's been abundantly clear for some time that President Trump would like someone other than Jerome Powell in the Fed chair's, well, chair. But that person will not be Treasury Secretary Scott Bessent, reports Politico , and the decision was mutual. "I love Scott, but he wants to...

Trump Has an Unexpected Fed Governor Slot to Fill

Kugler's resignation gives him a chance to install his chosen successor to Powell early

(Newser) - Federal Reserve governor Adriana Kugler announced that she will step down next Friday, opening up a spot on the central bank's powerful seven-member board that President Trump will be able to fill. Kugler, who did not participate in the Fed's policy meeting earlier this week, would have completed...

Trump Wants Fed Board to Yank Control From Powell

And 'do what everyone knows has to be done!'

(Newser) - President Trump on Friday called for the Federal Reserve's board of governors to usurp the power of Fed Chair Jerome Powell, again criticizing the head of the US central bank for not cutting short-term interest rates . The Fed chair has been subjected to vicious verbal attacks by the Republican...

Trump Unloads on Powell After New Fed Move

He blasts central bank chief as 'too stupid,' 'too political' after rates were held steady

(Newser) - Maybe President Trump is hoping Jerome Powell will resign in the face of mounting insults, because that's what he keeps throwing at the Federal Reserve chair he badly wants out , even more so after the Fed chose to hold interest rates steady on Wednesday. "Jerome 'Too Late'...

This Fed Decision Was Unlike Any Other in Decades

Rate is unchanged, but for the first time in 30 years, there was more than one dissenter

(Newser) - Today marked the end of a decades-long era of relative harmony at the Federal Reserve. The central bank left its key interest rate steady at around 4.3% for the fifth time this year, but two of its seven governors opposed the decision, the AP reports. This is the first...

Trump, Powell Have 'Stunning' Clash Over Fed Renovation Costs

Trump questions Fed spending during rare visit to headquarters

(Newser) - President Trump and Federal Reserve Chair Jerome Powell clashed publicly over the ballooning costs of the Fed's headquarters renovation during a rare presidential visit to the central bank Thursday, even as Trump backed away from earlier hints he may fire Powell, CNBC reports. Trump claimed the construction expenses...

Get Ready, Powell: Trump Heads to Federal Reserve

It's the first presidential trip to central bank in nearly 20 years

(Newser) - President Trump is set to make an unusual visit to the Federal Reserve on Thursday, according to the White House, marking the first official presidential trip to the central bank in almost 20 years, per CNBC . The move stands out as a bold gesture in the ongoing dispute between...

Report: Trump Pulls Out Prop While Discussing Powell

Sources say he showed off draft of letter firing the Fed chair

(Newser) - President Trump reportedly engaged in a bit of show-and-tell with roughly a dozen House Republicans during an Oval Office meeting Tuesday night, with sources telling the New York Times the president displayed a draft of a letter to fire Federal Reserve Chair Jerome Powell. The session's ostensible focus...

Could a Building Renovation Sink Jerome Powell?

The Trump administration is increasingly making the case

(Newser) - President Trump on Tuesday suggested he has finally found a way to achieve his goal of removing Federal Reserve Chair Jerome Powell . The president indicated that Powell's handling of an extensive renovation project on two Fed buildings in Washington could be grounds to take the unprecedented and possibly legally...

Jamie Dimon to Trump: Don't Mess With Powell

'The independence of the Fed is absolutely critical,' says JPMorgan CEO

(Newser) - Jamie Dimon is warning the Trump administration not to try to oust Fed chief Jerome Powell before his term expires next year.
  • "I think the independence of the Fed is absolutely critical," the CEO of JPMorgan told reporters in a conference call. "Playing around with the Fed
...

New Powell Move May Be Aimed at Warding Off Trump

Fed chief asks watchdog to review controversial HQ renovation, a source of White House criticism

(Newser) - Fed chief Jerome Powell appears to have made a move designed to ward off a new line of attack from President Trump. Axios and CNBC report that Powell has asked an independent watchdog to examine the ongoing renovation of the Fed's headquarters in Washington. The project's cost...

Fed Chief's Job May Be in Peril After All

Cost overruns on Fed's HQ renovations could give Trump a rationale for firing Powell

(Newser) - President Trump is not a fan of Federal Reserve Chair Jerome Powell , but the president insists that he won't fire him before his term ends next spring. However, a new White House investigation is fueling speculation that he may reconsider, reports Politico . The probe centers on the $2....

Trump Says Jerome Powell Should 'Resign Immediately'

President echoes call for Fed chair to be investigated

(Newser) - President Trump has once again called for Federal Reserve Chair Jerome Powell to step down, this time saying Powell should "resign immediately." The demand, made Wednesday on social media, marks an escalation after Trump's earlier suggestions that Powell leave the post, the New York Times reports....

Fed's Stress Test Shows Big Banks Can Take Recession
Biggest Banks Pass Stress Test
Jun 27, 2025 5:00 PM CDT

Biggest Banks Pass Stress Test

This year's was less rigorous, Fed concedes

(Newser) - The Federal Reserve's most recent stress test shows that the nation's largest banks could survive a major severe recession, though the test was significantly less rigorous than it has been. The regulatory exam was given to 22 banks with assets of more than $100 billion, Yahoo Finance reports,...

Trump Considers a Move to Undermine Fed Chief

President may announce his pick to replace Powell earlier than normal

(Newser) - President Trump is considering an early announcement of his pick to succeed Fed Chair Jerome Powell in a bid to undermine the man he calls "a very stupid person" for not cutting interest rates. Powell's term doesn't end until May. A replacement is usually announced three to...

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