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Investors feared that the uncertainty around a US government shutdown may also delay the release of economic data seen as crucial in determining the rate cut trajectory by the Federal Reserve.
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The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed’s seven-member governing board, which was designed to be largely independent from day-to-day politics
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Some analysts opine that a 25 bps rate cut by the US Federal Reserve should be expected, while others hint at a bumper 50 bps cut.
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A cut this week, however, won’t necessarily set the Fed on a smooth glide path to lower rates
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Treasury Secretary Scott Bessent, who is helping run the search, says the Fed's "policymaking arrogance" has caused missteps
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By ousting Cook, the president could potentially add another voice to the Fed's board, to try and shift interest rates in his favored direction.
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President’s attempt to fire governor Lisa Cook risks undermining central bank’s independence
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Jerome Powell Speech Latest News Today (August 22): He highlighted that while the labor market remains strong and the economy continues to demonstrate 'resilience,' downside risks are building.
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Trump has tarnished Fed Chair Jerome Powell as “Too Late” for not slashing rates months ago, and suggested he too should step aside.
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The Fed chair is facing relentless attacks from President Donald Trump for refusing to cut interest rates. Trump has also pledged to replace Powell next year when his term as chair expires with someone more compliant.
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U.S. stocks closed well off earlier highs after a choppy session on Wednesday (July 30), as Federal Reserve Chair Jerome Powell chilled expectations the central bank might be poised to cut rates at its September meeting.
In keeping rates unchanged, as was widely expected, the central bank said "the unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated," in a split decision that saw two governors dissent.
Stocks were modestly higher before the Fed statement as investors assessed the first reading of second-quarter economic growth, which was stronger than expected, but underlying details indicated an economy that was likely losing strength.
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Federal Reserve Chair Jerome Powell downplayed strong Q2 GDP, instead flagging moderating economic growth over H1 of 2025.
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FOMC July Meeting: Two Federal Reserve governors dissented from the central bank’s decision to keep interest rates steady.
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FOMC July Meeting: The U.S. Federal Reserve has kept the federal funds effective rate unchanged at the 4.25-4.5 percent mark, unchanged since December 2024.
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US stock futures were trading mixed, but close to the flatline, ahead of the Federal Reserve FOMC decision on the key rate on July 30.
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The U.S. Federal Reserve is expected to hold interest rates steady at its July 30 meeting, despite political pressure and rising inflation.
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President Trump has dismissed reports of firing Federal Reserve Chair Jerome Powell, despite GOP criticism and controversy over the Fed's $2.5B renovation. Trump called the claims false but didn’t entirely rule it out if fraud is found. Here’s what he said, how markets reacted, and what it means for the future of the Fed.
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Trump looked to downplay possibility of firing Powell, suggesting he was content to wait until the end of his term in May 2026.
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Anna Paulina Luna, a Florida Republican who was among the holdouts on the cryptocurrency bill, wrote on social media that she was “Hearing Jerome Powell is getting fired! From a very serious source.”
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The heightened pressure coincides with relentless calls from Trump for the Fed to lower interest rates – which Powell and fellow policymakers have defied so far this year
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Experts said the Fed may wait for meaningful signs of weakness in the labor market before acting, which implies that the next cut may only arrive in September.
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Federal Reserve Chair Jerome Powell said inflation is expected to rise in the coming months as the effects of tariffs work through the supply chain.
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According to the CME Group’s FedWatch tool, investors did not anticipate a rate cut in the Fed’s June meeting.
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FOMC June Meeting: The U.S. Federal Reserve has kept the federal funds effective rate unchanged at the 4.25-4.5 percent mark, unchanged since December 2024.
