Trump says he’s ‘highly unlikely’ to fire Fed’s Powell after floating that idea in private

Trump says he’s ‘highly unlikely’ to fire Fed’s Powell after floating that idea in private

WASHINGTON (AP) — President Donald Trump says he’s “highly unlikely” to fire Federal Reserve Chair Jerome Powell. His public statement Wednesday came less than 24 hours after suggesting in a private meeting that he was leaning in favor of dismissing Powell. Trump confirmed to reporters that in a White House meeting Tuesday night with about a dozen House Republicans, he’d discussed the “concept” of dismissing Powell. The Fed chair has long been a target because of his refusal to lower interest rates as Trump wants. Trump’s team recently has accused Powell of mismanaging a $2.5 billion renovation project at the Fed. Trump said Wednesday he’s “highly unlikely” to dismiss Powell — ”unless he has to leave for fraud.”… Continue Reading

Fed leaves key rate unchanged as it awaits the impact of tariffs and Trump again scolds Powell

Fed leaves key rate unchanged as it awaits the impact of tariffs and Trump again scolds Powell

WASHINGTON (AP) — The Federal Reserve kept its key rate unchanged Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year. The Fed’s policymakers signaled they still expect to cut rates twice this year, even as they also project that President Donald Trump’s import duties will push inflation higher. They also expect growth to slow and unemployment to edge up, according to their latest quarterly projections. Fed policymakers had cut their rate three times late last year but have since have been on hold.… Continue Reading

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