Fed, Trump
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Need to examine whether Fed
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If U.S. President Donald Trump's public attacks on Federal Reserve Chair Jerome Powell have achieved one thing, it has been to thrust the issue of central bank independence firmly into the spotlight.
Fed Reserve Chair Jerome Powell responded to the Trump administration's inquiry about its $2.5 billion headquarters renovation, addressing concerns about cost overruns and project details.
New economic data shows inflation ticked higher in June to 2.7%, prompting many economists to agree with Federal Reserve Chair Jerome Powell’s decision to keep interest rates steady. President Trump and his economic team launched fresh criticism of Powell over his approach.
Federal Reserve Chair Jerome Powell on Thursday said the agency’s renovation of its office complex in Washington complies with plans approved by a local commission, disputing a White House suggestion that they had violated the law by deviating from those plans.
It isn’t just the U.S. Other countries have also come to expect an independent U.S. central bank.
The Federal Reserve may already have the so-called shadow chairman that President Donald Trump has said he might soon appoint in a move that could be seen as part of a pressure campaign to lower interest rates and reduce government borrowing costs.
A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts.