The Federal Reserve voted on July 30 to keep its benchmark interest rate unchanged at 4.25% to 4.50%, marking the fifth consecutive meeting without a change.
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.
A renovation of the US central bank headquarters in Washington, D.C. is drawing outrage as Federal Reserve Chair Jerome Powell stands accused of misleading Congress about a $2.5 billion revamp at the Federal Reserve’s Washington headquarters.
President Donald Trump renewed his threat to fire Federal Reserve Chair Jerome Powell, escalating a standoff with the central bank over interest rates and economic policy. Speaking from the Oval Office Thursday, Trump criticized Powell for not cutting rates and declared, “If I want him out, he’ll be out of there real fast, believe me.”
U.S. stocks fell sharply on Wednesday, erasing earlier gains after the Federal Reserve announced a 25 basis point rate cut and projected a slower pace of rate reductions for next year.
All three major U.S. stock indexes closed at record highs on Wednesday, fueled by a strong rally in technology shares and encouraging comments from Federal Reserve Chair Jerome Powell. Salesforce’s positive earnings report and upbeat market sentiment contributed to the surge, while Powell’s remarks on the economy provided an additional boost.
Former President Donald Trump said over the weekend that he plans to make the United States the "crypto capital" and "bitcoin superpower of the world."
