Trump won’t rule out sacking Powell
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Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve’s credibility.
Let the earnings barrage commence. JPMorgan (JPM) is out with a big earnings beat, and CEO Jamie Dimon is voicing his support for Federal Reserve Chairman Jerome Powell and the very institution President Trump and his team are attacking.
Jamie Dimon, JPMorgan Chase's CEO, cautioned President Trump on the risks of tariffs to the US economy during the bank's earnings call. He stressed the importance of the Federal Reserve's independence,
JPMorgan Chase CEO Jamie Dimon said Tuesday that the independence of the Federal Reserve is 'absolutely critical' and that 'playing around with the Fed can often have adverse consequences.'
This on-again, off-again approach has fueled a wave of uncertainty, compounding concerns over monetary policy and the potential fallout from a sudden change in leadership at the Fed. With the administration making no secret of its desire for lower rates, the prospect of disruption looms large.
The search for the next leader of the world’s most influential central bank is officially under way, Treasury Secretary Scott Bessent told Bloomberg on Tuesday. “There’s a formal process that’s already starting,
If President Donald Trump takes the unprecedented step of trying to fire Fed Chairman Jerome Powell, the effort would roil markets and likely be met with pushback in the courts. Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.
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.