President Trump has a lot to say about FOMC chairman Jerome Powell—and yet it seems he won't take his fight directly to the Fed.
President Donald Trump has called out the Federal Reserve in recent weeks, urging the central bank to continue cutting interest rates. But Chair Jerome Powell said Wednesday that he hasn’t had any contact with the president and declined to comment on any of Trump’s remarks.
Fed Chair Jerome Powell is taking questions from journalists after the central bank held interest rates steady following three consecutive cuts at the end of 2024.
Jerome H. Powell has been a member of the Board of Governors of the Federal Reserve System (FRB) since May 25, 2012, appointed by then-President Barack Obama to fill an unexpired term. He was reappointed by Obama and sworn in on June 16, 2014, for a term that expires on Jan. 31, 2028.
During the disorienting flurry of Trump's executive orders, Fed Chair Powell issued an edict of his own. He's defending the borders of his job's mandate.
Federal Reserve Chair Jerome Powell said that while there is a lot of uncertainty about the outlook right now, the U.S. economy is still in a good place and the current situation isn’t as dire as it was at times such as the Covid-19 pandemic or the 2008 global financial crisis.
Central bank policymakers are widely expected to stand pat on interest rates. Investors await further details from Fed Chair Jerome Powell’s press conference.
Last month, Fed officials signaled they expect just two rate cuts for all of 2025, a shallower path of reductions than previously anticipated. Policymakers will update their projections on the economy and rates at their next meeting in March. This month’s pause in rate cuts comes amid increasing uncertainty about how inflation will evolve.
Welcome to Investopedia's live blog of the Federal Reserve's January meeting. Here, we will bring you the latest news on the Fed's decision, explain what it means, and provide analysis.
There is so much uncertainty over potential tariffs and fiscal policy that “keeping things steady looks like the prudent move,” one economist said.
Trump said Powell and the Fed "failed to stop the problem they created with inflation" in a post on Truth Social on Wednesday.