Jerome Powell

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Trump: 'I Have No Intention' of Firing Fed Chief

But he would like Powell to 'be a little more active in terms of his idea to lower interest rates'

(Newser) - Federal Reserve chief Jerome Powell's "termination cannot come fast enough," President Trump declared last Thursday , rattling stock markets—but on Tuesday, he said he had no plans to try to fire him. Asked by a reporter in the Oval Office if he intended to fire Powell, Trump...

This Might Be the Dow's Worst April Since the Depression

Investors rattled by threats to Fed's independence on top of tariffs

(Newser) - The Wall Street Journal reports that Wall Street is on track for two very much unwanted milestones that reach back to the Great Depression:
  • The Dow, which lost about 1,000 points on Monday, might chalk up its worst April since 1932. The index began April at about 42,000,
...

Markets Slide as Trump Renews Attacks on Powell
Trump Goes After Powell
Again, and Markets Slide
MARKETS
Apr 21, 2025 10:17 AM CDT

Trump Goes After Powell Again, and Markets Slide

Dow falls more than 900 points on Monday morning

(Newser) - The stock market is off to a miserable start in the new week, and a new blast from President Trump directed at Fed chief Jerome Powell appears to be a factor, reports CNBC .
  • The Dow was down more than 930 points, or 2.3% after 11am. The benchmark S&P
...

Trump May Be Preparing Push to Fire Fed Chief

Sources tell WSJ he has been discussing removing Jerome Powell for months

(Newser) - President Trump's remark Thursday that Jerome Powell's "termination cannot come fast enough" came after months of private discussions about firing the Federal Reserve chief, sources tell the Wall Street Journal . The sources say Trump, in private meetings at Mar-a-Lago, has talked about replacing Powell with former Fed...

Trump: Powell's Termination Can't 'Come Fast Enough'

President demands Fed chief cut rates immediately

(Newser) - Fed chief Jerome Powell rattled the markets on Wednesday with a warning about President Trump's tariffs . On Thursday, Trump for the first time directly called for Powell's firing, reports CNBC .
  • "Powell's termination cannot come fast enough!" Trump wrote on Truth Social. As he has done
...

Fed Chief Cites Ferris Bueller in Remarks on Interest Rates

'Life moves pretty fast,' but Fed is 'well positioned to wait for greater clarity,' Powell says

(Newser) - The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday. "As that great Chicagoan Ferris Bueller once noted, 'Life moves pretty fast,'"...

Trump to Powell: Cut Rates. Powell: Nope, Not Yet

Fed chief warns that tariffs will likely lead to at least a temporary uptick in inflation

(Newser) - Fed chief Jerome Powell weighed in on the tariffs of President Trump on Friday, saying that the central bank is worried about their effect on inflation but isn't ready to make a move on interest rates.
  • "We are well positioned to wait for greater clarity before considering any
...

Federal Reserve Holds Key Rate Steady

Central bank still expects 2 rate cuts this year

(Newser) - The Federal Reserve did exactly what Wall Street expected it to do on Wednesday: nothing. For the second meeting in a row—its second since President Trump began his second term—the central bank kept interest rates steady in a range of 4.25% to 4.5%, reports the New ...

Shortlist for Time's Person of the Year Is Out

3 presidential candidates in the US and Mexico, including the 2 victors, make the cut

(Newser) - The year of 2024 was enough to make heads nod, shake, and spin. Time is out with the shortlist of the 10 people around the globe who induced the most of that, and they include some very familiar faces and past winners, along with a few newcomers. In alphabetical order:...

Powell: If Trump Asks Me to Resign, I'll Say No

Fed chair says election will have no near term effect on interest rate decisions

(Newser) - The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump's presidential election victory this week. In a statement after its latest meeting ended, the Fed said the "...

How Will Fed's 'Great News for the Middle Class' Affect You?

Unusually hefty half-point rate cut will mean possible relief on car loans, mortgages, credit cards

(Newser) - Borrowing over the past couple of years has been a painful prospect for Americans, as high interest rates meant to curb inflation kept consumer payments steep. Now, after the Federal Reserve made its unusually large half-point cut on Wednesday, leading to a key interest rate of between 4.75% and...

Fed Chair Says Big Rate Cut Is 'Timely'

Some critics think central bank 'jumped the gun' with half-point cut

(Newser) - "We know that it is time to recalibrate our policy to something that's more appropriate given the progress on inflation," Federal Reserve Chair Jerome Powell said at a news conference Wednesday after the central bank cut its benchmark interest rate by an unusually large half-point. The move...

The Financial Question Driving Wednesday: How Big?

Whether the Fed will go with a 0.25% or 0.5% cut remains to be seen

(Newser) - Wednesday marks a long-awaited day: the Fed's first rate cut since the COVID pandemic began will likely be announced at 2pm ET. But while there is near-certainty a cut is coming to the current key interest rate of 5.3%, the size of the cut remains murkier.
  • CNN notes
...

Jerome Powell Has a Very Big Week
Jerome Powell
Has a Very
Big Week
Sep 17, 2024 9:19 AM CDT

Jerome Powell Has a Very Big Week

Fed is expected to cut rates for the first time in 4 years, but by how much?

(Newser) - The Federal Reserve begins a highly anticipated two-day meeting on Tuesday in which the central bank is expected to cut interest rates for the first time in four years. The big question is whether the cut to its benchmark rate—currently between 5.25% and 5.5%—will be one...

Fed Chief: 'The Time Has Come for Policy to Adjust'

Jerome Powell hints a rate cut is coming soon in a closely watched speech

(Newser) - The Fed chief gave a highly anticipated speech on Friday and delivered words Wall Street very much wanted to hear: "The time has come for policy to adjust." Translation: The Federal Reserve plans to cut interest rates at its September meeting, reports the Wall Street Journal . While Powell...

July's Inflation Number Could Pave the Way for a Rate Cut

Prices rose 2.9% year over year, the lowest since March 2021

(Newser) - Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday's report from the Labor Department showed that consumer prices...

Powell: Rate Cut Decision Will Be 'Apolitical'

Fed chairman says September cut 'could be on the table' if conditions are met

(Newser) - Federal Reserve Chairman Jerome Powell said Wednesday that the central bank could cut its key interest rate in September—and he stressed the November election will not affect the timing of cuts.
  • Powell, speaking to reporters after the Fed left the rate unchanged at its highest level in 23 years,
...

New Inflation Numbers Signal an End to the Worst

Fed's favored inflation gauge remains low, signaling that it could cut interest rates in the fall

(Newser) - The Federal Reserve's favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates this fall. Prices rose just 0.1% from May to June, the Commerce Department said Friday, up from the...

Inflation Finally Moved in the Right Direction in April

Year-over-year inflation ticked down to 3.4%

(Newser) - Consumer inflation in the US cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve but not bringing things to a level that would indicate a rate cut is nigh, reports the AP . Prices rose 0.3% from March...

Jerome Powell Asks Americans to Be Patient

Fed chair indicates central bank is still on track to cut interest rates this year, though

(Newser) - In an appearance on 60 Minutes Sunday, Jerome Powell said the Federal Reserve is still on track to cut interest rates three times in 2024. The Fed chair acknowledged that as the central bank has raised its benchmark rate 11 times since 2022 to fight inflation, Americans looking to buy...

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