Trump, Fed and marble
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Fed, Waller and Trump
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President Donald Trump wants the Federal Reserve to slash interest rates by three percentage points, a massive cut that could push borrowing costs back to pandemic lows. With two seats at the Fed likely opening up soon,
Federal Reserve Governor Christopher Waller's comments come as tensions between Fed Chair Jerome Powell and President Donald Trump have reached a boiling point in recent days.
The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs.
President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.
Warren added the next Fed chair will face a tough task proving they’re committed to central bank autonomy, as concerns grow that Trump may nominate someone more loyal to him than to economic principles.
Amid a fresh set of attacks on Fed Chair Jerome Powell came reports that President Donald Trump might fire the central banker. Increasingly, Trump is frustrated with Powell for not lowering interest rates already.
President Trump said Wednesday it's "highly unlikely" that he would fire Jerome Powell, but he continued to air his frustrations with the Federal Reserve chair. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Federal Reserve Chair Jerome Powell on Thursday said the agency’s renovation of its office complex in Washington complies with plans approved by a local commission, disputing a White House suggestion