Tag

Jerome Powell

All articles tagged with #jerome powell

politics21 days ago•3 min saved

Fed Accountability Push: Bessent Presses for Credibility Amid Inflation and Scrutiny

In a House Financial Services Committee hearing, Treasury Secretary Scott Bessent called for greater Federal Reserve accountability and said the central bank has lost public trust amid high inflation and the Fed’s costly headquarters renovation, while defending its independence. He declined to state whether the president can fire a Fed governor or chair, noted political and legal scrutiny surrounding Chair Jerome Powell and the Warsh nomination, and highlighted debates over how the Fed is funded and its influence on monetary policy.

via The New York Times|

#federal-reserve #house-financial-services-committee #inflation

politics21 days ago•11 min saved

Tim Scott: Powell Didn’t Commit a Crime in DOJ Fed Probe

Senate Banking Chair Tim Scott said he does not believe Fed Chair Jerome Powell committed a crime during last year’s congressional hearing on Fed HQ renovations, calling the incident a gross error in judgment rather than criminal as the DOJ subpoenas related to Powell’s remarks unfold. The live updates also report a Jan. 6 committee subpoena to T-Mobile, ongoing DHS funding talks with potential stopgap options, and leadership maneuvering around the Fed and related investigations.

via Politico|

#congressional-testimony #doj-probe #federal-reserve

economy22 days ago•40 min saved

Trump’s Fed gamble backfires as Powell lingers and Warsh stalls

Trump’s bid to reshape the Fed by nominating a dovish chair appears to backfire, with Powell potentially remaining as chair beyond May amid Democratic resistance to Kevin Warsh and ongoing investigations into Powell and Fed Governor Cook, while Stephen Miran resigns from his White House-linked role, signaling a tighter distance between the White House and the Fed and raising questions about the independence of monetary policy.

via Fortune|

#donald-trump #economy #fed

politics27 days ago•2 min saved

Tillis blocks Warsh Fed chair bid until Powell probe ends

Sen. Thom Tillis says he will oppose Kevin Warsh’s nomination to be Federal Reserve chair until the DOJ's criminal probe of current Chair Jerome Powell is fully resolved, risking a committee stalemate and likely blocking Warsh’s progression; Sen. Warren criticizes the move as Fed independence at stake amid broader political pressure over interest-rate decisions.

via CNBC|

#doj-investigation #fed #jerome-powell

business27 days ago•3 min saved

Trump taps ex-Fed official Kevin Warsh to chair the Fed, stirring independence debates

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.

via CNBC|

#business #fed-independence #federal-reserve

investing27 days ago•32 min saved

Powell dodges credibility question as gold and silver surge to records

Powell said the U.S. hasn’t lost credibility, pointing to anchored inflation expectations even as gold and silver hit record highs. He warned against reading asset-price moves as proof of credibility loss and stressed that longer-term inflation remains near the 2% target. Analysts Debate whether the metals signal a loss of trust or just speculative momentum, with running narratives around a “Sell America” dynamic and potential debasement shaping the outlook.

via Fortune|

#federal-reserve #gold #inflation

finance28 days ago•5 min saved

Powell Frames Lisa Cook Firing Case as a Defining Moment for Fed Governance

Fed Chair Jerome Powell says the Supreme Court case over President Trump’s bid to fire Fed Governor Lisa Cook could be the most consequential legal matter in the Fed’s history, underscoring the potential limits of presidential removal power and the governance of the central bank. He defended attending the oral arguments, cited Paul Volcker as a precedent, and warned against politicizing the Fed, while noting the ruling could set an important precedent about when a board member can be removed for cause; he also pushed back on administration pressure via subpoenas amid rate-cut discussions.

via Politico|

#central-bank-governance #federal-reserve #finance

business29 days ago•3 min saved

Powell and the Fed's Independence Put to the Test at Key Meeting

With President Trump pressuring the Fed and a new probe surrounding its chair, Jerome Powell, the central bank faces a pivotal two-day policy meeting expected to keep rates unchanged as it battles stubborn inflation, while political maneuvering around Powell’s future and the Fed’s independence adds to the market's unease.

