Jan 13 Stop attacking the Fed and credit card industry, Wall Street executives warn Trump By Ken Sweet, Associated Press Wall Street has generally benefited from the Trump administration’s policies and has been supportive of the president. That relationship has suddenly soured. Continue reading
Jan 13 Inflation cooled slightly in December but remains above Fed's target By Christopher Rugaber, Associated Press Many economists had expected inflation to jump last month as the government resumed normal data collection after the six-week shutdown last fall, so the modest increases that matched the November figures came as a relief. Continue reading
Jan 13 Top central bankers back Fed chair Powell with 'full solidarity' in clash with Trump By David McHugh, Associated Press Central bankers from around the world said Tuesday they “stand in full solidarity” with U.S. Federal Reserve Chair Jerome Powell, after President Donald Trump dramatically escalated his confrontation with the Fed with the Justice Department investigating and threatening criminal charges. Continue reading
Jan 12 Watch 3:53 Powell pushes back as Trump's DOJ launches unprecedented investigation into Fed By Amna Nawaz, Kayan Taraporevala The Justice Department has launched an unprecedented criminal investigation against the Federal Reserve and its chairman, Jerome Powell. For his part, Powell made it clear he was fed up with what he sees as a threat from President Trump and… Continue watching
Jan 12 Watch 7:03 Trump's intimidation of Fed's leadership threatens economic stability, Yellen says By Amna Nawaz, Ryan Connelly Holmes As Federal Reserve Chair Jerome Powell pushes back against a criminal probe from the Trump Justice Department, Amna Nawaz discusses the developments with Janet Yellen. She served as chair of the Federal Reserve Board from 2014 to 2018 and was… Continue watching
Jan 12 Watch 5:42 Ex-prosecutor on DOJ's Powell probe and Trump's targeting of opponents By Geoff Bennett, Azhar Merchant To dive into some of the legal questions behind the Justice Department's investigation into the Federal Reserve and Jerome Powell, and similar moves by President Trump, Geoff Bennett spoke with Mary McCord. She's the executive director of the Institute for… Continue watching
Jan 12 With action against Powell and the Fed, Trump's list of targeted opponents grows longer By Bill Barrow, Associated Press President Donald Trump’s administration has gone after multiple elected and appointed government officials who have either directly opposed the Republican president or not granted his wishes. Continue reading
Jan 12 WATCH: Powell vows to stand firm against 'unprecedented' Trump administration indictment threats By Christopher Rugaber, Associated Press “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions — or whether instead monetary policy will be directed by political pressure or intimidation.”… Continue reading
Jan 12 Why the Federal Reserve's independence from the White House matters By Chris Rugaber, Associated Press The Justice Department is threatening the Federal Reserve with a criminal indictment over the testimony of Fed Chair Jerome Powell this summer regarding its building renovations. Continue reading
Jan 12 DOJ investigation of Powell sparks backlash, support for Fed independence By Chris Rugaber, Josh Boak, Associated Press The Trump administration’s criminal investigation of Federal Reserve Chair Jerome Powell, which Powell said was an attempt to exert more control over the Fed. Continue reading