A leadership shift at the US Fed amid political pressure and policy debates could test central bank independence and shape global financial stability
The meeting, held at the Treasury Department in Washington, was aimed at ensuring banks were aware of the risks posed by Mythos
As the Iran war enters its fifth week and US gasoline prices rise to around an average of $4 a gallon, the Fed faces a potential squeeze between its two mandates of full employment and price stability
Fed's next move may ultimately be a hike, a possibility Powell acknowledged came up again in discussions this week - though that's not the base case for the majority of policymakers
"I have no intention of leaving the board until the investigation is well and truly over, with transparency and finality," Powell said
US Attorney Jeanine Pirro vowed to appeal a ruling blocking subpoenas tied to Fed Chair Jerome Powell, despite fears a prolonged legal fight could delay confirmation of Kevin Warsh as Fed chief
US judge James Boasberg blocked subpoenas targeting Fed Chair Jerome Powell over HQ renovations, citing no evidence and an improper retaliatory motive
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.