Jerome Powell

Trump said during the search for a new chair that he wanted a candidate who would lower rates, and later said he would not have picked Warsh if he'd advocated for increasing rates

US President Donald Trump has nominated former Federal Reserve governor Kevin Warsh to lead the central bank after Jerome Powell steps down in May

Trump has openly sought to shape Fed's rate policy through his appointments in an effort to find someone broadly acceptable to markets who'll also share his inclination to cut rates further and faster

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 ..

Trump's shortlist includes National Economic Council Director Kevin Hassett, BlackRock executive Rick Rieder, current Fed Governor Christopher Waller and a former governor, Kevin Warsh

Trump has sharply criticized Jerome Powell, whose term as Fed chair ends in May, for not lowering interest rates fast enough

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

Powell has been threatened with a probe over congressional testimony he gave last summer about the renovation of the Fed's headquarters

The US Justice Department has opened a criminal investigation involving Federal Reserve Chair Jerome Powell, a move that has sparked fresh concerns over the independence of America’s central bank.

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 did not specify who is his leading chair candidate and said an announcement would be made in "January sometime"

The US Federal Reserve has cut interest rates for the third meeting in a row.

The Federal Reserve reduced its key interest rate by a quarter-point for the third time in a row on Wednesday but signalled that it may leave rates unchanged in the coming months. Chair Jerome Powell signalled at a news conference that the Fed would likely hold off on further rate cuts in the coming months while it evaluated the health of the economy. And in a set of quarterly economic projections, Fed officials signalled they expect to lower rates just once next year. Wednesday's cut reduced the rate to about 3.6 per cent, the lowest it has been in nearly three years. Lower rates from the Fed can bring down borrowing costs for mortgages, auto loans, and credit cards over time, though market forces can also affect those rates. Fed officials "will carefully evaluate the incoming data," Powell said, adding that the Fed is "well positioned to wait to see how the economy evolves." The chair also said that the Fed's key rate was close to a level that neither restricts nor stimulates the

With most assets frozen in the Fed headlights, attention was grabbed by a sudden slide in the Japanese yen and the continued dizzy ascent of silver prices, which both hit record peaks

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

The president on Sunday told reporters he knew who he would nominate, without offering further details

Sensex Today | Stock Market close, Tuesday, December 02, 2025: In the broader markets, the Nifty MidCap index fell 0.22 per cent, while the Nifty SmallCap index fell 0.55 per cent

Trump has frequently excoriated current Fed chief Jerome Powell for failing to lower rates swiftly and signalled he wants a chair who will more forcefully pursue cuts

Gold prices are poised to remain firm and could edge closer to record highs next week as investors await key US data, Federal Reserve Chair Jerome Powell's speech and the Reserve Bank of India's policy decision, analysts said. "Gold moves out of the consolidation range as investors focus on the manufacturing and services PMI data from across regions, US jobs data, and consumer sentiments," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. "Adding to that would be Fed chair Jerome Powell's speech on Monday, developments over the Russia-Ukraine peace talks and RBI policy meeting on Friday, all of which will be closely monitored by traders," he added. On the Multi Commodity Exchange (MCX), gold futures for the February 2026 contract climbed by Rs 3,654, or 2.9 per cent, over the past week to close at Rs 1,29,504 per 10 grams on Friday. In the domestic markets, "rupee's weakness and local demand have been a significant contributor to ...