Latest news with #FedChair
Reuters
4 days ago
- Business
- Reuters
Trump says decision on Fed chair will be out soon
WASHINGTON, June 6 (Reuters) - President Donald Trump said on Friday that a decision on the next Federal Reserve chair will be coming out soon, adding that a good Fed chair would lower interest rates. "It's coming out very soon," Trump told reporters on Air Force One. When asked specifically about former Fed governor Kevin Warsh, Trump said, "he's very highly thought of." Warsh is considered a frontrunner to be Trump's pick to be the next Fed chair. Earlier on Friday, Trump said the Federal Reserve should cut interest rates by a full percentage point and he reiterated his view that Chair Jerome Powell has been too slow to lower borrowing costs. The president has repeatedly berated Powell for not cutting rates as he desires. The two men met face-to-face for the first time last week, with Trump telling Powell he was making a "mistake" by not lowering rates.
Washington Post
29-05-2025
- Business
- Washington Post
Trump meets with Fed chief for first time since recent criticism
Federal Reserve Chair Jerome H. Powell met with President Donald Trump at the White House on Thursday to discuss the state of the U.S. economy, according to a Fed statement. It was Powell's first one-on-one with Trump since the president's initial term in the White House. The meeting, at the president's invitation, comes after Trump has repeatedly hectored the Fed chairman to lower interest rates and suggested on social media that 'Powell's termination cannot come fast enough.'
Globe and Mail
29-05-2025
- Business
- Globe and Mail
Donald Trump meets with Jerome Powell, the Federal Reserve chairman he has repeatedly scorned
U.S. President Donald Trump met with Federal Reserve Chair Jerome Powell on Thursday and the two discussed the economy but not Powell's outlook for interest rates, the Fed said. Powell told Trump that the central bank would make decisions about the short-term interest rate it controls 'based solely on careful, objective, and non-political analysis.' The Fed's rate typically influences borrowing costs across the economy, including for mortgages, car loans, and business borrowing. The meeting comes as Trump has assailed Powell for not reducing the Fed's key interest rate, calling him 'Too Late Powell.' The president initiated the meeting, the Fed said. Trump says won't remove Fed chair Powell, says good parts of economy are his doing Trump argues that there is 'no inflation' and so Powell should cut rates, though such a move might not necessarily reduce the borrowing costs consumers face. Inflation is down substantially from a year ago, yet it remains above the Fed's 2 per cent target. Trump has also called Powell a 'fool' and earlier this year suggested he would fire the Fed chair. After financial markets reacted negatively, Trump said he had 'no intention' of removing Powell, whose term as chair ends in May 2026. The meeting is the first during Trump's second term, though the two met and had lunch together in his first term. Fed chairs regularly meet with Treasury secretaries but less often with presidents, given that the Fed's interest rate decisions are intended to be separate from political concerns. Earlier this month, Powell said he had never requested a meeting with a president and added, 'I never will,' suggesting it was inappropriate given the Fed's political independence. 'I can't imagine myself doing that,' Powell said at a news conference May 7. 'It's always–comes the other way: A President wants to meet with you.'
CNN
29-05-2025
- Business
- CNN
Trump met with Fed Chair Powell for the first time in his second term
President Donald Trump on Thursday met with Federal Reserve Chair Jerome Powell for the first time in his second term, according to a statement from the central bank. The meeting, which comes after months of unrelenting attacks from Trump against the Fed chief, took place at the White House and was at Trump's request. 'Chair Powell did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook,' the Fed said in its statement. This is a developing story and will be updated.
CNN
08-05-2025
- Business
- CNN
Fed Chair: 'Possible To Imagine' Tariffs Worsen Economy
Fed Chair: 'Possible To Imagine' Tariffs Worsen Economy The Lead with Jake Tapper 85 mins Black smoke up the chimney of the Sistine Chapel as day one of the conclave comes to a close. Surprising details emerge about the frontrunners who could be selected to be the next pope. Plus, the major testing operation happening now in Milwaukee that is screening school-aged kids for possible exposure to lead.
