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The Latest Breaking News from Jay Powell

Trump narrows Fed chair candidates to four, excluding Treasury Secretary Bessent

Trump said in an interview with CNBC that he had removed Treasury Secretary Scott Bessent from consideration for Fed chair because Bessent wanted to remain in his current role.

Euronews

‘Give me a break’: Trump says he hired Fed chair Powell as a ‘favor’ after CNBC host presses him on labor bureau firing

Trump defended his recent decision to fire head of BLS while distancing himself from his past decision to hire Fed chair Jerome Powell

The Independent UK

Jamie Dimon doubles down on backing Powell despite Trump criticism, saying an independent Fed means lower rates

"Independence keeps interest rates lower, if you actually look through the history of interest rates a little bit," Dimon says.

Fortune

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Divided Fed leaves interest rates unchanged despite Trump pressure

Two Federal Reserve governors vote against decision as US GDP grows at an annual rate of 3% in second quarter

The Guardian - US

Republican senator calls Jay Powell ‘the Fauci of the financial system’

Ohio’s Bernie Moreno argues Federal Reserve chairman is ‘grossly incompetent’ and should step down

The Independent UK

Are US tariffs starting to bite? Trump, in denial over rising prices, targets Fed chief Powell

The White House is trying to drive out the Federal Reserve chair. Critics warn it would be a costly bid to pass the buck

The Guardian - US

Fed officials grow more outspoken—and split—over interest rate cuts

Some officials want a July cut to protect the labor market, while others want to wait because they anticipate more inflation coming.

Fortune

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Federal Reserve's Waller says central bank should cut rates at next meeting

A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts

The Independent UK

‘The independence of the Fed is absolutely critical’: Jamie Dimon warns Trump against firing Jerome Powell

Markets drop, Trump walks back, repeat.

We Got This Covered

Who Appointed Jerome Powell and Can President Trump Fire Him? What You Need to Know

Jerome Powell, appointed by Trump, faces firing threats. Legal limits and market risks loom. Legal hurdles and recent backtrack suggest it's unlikely, but tensions remain.

International Business Times UK

JP Morgan chief defends independence of Fed chair amid Trump attacks

Jamie Dimon cautions against interference as treasury secretary says process to replace Jerome Powell has begun

The Guardian - UK

Scott Bessent confirms moves to replace Jerome Powell are under way: 'There's a formal process that’s already starting'

JPMorgan CEO Jamie Dimon responded hours later that he believes Fed independence is "absolutely critical."

Fortune

Federal Reserve chair blames Trump’s tariffs for preventing interest rate cuts

Jerome Powell says inflationary impact of the president’s trade policies needs to be assessed before borrowing costs can be reduced

The Guardian - UK

Scott Bessent On Replacing Powell As Fed Chair: 'I Will Do What The President Wants' — Plays Down Shadow Chair Speculations

On Monday, U.S. Treasury Secretary Scott Bessent responded to a question on whether he was willing to replace Jerome Powell as Federal Reserve chair.

Benzinga

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The Independent UK

Voices: Who will Trump pick to replace his ‘terrible’ and ‘stupid’ Federal Reserve boss?

COMMENT: For daring to speak out against tariffs and refusing to lower interest rates, Jay Powell has become the president’s public enemy number one. His successor could be announced early out of spite – and there’s one clear contender who’s up to the job, says James Moore

Fortune

Rate debate among the Fed has analysts questioning who’s ‘auditioning’ for Powell’s job already

President Trump has said he may move up the announcement of Powell's replacement, with analysts looking for public debate among FOMC members for clues as to who is "auditioning" for the role.

The Independent UK

The Latest: California challenges Trump's use of military in Los Angeles

Opponents of President Donald Trump’s administration are set to rally in hundreds of cities on Saturday

Fortune

It's the norm for the Fed chairman and U.S. president to have a meeting—Powell says he's never asked for a sit-down and 'never will'

Jerome Powell has fought hard to keep the Fed out of political narratives, and said he would never request a meeting with President Trump.

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Fortune

Fed Chair Powell might have quietly won Trump’s one-sided war with the central bank after the president says he has ‘no intention’ of firing him

Powell might have escaped Trump's one-sided battle with the Fed unscathed.

Fortune

Trump calls on FCC chair to impose ‘maximum fines and punishment’ on Paramount’s CBS over 60 Minutes

Donald Trump took issue with its 60 Minutes news program after it aired two segments regarding the war in Ukraine and his plan to annex Denmark’s autonomous territory of Greenland.

Livingetc

5 Times It'd Be a Mistake to Put a Hob on Your Kitchen Island — And How to Get It Right

Island hobs have become a design favorite, but is it really worth it?

Kiplinger

CPI Report Puts the Kibosh on Rate Cuts: What the Experts Are Saying About Inflation

Consumer price inflation reared its ugly head to start the year, dashing hopes for the Fed to lower borrowing costs anytime soon.

Kiplinger

Fed Leaves Rates Unchanged: What the Experts Are Saying

As widely expected, the Federal Open Market Committee took a 'wait-and-see' approach toward borrowing costs.

Fortune

Donald Trump promised to tackle cost-of-living crisis—now he’s risking inflation by demanding interest rates drop ‘immediately’

Progress reducing the rise in consumer prices has stalled, with recent data coming in hotter than expected. By pressuring the Federal Reserve, Trump could reignite inflation.

Reason

Will 2025 Be the Year of U.S. Fiscal Sanity?

With inflation risks persisting and entitlement spending surging, the situation cannot be ignored. But we never should have gotten to this point to begin with.

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