Trump and Powell bicker over Fed building renovations
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The Fed has held its benchmark interest rate between 4.25% and 4.5% this year, though officials have penciled in two cuts by year-end.
It was not a flattering moment for a president who routinely makes up figures but who is rarely fact-checked by his appointees on camera.
The president wanted to take Jerome Powell, the Fed chair, to task over the cost of renovations to the central bank’s headquarters, but Mr. Powell was having none of it.
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The Federal Reserve is meant to operate independently from politics in order to stay true to its congressionally mandated mission to maintain price stability and maximum employment. But President
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The U.S. dollar advanced on Friday, bolstered by solid economic data that suggested the Federal Reserve was justified in taking a patient approach to cutting interest rates, while tariff negotiations showed more clarity.
President Donald Trump’s unprecedented walk-through of the Federal Reserve’s now-controversial building renovation project with Jerome Powell ended with a sign of relief for the central bank chief who’s been under pressure for months to slash interest rates.
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The yearslong project to overhaul the U.S. central bank’s headquarters in Washington, D.C., has run into multiple hurdles, including higher-than-expected groundwater at the site.
The Federal Reserve said on Friday it was "grateful" for U.S. President Donald Trump's encouragement to complete a renovation of two buildings at its headquarters in Washington and that it "looked forward" to seeing the project through to completion.
The Senate on Thursday advanced the controversial nomination of Emil Bove, teeing up a final vote on his lifetime appointment to an appeals court. Bove, who is currently serving in the No. 3 role at the Justice Department, has been nominated by President Trump for a judgeship on the 3rd Circuit Court of Appeals. The…