Donald Trump, Federal Reserve and Powell
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New data from the White House Council of Economic Advisers backs President Donald Trump's calls for the Federal Reserve to cut interest rates.
The Fed had initially offered an after-hours visit scheduled for Friday evening, which the White House rejected.
The president has accused Powell of being political and nicknamed him "too late" when it came time to adjusting interest rates.
We are thinking about no tax on capital gains on houses,” Trump said during an Oval Office meeting with the president of the Philippines.
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.
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