All posts tagged "Federal Reserve Chairman"

The new chairman of the Federal Reserve is already expected to have a tough time following through on one of Trump's main demands, according to the Wall Street Journal.

Trump tapped Kevin Warsh to replace Jerome Powell in January, but the economy back then looked a lot different, the Journal noted. What hasn't changed is Trump's expectation for lower interest rates, even bringing it up on Friday.

However, recent job reports and inflation are causing economists who pushed for interest rate hikes to move in a more cautious direction and to keep rates steady, per the Journal....

Sen. Elizabeth Warren (D-MA) tore into President Donald Trump's nominee for Federal Reserve chairman Kevin Warsh during a confirmation hearing at the Senate Banking Committee on Tuesday.

The ranking member criticized Trump, calling out his attacks on the independence of the Federal Reserve and its officials. Warren argued that the economy has suffered under the president's leadership and that this was his last chance to try and take control as the midterms approach this fall.

"The president has repeatedly and illegally attempted to take over the Fed," Warren said. "His bogus attacks on Governor Lisa Cook and Chair [Jerome] Powell were designed to threaten all the members of the Fed to do Trump's bidding and open more spots for Trump flunkies. Why try to end the independence of the Fed? Because Trump's economic failures are causing him political problems, and he wants the Fed to use monetary policies to artificially juice the economy in the short term. And this is his last chance to do that before the November elections."
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Sen. Thom Tillis (R-NC) delivered a stark message to President Donald Trump on Friday after the president took a big legal blow.

Tillis, who plans to not seek reelection and will end his term in January 2027, responded after a federal judge rejected U.S. Attorney Jeanine Pirro's subpoenas targeting Fed Chair Jerome Powell. U.S. District Judge James Boasberg granted the order, agreeing with the Fed that Trump's repeated attacks on the chairman indicate the investigation into the Federal Reserve's building renovation was pretextual and politically motivated.

Neil Irwin, Axios chief economic correspondent spoke during a live interview on MS NOW Friday and called Boasberg's decision a "resounding defeat" for Trump and his Department of Justice. ...

WASHINGTON — Federal Reserve Chairman Ben Bernanke made an unusual appearance at a military base in Texas on Thursday, disregarding threats that he could be treated "pretty ugly" in the Lone Star State.

Federal Reserve Chairman Ben Bernanke sympathized with the "Occupy Wall Street" movement's dissatisfaction with economic inequality at a press conference Wednesday, but said protesters should not blame the Fed for bailing out the banks.

Mitt Romney isn't the only Republican candidate .