Federal Reserve

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Trump Considers a Move to Undermine Fed Chief

President may announce his pick to replace Powell earlier than normal

(Newser) - President Trump is considering an early announcement of his pick to succeed Fed Chair Jerome Powell in a bid to undermine the man he calls "a very stupid person" for not cutting interest rates. Powell's term doesn't end until May. A replacement is usually announced three to...

Fed's Powell Sticks to His Warning on Tariffs

As Trump says he has replacements in mind

(Newser) - Federal Reserve Chair Jerome Powell said Wednesday that President Trump's sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties. On the second day of his twice-yearly testimony before the House and Senate, Powell said...

Within the Fed, a Split Emerges Over Rate Cuts

At least two members, Trump appointees, say it's time

(Newser) - As debate intensifies inside the Federal Reserve, a second top official has publicly called for interest rate cuts as early as next month. Michelle Bowman, the Fed's vice chair for supervision, said Monday that the time has come to consider lowering rates, as inflation is easing and signs...

Fed Official Calls for Renewed Rate Cuts

Waller says central bank shouldn't wait for labor market to slow down

(Newser) - Federal Reserve Governor Christopher Waller, considered a contender to replace Jerome Powell when the Fed chair's term expires next year, says that the central bank could be in a position to cut interest rates as soon as July. Waller, one of seven Fed governors, tells CNBC that inflation...

Fed Keeps Key Rate Steady Once Again

Decision came despite heavy pressure from Trump

(Newser) - As was expected—even by President Trump , who has been pushing hard for rate cuts—the Federal Reserve held its key interest rate steady on Wednesday. The central bank kept the rate in a range of 4.25% to 4.5%. It has been at the same rate since December,...

Trump: 'Stupid' Fed Chief Probably Won't Cut Rates

'He's a political guy who's not a smart person,' president says of Powell

(Newser) - The Federal Reserve is widely expected to keep its key interest rate steady today, and President Trump didn't wait for the announcement to attack Fed chair Jerome Powell. "So we have a stupid person. Frankly, you probably won't cut today," Trump told reporters outside the White...

Trump: Powell 'Must' Lower Interest Rates

President piles on the pressure following ADP report

(Newser) - President Trump demanded Federal Reserve Chairman Jerome Powell cut interest rates on Wednesday after payroll processing firm ADP reported its lowest private-sector jobs number since March 2023. Payrolls increased 37,000 in May, far below the Dow Jones forecast for 110,000, per CNBC . "'Too Late' Powell must...

Supreme Court Doesn't Halt Independent Agency Firings

Victory for Trump includes a caution about the Federal Reserve chair

(Newser) - The Supreme Court on Thursday declined to immediately reinstate the heads of two independent regulatory agencies removed by President Trump, saying the president may well have the authority to fire them. The decision, a temporary one in effect while the issue is considered by lower courts, sets the stage for...

Consumer Sentiment Near an All-Time Low

New index defies predictions that sentiment would rise in May

(Newser) - Americans appear to be growing more anxious about the economy, with consumer sentiment dropping for the fifth straight month to reach a three-year low. Details:
  • A closely watched index out of the University of Michigan fell to 50.8 in May, down roughly 3% from April's 52.2.
...

After Fed Move, Trump Slams 'Fool' Powell

President rails against decision not to cut interest rates

(Newser) - The Federal Reserve did not cut interest rates on Wednesday as President Trump wished, and Trump vented on Truth Social early Thursday about the head of the central bank:
  • "'Too Late'" Jerome Powell is a FOOL, who doesn't have a clue," Trump wrote . "Other
...

Fed Holds Key Rate Steady Despite Pressure From Trump

Central bank cites risk of higher inflation

(Newser) - In a move that was widely expected—but is likely to draw more criticism from President Trump—the Federal Reserve held its key interest rate steady on Wednesday. The central bank kept the rate in a range of 4.25% to 4.5%, where it has been since December. The...

Trump: 'I Have No Intention' of Firing Fed Chief

But he would like Powell to 'be a little more active in terms of his idea to lower interest rates'

(Newser) - Federal Reserve chief Jerome Powell's "termination cannot come fast enough," President Trump declared last Thursday , rattling stock markets—but on Tuesday, he said he had no plans to try to fire him. Asked by a reporter in the Oval Office if he intended to fire Powell, Trump...

IMF Warning: Tariffs Have 'Reset' the World Economy

Group forecasts slower growth in the US and around the globe

(Newser) - President Trump won't be a fan of a new warning issued Tuesday by the International Monetary Fund. The organization predicted that Trump's tariffs will slow economic growth around the world.
  • In its updated World Economic Outlook, the IMF revised global economic growth down to 2.8% for
...

This Might Be the Dow's Worst April Since the Depression

Investors rattled by threats to Fed's independence on top of tariffs

(Newser) - The Wall Street Journal reports that Wall Street is on track for two very much unwanted milestones that reach back to the Great Depression:
  • The Dow, which lost about 1,000 points on Monday, might chalk up its worst April since 1932. The index began April at about 42,000,
...

Markets Slide as Trump Renews Attacks on Powell
Trump Goes After Powell
Again, and Markets Slide
MARKETS
Apr 21, 2025 10:17 AM CDT

Trump Goes After Powell Again, and Markets Slide

Dow falls more than 900 points on Monday morning

(Newser) - The stock market is off to a miserable start in the new week, and a new blast from President Trump directed at Fed chief Jerome Powell appears to be a factor, reports CNBC .
  • The Dow was down more than 930 points, or 2.3% after 11am. The benchmark S&P
...

Trump May Be Preparing Push to Fire Fed Chief

Sources tell WSJ he has been discussing removing Jerome Powell for months

(Newser) - President Trump's remark Thursday that Jerome Powell's "termination cannot come fast enough" came after months of private discussions about firing the Federal Reserve chief, sources tell the Wall Street Journal . The sources say Trump, in private meetings at Mar-a-Lago, has talked about replacing Powell with former Fed...

Trump: Powell's Termination Can't 'Come Fast Enough'

President demands Fed chief cut rates immediately

(Newser) - Fed chief Jerome Powell rattled the markets on Wednesday with a warning about President Trump's tariffs . On Thursday, Trump for the first time directly called for Powell's firing, reports CNBC .
  • "Powell's termination cannot come fast enough!" Trump wrote on Truth Social. As he has done
...

Fed Chief Cites Ferris Bueller in Remarks on Interest Rates

'Life moves pretty fast,' but Fed is 'well positioned to wait for greater clarity,' Powell says

(Newser) - The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday. "As that great Chicagoan Ferris Bueller once noted, 'Life moves pretty fast,'"...

Trump to Powell: Cut Rates. Powell: Nope, Not Yet

Fed chief warns that tariffs will likely lead to at least a temporary uptick in inflation

(Newser) - Fed chief Jerome Powell weighed in on the tariffs of President Trump on Friday, saying that the central bank is worried about their effect on inflation but isn't ready to make a move on interest rates.
  • "We are well positioned to wait for greater clarity before considering any
...

Federal Reserve Holds Key Rate Steady

Central bank still expects 2 rate cuts this year

(Newser) - The Federal Reserve did exactly what Wall Street expected it to do on Wednesday: nothing. For the second meeting in a row—its second since President Trump began his second term—the central bank kept interest rates steady in a range of 4.25% to 4.5%, reports the New ...

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