Fed, Jerome Powell and Trump
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The U.S. dollar fell on Wednesday following reports that President Trump considered firing Federal Reserve Chair Jerome Powell. Trump later denied any such plans but expressed dissatisfaction with Powell's slow rate cuts.
The Senate has reconvened to debate codifying DOGE spending cuts as the deadline to act on the White House priority looms and President Donald Trump continues pushing his agenda. Follow for live updates.
Analysts at Deutsche Bank consider the president's removal of Fed chief Jerome Powell "one of the largest under-priced event risks over the coming months."
Federal Reserve Chair Jerome Powell has requested a review of the $2.5 billion cost for Fed building renovations, sparking political debate. Critics linked to President Trump question Powell's accountability and suggest using the project costs as grounds for his dismissal,
A senior Trump administration official said Friday that Fed Chair Jerome Powell is “considering resigning” as pressure grows for an investigation into whether he lied to Congress about the central bank’s “Palace of Versailles” renovations to its headquarters in Washington, DC.