Treasury Secretary Scott Bessent on Monday suggested a review of the Federal Reserve that would go beyond the current controversy over building renovations and look at its overall function. “What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” Bessent said during an interview on CNBC’s “Squawk…
Scott Bessent, US treasury secretary, during a Bloomberg Television interview in New York, US, on Monday, June 30, 2025. Victor J. Blue | Bloomberg | Getty Images President Donald Trump on Sunday denied a Wall Street Journal report suggesting Treasury Secretary Scott Bessent talked him out of firing Federal Reserve Chair Jerome Powell. Bessent reportedly…
U.S. Federal Reserve Chair, Jerome Powell and U.S. President Donald Trump. Annabelle Gordon | Kevin Lamarque | Reuters If President Donald Trump tries to fire Federal Reserve Chair Jerome Powell, it would almost certainly set off a courtroom battle that legal and policy experts say is bound to get messy, with uncertain impacts on the…
Ahead of the next Federal Reserve meeting later this month, tensions between the White House and the central bank have reached a fever pitch. On Wednesday, a senior White House official told CNBC and other news outlets that President Donald Trump was likely to soon fire Fed Chair Jerome Powell. Trump later denied those reports, although he said he…
Federal Reserve Chairman Jerome Powell on Thursday formally replied to a set of pointed questions from the director of the White House Office of Management and Budget about the renovation of the Fed’s Washington headquarters. Powell pointed to a newly launched page on the Fed’s public website dedicated to answering questions about the project, which…
Former Federal Reserve Governor Kevin Warsh, reportedly on President Donald Trump‘s short list to lead the institution, called Thursday for sweeping changes on how the central bank conducts business and suggested a policy alliance with the Treasury Department. “We need regime change in the conduct of policy,” Warsh said during an interview on CNBC’s “Squawk…
U.S. Federal Reserve Chair, Jerome Powell and U.S. President Donald Trump. Nathan Howard | Jonathan Ernst | Reuters A new research note gaming out possible scenarios if President Donald Trump decides to fire Federal Reserve Chairman Jerome Powell warns that, regardless of what exactly happens next, “this would be a mess.” “We expect, as does…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves: It’s been a volatile session. The S & P 500 on Wednesday afternoon briefly sold off after it was reported that President Donald Trump…
Construction on the Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Wednesday, June 25, 2025. Al Drago | Bloomberg | Getty Images The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue….
National Economic Council Director Kevin Hassett speaks to reporters at the White House in Washington, D.C., U.S., April 14, 2025. Kevin Lamarque | Reuters National Economic Council Director Kevin Hassett said Sunday that whether the Trump administration has the authority to fire Federal Reserve Chair Jerome Powell is “being looked into.” “But certainly, if there’s…
