Federal Reserve Chair Jerome Powell signaled on Friday that the central bank could cut interest rates as early as September. Speaking at the Kansas City Fed’s annual Jackson Hole conference, Powell cited a shift in risks toward slowing job growth as the rationale for changing course.
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 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.
