Federal Reserve

Why Powell chose a high-stakes path to stay at Fed after chair term ends

The question now is whether Powell's continued presence at the Fed will further inflame tensions between the administra- tion and the central bank

Powell plans to stay on at Fed after term, cites legal action by Trump team

Jerome Powell said he plans to remain on the board of the Federal Reserve after his term as chair ends next month "for an undetermined period of time," citing the "unprecedented" legal attacks against the central bank by the Trump administration. "I worry these attacks are battering this institution and putting at risk the things that really matter to the public," Powell said at a press conference after the Fed announced its decision to keep its benchmark interest rate steady. Powell's decision to stay denies President Donald Trump a chance to fill a seat on the central bank's seven-member governing board with his own appointee. The Senate Banking Committee earlier approved Powell's successor as chair, Trump appointee Kevin Warsh, on a party-line vote. Powell would continue as a Fed governor, possibly until January 2028. U.S. Attorney for the District of Columbia Jeanine Pirro said on X Friday that her office was ending its probe into the Fed's extensive building renovations because

Gold slips as oil prices fuel inflation fears ahead of Fed chair remarks

Gold slips as rising oil prices stoke inflation fears and rate outlook uncertainty, with markets eyeing Fed Chair Jerome Powell's cues on policy path

Federal Reserve expected to hold rates at Powell's likely last meeting

Wednesday will likely be a momentous day for the future of the Federal Reserve as Chair Jerome Powell could signal he will stay with the Fed even as a Senate panel is expected to confirm his replacement. Powell will preside over what will probably be his last meeting as chair and hold a news conference Wednesday afternoon, when he may say whether he will take the unusual step of remaining on the central bank's board of governors, even after his term as chair ends May 15. Separately, the Senate Banking Committee is scheduled to vote on the nomination of Kevin Warsh to succeed Powell. The nomination is expected to be approved on a party-line vote, and will then be taken up by the full Senate next month. President Donald Trump nominated Warsh, a former top Fed official, in January. Last year, Warsh echoed Trump's calls for the Fed to lower its key interest rate, leading many Democrats in Congress to question how independently he will operate as Fed chair. The Fed is widely expected to

Justice Dept to close probe of Fed Chair Jerome Powell: US Attorney Pirro

US Justice Department closes probe into Federal Reserve renovation cost overruns, asks Inspector General to review expenses under Chair Jerome Powell

US judge blocks subpoenas targeting Fed chair Powell; DOJ plans to appeal

US judge James Boasberg blocked subpoenas targeting Fed Chair Jerome Powell over HQ renovations, citing no evidence and an improper retaliatory motive

Explained: Is US immigration crackdown slowing job growth? | Trump | US news

A new San Francisco Federal Reserve study suggests the recent slowdown in unauthorised immigration to the United States is coinciding with weaker job growth

US companies paid nearly 90% of 2025 tariff costs, says NY Fed study

Using data through November 2025, the study finds that about 94 per cent of the tariff costs were passed through to US firms and consumers in the first eight months of the year

Americans shouldered bulk of Trump tariff burden, says NY Fed report

The bank said 90 per cent of the tariffs imposed by the president on imported goods are borne by American consumers and companies

Federal Reserve governor Stephen Miran steps down from White House post

Federal Reserve governor Stephen Miran has stepped down from his position as chair of the White House's Council of Economic Advisers, ending a controversial arrangement where he held positions at both institutions. His resignation was confirmed by White House spokesman Kush Desai late on Tuesday. President Donald Trump appointed Miran in September to a seat on the Fed's seven-member board of governors after Adriana Kugler, who was appointed by President Joe Biden, abruptly resigned. Miran completed her term, which ended January 31. Yet he can remain on the Fed's board until a replacement is confirmed by the Senate. It is unusual for someone to keep a White House position while also serving as a Fed governor, a nonpartisan position. Previous presidents have appointed aides to the Fed, but for decades they gave up their White House positions before joining the Fed. Miran took an unpaid leave of absence instead. Miran said when he was named in September that he would step down from hi

Warsh's return revives tensions over US Fed's $6.6 trn QE hangover

At the same time, Warsh could argue that by tightening financial conditions, a smaller balance sheet would grant his Fed room to cut its benchmark rate deeper

Crypto rout deepens as ETF outflows, geopolitical tensions rattle investors

Until macro stability returns and ETF inflows resume, crypto markets, analysts believe, are likely to remain defensive

Why Trump's new pick for US Fed chair hit gold and silver markets

After months of record highs and stretched valuations, spot prices for gold and silver dropped 9 per cent and 28 per cent respectively after the announcement

A red-hot US economy under Donald Trump may not cool the way he hopes

Trump's high-growth push - fuelled by stimulus, deregulation and rate cuts - may heat up the US economy but risks persistent inflation and financial instability

Who is Kevin Warsh, Trump's pick to succeed Powell as Fed chair?

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 admin likely to back Kevin Warsh for next Federal Reserve chair

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

Navigating global turmoil: Can India stay the course on policy and growth?

Despite geopolitical risks and inflation worries, experts say resilient growth, likely US rate cuts, and stable Indian fundamentals will shape markets in the year ahead

Fed likely to keep rates unchanged as chief Powell pivots back to economics

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 ..

Supreme Court signals limits on Trump's power over Federal Reserve

The Supreme Court for the past year has repeatedly allowed President Donald Trump to fire heads of independent agencies, but it appears to be drawing a line with the Federal Reserve. The court has signaled for months that it sees the Fed in a different light. It has said that the president can fire directors of other agencies for any reason, but can remove Fed governors only "for cause," which is often interpreted to mean neglect of duty or malfeasance. Last year, the court allowed President Donald Trump to fire - at least temporarily - Gwynne Wilcox, a member of the National Labor Relations Board, and Cathy Harris, a member of the Merit Systems Protection Board, but it carved out a distinction for the Fed. The two officials had argued that if Trump could fire them, he could also fire members of the Fed's board of governors. "We disagree," the court said then. "The Federal Reserve is a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the

Nearly a year in, Trump uses regulatory force to try to lower inflation

To assuage cost-weary voters and combat inflation, the president has resorted to a mix of threats and punishments, targeting companies and policymakers alike