Fed Reserve Chair Jeremy Powell

After two weeks of intense political and legal scrutiny, the Federal Reserve will seek to make this week's meeting about interest rates as straightforward and uneventful as possible, though President Donald Trump probably still won't like the result. The central bank's interest rate-setting committee is almost certain to keep its key short-term rate unchanged at about 3.6 per cent, after three straight quarter-point cuts last year. Fed Chair Jerome Powell said after December's meeting that they were "well positioned to wait to see how the economy evolves" before making any further moves. When the Fed lowers its short-term rate, it can over time influence other borrowing costs for things like mortgages, auto loans and business borrowing, though those rates are also affected by market forces. This week's meeting - one of eight the Fed holds each year - will be overshadowed by the bombshell revelation earlier this month that the Justice Department has subpoenaed the Fed as part of a ..

The Trump administration has opened a criminal investigation into Jerome Powell over cost overruns linked to a $2.5 bn project to renovate two historic buildings at the Federal Reserve's headquarters

Some of Trump's allies were alarmed by the move, fearing a legal fight aimed at Fed Chair Jerome Powell will upset the bond market, some of the people said

In a statement released Sunday evening, Powell rejected the notion that the action was driven by his testimony or the renovation

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