Fed, Scott Bessent and Powell
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The Federal Reserve’s independence from political interference, viewed as sacrosanct inside the central bank, is under siege.
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The U.S. Federal Reserve's independence is under threat from mounting political interference, according to a clear majority of economists polled by Reuters, although no one expects a July interest rate cut despite a recent divergence in views among policymakers.
In opening a Federal Reserve conference on banking regulation on Tuesday, Chair Jerome Powell skipped making any controversy or news, as expected. Powell’s brief prepared remarks gave no monetary-policy hints and,
Treasury Secretary Scott Bessent said Monday he believes the Federal Reserve system should be reviewed for potentially holding back the US economy, which is “on the cusp” of growth that could equal the dot-com boom seen in the 1990s.
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For the moment, our central forecast still sees the Fed remaining on hold throughout 2025. For 2026, we have changed our base case to feature one additional rate cut in the first half, which would take the fed funds rate to neutral levels by the end of that year.
The Trump administration has seized on the Federal Reserve’s renovation of its building in what legal experts say could be pretext to fire Jerome H. Powell, the central bank chair.
The composite manufacturing index fell twelve points to -20, remaining in negative territory for a fifth straight month.
The over budget renovation of the Federal Reserve's headquarters draws criticism from the Trump administration and raises pressure on Chairman Jerome Powell.
Trump Says Firing Fed Chair Is 'Highly Unlikely,' But Here's How The Move Would Shake Global Economy
Economist Clifford Winston joined "Forbes Newsroom" to discuss President Donald Trump's recent criticisms of Federal Reserve chair Jerome Powell.
U.S. Treasury Secretary Scott Bessent on Wednesday suggested without evidence that the Federal Reserve's widely followed economic forecasts are motivated by politics, as the Trump administration steps up pressure on the U.