Fed, Trump and Powell
Digest more
President Trump's war on Federal Reserve chair Jerome Powell is taking on a more aggressive form, bringing Trump a step closer to trying to oust the head of the Fed. Why it matters: Trump wants Powell to cut interest rates,
"As a big business owner looking at rates at 1% or 2%, I'm definitely saying, 'what do you know that I don't?'"
As part of his campaign to get rid of Jerome Powell, President Donald Trump has blamed the Federal Reserve chair for costing the country “hundreds of billions of dollars” by not slashing interest rates.
A Wall Street Journal report on Saturday detailed Bessent's concerns in talks with the president over a possible ousting of the Fed chairman.
Jerome Powell has long been a target of President Donald Trump, who has repeatedly criticized the Fed chair for not cutting interest rates.
Governor Christopher Waller's comments come as tensions between Fed Chair Jerome Powell and President Donald Trump have reached a boiling point in recent days.
A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts.