Fed, Bessent and Treasury Secretary
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Trump, Jerome Powell and Scott Bessent
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J.P. Morgan warned in a note that Trump's pressure on the Federal Reserve and threats to fire Chair Powell could undercut central bank independence and increase inflation risks.
Treasury Secretary Scott Bessent said Monday he believes the Federal Reserve system should be reviewed for potentially holding back the US economy, which is “on the cusp” of growth that could equal the dot-com boom seen in the 1990s.
Trump urged Senate Majority Leader John Thune to cancel the August congressional recess to allow for the confirmation of his nominees.
Economist Peter Schiff is calling out President Donald Trump’s blatant hypocrisy on the Federal Reserve’s interest rate policy, saying that his demands and behaviors mirror what he had himself condemned in the past.
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.
President Donald Trump accused the Federal Reserve under Chairman Jerome Powell of "choking out the housing market" in his latest attack on the central bank's decision-making.
The Bureau of Labor Statistics on Tuesday released June inflation data, showing prices increased from the prior month. Hours later, President Trump called on the Fed to lower rates.
Trump wants to replace Jerome Powell with a Fed chair who will do what he wants. But that still may not produce the steep cuts Wall Street is counting on.