President Donald Trump has warned Federal Reserve Chair Jerome Powell that he may face a "major lawsuit" if he continues renovations on federal buildings.
The Federal Reserve, America’s powerful central bank, has long been insulated from direct political interference — at least in theory. But the question of how much a president can influence the Fed’s leadership has bubbled up repeatedly in recent years, particularly during President Donald Trump’s first term when he publicly lambasted Fed Chair Jerome Powell for raising interest rates.
President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell on Monday, slamming the central bank for refusing to cut interest rates despite falling inflation. Trump accused Powell and the entire Federal Reserve Board of costing the U.S. economy “trillions” in unnecessary interest costs.
Federal Reserve Chairman Jerome Powell confirmed Tuesday that the central bank is officially removing “reputational risk” as a factor in banking supervision—an overdue victory for conservatives fighting against ideological discrimination in the financial system. Powell declared that “debanking” has become a “serious problem,” especially for industries and individuals targeted for their political or commercial associations.
