Fed, White House and Powell
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Trump, federal reserve
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Russell Vought, director of the Office of Management and Budget, said Federal Reserve Chair Jerome Powell "has grossly mismanaged the Fed."
CNN political analyst Maggie Haberman tells CNN’s Kaitlan Collins why she doesn’t think President Donald Trump will fire Federal Reserve Chair Jerome Powell.
Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.
President Donald Trump on Tuesday said Chairman Jerome Powell to resign immediately, and renewed his calls for the central bank to lower interest rates.
Trump hopes to get lower rates by replacing Fed Chair Jerome Powell with someone who would do what the president wants. But Powell’s term as chair does not end until May 2026. He’s insisted he won’t resign early.
Fed officials are increasingly split on rate cuts, though UBS’s Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”
Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump’s tariffs effect the