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Trump calls on the Federal Reserve board to take full control of the central bank from Powell
Trump calls Fed Chair Powell “stubborn” and urges the Fed board to take control and slash interest rates amid a slowing U.S. economy and rising inflation.
Federal Reserve Governor Kugler steps down, giving Trump slot to fill
Federal Reserve governor Adriana Kugler will step down, opening up a spot on the central bank's powerful board that President Donald Trump will be able to fill.
Federal Reserve leaves interest rates unchanged even as Trump demands cuts
WASHINGTON (AP) — The Federal Reserve left its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut. The Fed’s decision Wednesday leaves its key short-term rate at about 4.3%, where it has stood after the central bank made three cuts last year. During […]
US stocks coast toward the finish of a record-setting week
NEW YORK (AP) — U.S. stocks are ticking toward more records on Friday and coasting toward the close of another winning week. The S&P 500 was 0.4% higher in afternoon trading, coming off its latest all-time high, and is on track to finish its fourth winning week in the last five. The Dow Jones Industrial Average was […]
Trump and Powell bicker over Fed building renovations as president ratchets up pressure campaign
WASHINGTON (AP) — After months of criticizing Federal Reserve Chair Jerome Powell, President Donald Trump took the fight to the Fed’s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project. Powell pushed back, challenging the president’s latest price tag as incorrect. Wearing hard hats and grim […]
Wall Street ticks toward a record as PepsiCo and tech stocks rally
EW YORK (AP) — Wall Street is ticking toward a record on Thursday following some better-than-expected updates on the economy and a mixed set of profit reports from big U.S. companies. The S&P 500 was up 0.5% in afternoon trading and on track to top its all-time high set a week ago. The Dow Jones […]
Trump comments on Fed chair jolt stock market swings
NEW YORK (AP) — President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had “talked about the concept of firing” the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates it loves but would also risk a weakened Fed unable […]
The tariff-driven inflation that economists feared begins to emerge
WASHINGTON (AP) — Inflation rose last month to its highest level since February as President Donald Trump‘s sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances. Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% […]
Under fire by Trump over costs, Chair Powell seeks watchdog review of Fed building overhaul
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has asked an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious.” A spokesperson for the inspector general, an independent watchdog, confirmed the request and declined further comment. The request was previously reported by CNBC. The Fed has [&h[...]
White House budget director accuses Fed chair of violating building rules in renovation
WASHINGTON (AP) — White House budget director Russell Vought suggested in a Thursday letter that Federal Reserve Chair Jerome Powell is in violation of government building rules in the renovation of the Fed’s headquarters. Vought, in a letter he shared on social media, called the initial renovation plans featuring rooftop terrace gardens, VIP dining […]
Wall Street drifts as Tesla drops and yields rise following economic updates
NEW YORK (AP) — U.S. stocks are drifting on Tuesday as Wall Street’s momentum slows after setting record highs in each of the last two days. The S&P 500 was 0.1% lower in morning trading and potentially on track for its first loss in four days. The Dow Jones Industrial Average was up by 153 points, or […]
Trump ramps up attacks on the Federal Reserve but Powell sticks to ‘wait and see’ stance
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump‘s tariffs effect the economy, despite the steady stream of criticism from the White House, which wants lower borrowing costs. Powell, speaking in Sintra, Portugal, at a conference […]
