Fed Reserve Chair Jeremy Powell

Trump wants lower borrowing costs in particular to boost the housing sector as a way to address broader concerns about affordability that could be central to midterm elections

Investors will monitor comments from Fed officials at public events in the coming week to gauge their appetite for a September rate cut

The team chosen by Trump has been reviewing several contenders, including a former Fed president and a longtime economic consultant

After firing Bureau of Labour Statistics chief McEntarfer over weak jobs data and criticising Fed chair Powell, Trump signals new key appointments

Forecasters anticipate the heavy dose of data will show economic activity rebounded in the second quarter, largely due to a sharp narrowing of the trade deficit, while job growth moderated in July

Trump escalates pressure on the Fed with a high-profile visit, signals retreat from firing Powell while pushing for rate cuts, using his trademark 'flood-the-zone' strategy

President Donald Trump rattled off a number to shame Federal Reserve Chair Jerome Powell about the renovation costs of the Fed's headquarters and America's central banker dared to correct him. Live on video. The exchange occurred Thursday in the plywood-sheathed headquarters of the Fed that are still under construction. Both men wore white hard hats and dark suits. Trump spoke with utter certainty, while Powell skeptically cocked his eyebrows. Trump claimed the renovation project was over budget at a $3.1 billion price tag, while Powell pushed back and said the president was including an extra building that had been renovated five years ago. The Fed has maintained that renovation costs are $2.5 billion, an increase from $1.9 billion. It looks like it's about $3.1 billion, went up a little bit or a lot, said Trump. Powell shook his head in disagreement. I'm not aware of that, Mr. President, he responded. It just came out, said Trump, pulling a folded piece of paper from his suit .

Trump's repeated criticism of Powell and talk of firing him has rattled markets, raising concerns over central bank independence-a cornerstone of the global financial system

US President Donald Trump has consistently criticised Powell for failing to lower interest rates and has often raised the prospect of removing him, while acknowledging that such a move is 'unlikely'

President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank's headquarters. The latest step came Thursday when Russ Vought, Trump's top budget adviser, sent a letter to Federal Reserve Chairman Jerome Powell saying the president is extremely troubled that plans may have violated government building rules with an ostentatious overhaul. Trump also named two close aides to an obscure commission who plan to review the Federal Reserve building plans another avenue to increase scrutiny on Powell, whose eight-year term formally ends next May. This follows a near-daily drumbeat of criticism that Trump has leveled at Powell, whom he has disparaged as a very stupid person who should resign immediately. It's an unprecedented attempt to reshape the Federal Reserve's traditional role as an autonomous arbiter of US monetary policy. If successful in getting

Traders are viewing the news as a signal that early rate cuts are becoming more likely, given Trump has repeatedly called on Powell to lower borrowing costs

Sensex Today | Stock Market close, Wednesday, June 25, 2025: The Nifty MidCap index and the Nifty SmallCap index added 0.44 per cent and 1.5 per cent, respectively

The Fed for now has said it would stay on the sidelines, with interest rates held steady in the current 4.25% to 4.5% range until those questions get resolved

With their eye on inflation, officials are inclined to hold rates steady when they meet in Washington on Tuesday and Wednesday

Trump, in a post on his social media platform Truth Social, reiterated his stance on rate cuts, saying that Powell should have lowered interest rates

Fed Chair Jerome Powell warns Trump's tariffs could fuel inflation and slow growth, adding uncertainty to markets as Wall Street reels from sharp declines in major indexes

Import prices dipped 0.1% last month after a downwardly revised 0.2% gain in February, the Labor Department's Bureau of Labor Statistics said on Tuesday

The Federal Reserve is prepared to keep its key interest rate unchanged for now as inflation remains elevated and the job market is solid, Chair Jerome Powell said Tuesday on the first day of a two-day appearance before Congress. After cutting its key rate a full percentage point in the final three months of last year, with the economy remaining strong, we do not need to be in a hurry to adjust our policy stance, Powell said in written remarks to the Senate Banking Committee. Powell's appearance comes as inflation is still above the Fed's 2 per cent target and the Trump administration is upending many long-time US policies by imposing tariffs on steel and aluminum and seeking to sharply cut government spending. President Donald Trump has also frequently attacked the Fed in the past, raising concerns about the Fed's historic independence from politics. Powell did not mention those policy changes in his statement, but said that the Fed's interest rate is well positioned to deal with

Trump, who frequently criticized Powell and the Fed during his first term, again is testing those limits, saying last week that he'll "demand" immediate interest-rate cuts

"If the economy evolves broadly as expected, policy will move over time toward a more neutral stance," Powell said