All articles tagged with #fed independence
White House economic adviser Kevin Hassett apologized after initially demanding discipline for authors of a New York Fed study that found tariffs have burdened U.S. businesses and consumers more than the administration acknowledged, saying the Fed’s independence and academic freedom must be preserved even as he criticized the paper.
Neel Kashkari, head of the Minneapolis Fed, condemned White House adviser Kevin Hassett’s suggestion that New York Fed researchers be punished, calling it an effort to undermine the Fed’s independence. He cited DOJ subpoenas related to Fed headquarters as evidence of political pressure, stressed that the Fed must decide based on data, and highlighted the value of diverse research from all 12 regional banks in informing policy.
Sen. Elizabeth Warren is leading Democrats against Donald Trump’s pick for Fed chair, Kevin Warsh, arguing his past hawkish stance raising the prospect of political influence over policy would undermine the Fed’s independence. With Republicans in the Senate majority, her effort to delay or derail Warsh faces an uphill battle as the nomination moves forward amid broader tensions over inflation, Powell’s leadership, and political pressure on the central bank.
Former Trump official Gary Cohn says Kevin Warsh is highly qualified to head the Fed and would take the central bank back to its traditional norms, signaling possible rate cuts and balance-sheet reduction while stressing the Fed's independence amid political pressure and questions surrounding Powell.
President Trump named Kevin Warsh to replace Jerome Powell as Fed chair, ending months of turmoil and signaling a contentious clash over policy and independence. Warsh, a former Fed official, is seen as credible by markets but may resist Trump’s push for looser policy, while Powell could remain on the board. The nomination faces Senate opposition and ongoing concerns about Fed independence amid inflation still above target and a DOJ probe, with markets pricing in only modest rate cuts this year.
The Supreme Court signaled a likely narrow ruling on President Trump’s bid to remove Federal Reserve Governor Lisa Cook, potentially sending the case back to the lower courts for more fact-finding and avoiding a sweeping ruling on presidential removal powers or the definition of “for cause.” The court’s decision could come by June and may leave Judge Cobb’s injunction in place, with the broader questions postponed for another day.
The Supreme Court signaled skepticism about President Trump's attempt to fire Federal Reserve governor Lisa Cook, underscoring the Fed's independence and raising questions about presidential power over independent agencies; legal scholars warn that, even if the court pushes back, it may carve out exceptions for the Fed, with potential economic implications and renewed scrutiny of the unitary executive theory, with a decision expected by June.
The Supreme Court is weighing whether President Trump can fire Federal Reserve Governor Lisa Cook without judicial review, a case centered on what qualifies as ‘cause’ for removal and the potential impact on Fed independence and monetary policy, as Powell faces a separate probe and the court weighs the public interest in Cook remaining in office during litigation.
The Supreme Court is hearing President Trump's bid to remove Federal Reserve Governor Lisa Cook, a test of whether the president can fire Fed officials for ‘cause’ without a hearing and how independent the central bank remains as scrutiny surrounding Powell and Fed policy continues.
The Supreme Court will hear Donald Trump’s bid to fire Federal Reserve Governor Lisa Cook, a move blocked by a federal court; the case tests whether a president can dismiss a sitting Fed official and how independent the central bank remains from executive power amid ongoing debates over rates and governance.
Treasury Secretary Scott Bessent says President Trump may decide on the next Federal Reserve chair as early as next week, with four candidates remaining and Trump having spoken to all of them. He also called Powell's Supreme Court appearance a mistake and stressed Fed independence, while expressing optimism about a nascent productivity boom in the U.S.
Treasury Secretary Scott Bessent criticized Fed Chair Jerome Powell for attending Supreme Court arguments on the Fed's independence, calling the move a mistake that could politicize the central bank; he spoke at Davos and noted that he himself attended a tariff case.
Senate Republicans rally to Fed Chair Jerome Powell amid DOJ subpoenas tied to a $2.5 billion renovation, stressing Powell’s long history with Congress and his insistence that the Fed remain independent from political pressure.
Regional Fed presidents publicly rebuke Trump’s probes of Chair Powell, underscoring the Fed’s independence and Powell’s integrity while cautioning that political pressure could threaten inflation control and market confidence amid ongoing debates over rates and DOJ inquiries.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, defended Fed independence and Jerome Powell amid a Justice Department investigation and grand jury subpoenas, arguing that the Trump administration’s pressure on the Fed has been framed as a monetary-policy issue. He reiterated that policy decisions should be driven by the Fed’s mandate and said rates should be held steady this month.