US Edition
Republican senators caution Trump against firing Fed chair Jerome Powell
UNITED STATES, JUL 17 – Republican senators warn that firing Federal Reserve Chair Jerome Powell could undermine the Fed's independence and destabilize markets amid ongoing pressure from President Trump.
- President Donald Trump confirmed discussing the concept of firing Federal Reserve Chair Jerome Powell during a July 15 White House meeting with House Republicans about cryptocurrency legislation.
- Trump's sustained pressure arises from Powell's refusal to lower interest rates and allegations of mismanaging a $2.5 billion Fed renovation project, which Trump and allies cite as potential grounds for removal.
- Big-Bank CEOs and officials emphasize the Fed's independence as critical, warning that premature firing could cause adverse market reactions and undermine the central bank's credibility.
- Powell's firing would take effect immediately but could trigger a lawsuit likely resolved through federal courts and possibly the Supreme Court, with Powell possibly seeking an injunction to maintain his position.
- An early removal before Powell's term ends in May 2026 would challenge longstanding Fed independence and could result in slower economic growth, higher inflation, and increased market volatility.
173 Articles
173 Articles
“Don’t explain anything, never apologize.” The philosophy of Montagu Norman, governor of the Bank of England between 1920 and 1944, took those two ideas as essential in his course of commanding monetary policy. The current president of the Federal Reserve, Jerome Powell, seems to have taken the second part of the phrase to the letter: neither does he give in to Donald Trump’s pressure to lower interest rates—to which the grouchs add to a forthco…
Investment Firm CEO Says Trump Has ‘Unique Opportunity’ To Get New Fed Chair Earlier Than Expected
by Hailey Gomez at CDN - James Fishback, founder and CEO of the investment firm Azoria, said Friday on Fox News’ “The Ingraham Angle” that President Donald Trump has a “unique opportunity” to appoint a new chairman of the Federal Reserve sooner than “everyone expects.” Reports of Fed Chairman Jerome Powell potentially being replaced have circulated, with Trump’s top economic adviser … Click to read the rest HERE-> Investment Firm CEO Says Trump …
Powell put the Fed and taxpayers in the red
Despite losing $235 billion, Federal Reserve Chairman Jerome Powell somehow still has a job — for now. His mismanagement of the Fed has not only badly hamstrung monetary policy for years, but has stuck the taxpayer with a massive bill…
The majority of respondents in the latest Markets Pulse poll expect Jerome Powell to remain as president of the Federal Reserve until the end of his term.According to most of the 146 participants in the poll conducted between July 17 and 18, Powell will not leave his position at the Fed before 2026, when his term expires in May.This suggests that few investors believe that President Donald Trump—who has criticized interest rates almost daily in …
President Donald Trump’s attacks on Powell threaten the Fed’s independence. Here’s why it matters
WASHINGTON — President Donald Trump has opened up a new front in his attack on the Federal Reserve and its chair, Jerome Powell: He says the alledged mismanagement of a building renovation project could be grounds for firing Powell. Such an unprecedented step could send the financial markets into a tailspin and over time push up interest rates and weaken the U.S. economy. If investors start to worry the Fed is no longer independent, fewer may bu…
‘There Will Be Inflation, Mr. Speaker’: CNBC Hosts Warn Mike Johnson What Will Happen if Rates Are Cut in ‘Hot’ Economy
Speaker Mike Johnson (R-LA) was warned on Friday that his desire to see the Federal Reserve cut interest rates in what he called a “hot” economy would likely lead to an even hotter one marked by inflation. In recent months, President Donald Trump has urged Fed Chair Jerome Powell to cut interest rates. Powell has resisted those calls, drawing Trump’s ire and sparking rumors that the president may attempt to fire him. Whether Trump can do so with…
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