Tag Archives: Federal Reserve

The U.S. Supreme Court on Monday issued a pair of landmark rulings that delivered both a victory and a setback for President Donald Trump, preserving Federal Reserve Governor Lisa Cook’s job for now while dramatically expanding presidential authority over most independent federal agencies. In two decisions authored by Chief Justice …

The Senate voted Wednesday to confirm Kevin Warsh as chairman of the Federal Reserve, handing President Donald Trump a significant victory after months of clashes with outgoing Fed Chair Jerome Powell over interest rates and the central bank’s independence. The Senate approved Warsh in a 54-45 vote, with Sen. John …

The Department of Justice dropped its investigation Friday of the Federal Reserve and Chair Jerome Powell over building renovation costs, a move that could open the door for new Fed leadership next month — and signaled a victory for North Carolina Sen. Thom Tillis. U.S. Attorney Jeanine Pirro said her …

A federal judge has halted a U.S. Department of Justice criminal investigation into Jerome Powell, finding the probe appeared to be part of an improper effort by the administration of Donald Trump to pressure the Federal Reserve to lower interest rates more aggressively. In a newly unsealed opinion, James Boasberg, …

President Donald Trump’s top economic adviser on Wednesday urged punishment for Federal Reserve economists after a new study concluded that U.S. companies and consumers are paying for nearly all of the tariffs imposed by the White House last year. “The paper is an embarrassment,” Kevin Hassett, director of the White …

President Donald Trump announced Friday that he plans to nominate former Federal Reserve governor Kevin Warsh to return to the central bank’s board and succeed Jerome Powell as chair of the Federal Reserve, a move likely to ignite a bruising Senate confirmation battle and intensify concerns over political pressure on …

Federal Reserve Chair Jerome Powell said Sunday that the Justice Department subpoenaed the central bank late last week and threatened a criminal indictment, escalating what he described as a sustained pressure campaign by the Trump administration to influence monetary policy. Powell said the subpoena, issued Friday, relates to his June …

The Federal Reserve lowered its benchmark interest rate for the third consecutive meeting on Wednesday but signaled it may hold rates steady in the months ahead, a shift that could invite criticism from President Donald Trump as he presses for deeper cuts. The central bank’s rate-setting committee reduced its key …

The Federal Reserve delivered its first interest rate cut of the year on Wednesday, signaling that mounting concerns about a slowing labor market now outweigh the risks of rising inflation. Policymakers reduced the central bank’s benchmark rate by a quarter percentage point, setting it at 4% to 4.25%. The move …

The Senate on Monday narrowly confirmed economist Stephen Miran, a top adviser to President Donald Trump, to the Federal Reserve’s Board of Governors, handing the president fresh influence over the central bank just as it prepares for a pivotal decision on interest rates. The 48-47 vote filled the vacancy left …

A panel of federal appeals court judges on Monday blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, hours before she and other top central bank officials were set to begin a closely watched meeting on interest rates. The ruling, issued by two of the three judges on …

Federal Reserve Governor Lisa Cook will challenge her removal, her attorney said Tuesday, arguing President Donald Trump “has no authority” to fire her. Trump announced late Monday that he would fire Cook, the first Black woman to serve on the Federal Reserve Board, over allegations that she falsified documents to …

President Donald Trump said late Monday he has removed Federal Reserve Governor Lisa Cook from her position, a move that immediately triggered questions about the independence of the nation’s central bank and is expected to spark a court fight. In a letter posted to Truth Social, Trump wrote: “Pursuant to …

The Federal Reserve on Wednesday opted to leave its benchmark interest rate unchanged, defying persistent pressure from President Donald Trump and signaling renewed concern about inflation and economic uncertainty driven by tariffs. In a statement following its July policy meeting, the Fed said that while economic growth had moderated, inflation …

In a rare presidential visit to the Federal Reserve on Thursday, President Donald Trump publicly criticized the cost of the central bank’s ongoing renovations, calling the estimated $3.1 billion price tag “exorbitant” while donning a hard hat amid ongoing construction. The event highlighted Trump’s continued pressure on Fed Chair Jerome …