via The New York Times|

#business #donald-trump #federal-reserve

courts-and-law1 month ago•22 min saved

Cook’s Supreme Court Case Could Shape Powell’s Future

The Washington Post frames the Supreme Court case over President Trump’s push to fire Fed governor Lisa Cook as a major legal issue, now intensified by news that Fed Chair Jerome Powell is under investigation, a combination that could affect the Court’s view of presidential power over the Fed and Powell’s political trajectory while potentially influencing monetary policy and inflation dynamics.

via The Washington Post|

#courts-and-law #federal-reserve-system #jerome-powell

business1 month ago•23 min saved

Trump hints Hassett could stay put, upending the Fed chair race

President Donald Trump suggested Kevin Hassett could remain as head of the National Economic Council, injecting uncertainty into the race to succeed Fed Chair Jerome Powell. Analysts say Warsh could gain momentum, with other candidates still in play, while political and legal developments—like a DOJ probe related to the Fed building—could affect Senate confirmations.

via The Washington Post|

#business #federal-reserve-system #jerome-powell

politics1 month ago•35 min saved

Kudlow urges Pirro to drop Powell probe; Powell isn’t a criminal

Fox Business host Larry Kudlow urged Jeanine Pirro to drop her criminal investigation of Fed Chair Jerome Powell, saying Powell isn’t a criminal and that the probe was premature; he softened his stance on Powell, noted White House distance from the probe, and suggested Pirro and Powell meet with the U.S. Attorney to drop the case, even hinting Powell may depart in May.

via Yahoo News Canada|

#fox-news #investigation #jeanine-pirro

politics1 month ago•45 min saved

White House Frustration Surges as Pirro Powell Probe

White House officials blame DC U.S. Attorney Jeanine Pirro for blindsiding them with a criminal probe into Fed Chair Jerome Powell, triggering a high-stakes damage-control push, Trump’s public pushback, and Republican skepticism, while Powell confirms subpoenas and the administration weighs how the inquiry could affect the timeline for a new Fed chair and cast doubt on the Fed’s independence.

via Yahoo|

#donald-trump #federal-reserve #jeanine-pirro

politics1 month ago•36 min saved

Pirro frames Powell probe as accountability test, insisting no one is above the law

DC U.S. Attorney Jeanine Pirro blasted Fed Chair Jerome Powell on Hannity, saying 'no one is above the law' as prosecutors open a probe into Powell’s congressional testimony about the Fed’s renovation project; Powell calls the move unprecedented and denies wrongdoing; no charges have been filed, and the case arrives as leaders at the Fed risk scrutiny amid presidential discussions of Powell’s replacement.

via Yahoo|

#congressional-testimony #federal-reserve #investigation

business1 month ago•2 min saved

Trump attacks Fed independence as Dimon defends Powell

President Trump claims the Fed is not independent and pushes for lower interest rates, drawing a response from Jamie Dimon who warns against undermining the central bank. Powell faces a DOJ probe over renovations to the Fed HQ, while Trump signals a replacement for Powell in the coming weeks. Bankers including Robin Vince stress that independence is essential, and Powell’s disclosures to lawmakers about the $2.5 billion renovation complicate the administration’s criticisms.

via The Guardian|

#business #federal-reserve #jamie-dimon

politics1 month ago•7 min saved

Trump frames Iran endgame as a win, touts economy and attacks Powell

In a CBS Evening News interview at a Ford plant, President Trump warned Iran of strong action if protesters are hung, saying the endgame in Iran is to 'win,' while touting a strong domestic economy, criticizing Fed Chair Jerome Powell as 'lousy' or 'corrupt or incompetent,' sending a message regarding Renee Good's death in Minneapolis, discussing robotics in auto manufacturing, and claiming his power is limited by his own morality (and the Constitution).

via CBS News|

#economy #iran #jerome-powell