All articles tagged with #federal reserve independence
Sen. Thom Tillis says he will oppose confirming any Trump‑backed nominees to the Federal Reserve, including a new chair, after reports that the DOJ is investigating Jerome Powell for potential perjury. The stance risks a confirmation stalemate as Powell’s chair term ends in May (he could remain as governor through 2028); the White House continues to vet candidates, while critics argue the move would threaten the Fed’s independence.
The Supreme Court has allowed Federal Reserve governor Lisa Cook to remain in her position until at least January while a legal case over whether President Trump can fire her is heard, highlighting issues of central bank independence and presidential authority.
President Trump initially considered firing Federal Reserve Chair Jerome Powell after asking GOP lawmakers for their opinion, but he later denied plans to do so, amid political pressure and concerns about the impact on market confidence and the Fed's independence.