Federal Reserve

Stories 1 - 20 |  Next >>

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...

Fed's Powell Sticks to His Warning on Tariffs

As Trump says he has replacements in mind

(Newser) - Federal Reserve Chair Jerome Powell said Wednesday that President Trump's sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties. On the second day of his twice-yearly testimony before the House and Senate, Powell said...

Within the Fed, a Split Emerges Over Rate Cuts

At least two members, Trump appointees, say it's time

(Newser) - As debate intensifies inside the Federal Reserve, a second top official has publicly called for interest rate cuts as early as next month. Michelle Bowman, the Fed's vice chair for supervision, said Monday that the time has come to consider lowering rates, as inflation is easing and signs...

Fed Official Calls for Renewed Rate Cuts

Waller says central bank shouldn't wait for labor market to slow down

(Newser) - Federal Reserve Governor Christopher Waller, considered a contender to replace Jerome Powell when the Fed chair's term expires next year, says that the central bank could be in a position to cut interest rates as soon as July. Waller, one of seven Fed governors, tells CNBC that inflation...

Fed Keeps Key Rate Steady Once Again

Decision came despite heavy pressure from Trump

(Newser) - As was expected—even by President Trump , who has been pushing hard for rate cuts—the Federal Reserve held its key interest rate steady on Wednesday. The central bank kept the rate in a range of 4.25% to 4.5%. It has been at the same rate since December,...

Trump: 'Stupid' Fed Chief Probably Won't Cut Rates

'He's a political guy who's not a smart person,' president says of Powell

(Newser) - The Federal Reserve is widely expected to keep its key interest rate steady today, and President Trump didn't wait for the announcement to attack Fed chair Jerome Powell. "So we have a stupid person. Frankly, you probably won't cut today," Trump told reporters outside the White...

Trump: Powell 'Must' Lower Interest Rates

President piles on the pressure following ADP report

(Newser) - President Trump demanded Federal Reserve Chairman Jerome Powell cut interest rates on Wednesday after payroll processing firm ADP reported its lowest private-sector jobs number since March 2023. Payrolls increased 37,000 in May, far below the Dow Jones forecast for 110,000, per CNBC . "'Too Late' Powell must...

Supreme Court Doesn't Halt Independent Agency Firings

Victory for Trump includes a caution about the Federal Reserve chair

(Newser) - The Supreme Court on Thursday declined to immediately reinstate the heads of two independent regulatory agencies removed by President Trump, saying the president may well have the authority to fire them. The decision, a temporary one in effect while the issue is considered by lower courts, sets the stage for...

Stories 1 - 20 |  Next >>
Most Read on Newser