Trump Shreds Fed Chair Jerome Powell
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11hon MSN
On Tuesday, Federal Reserve Chairman Jerome Powell and Governor Michelle Bowman are due to speak at a banking conference. That’s as President Donald Trump and the White House have continued to wage a pressure campaign against Powell over rates and renovations at the central bank’s headquarters.
Mark Joseph Stern: Under federal law, Trump cannot remove Powell over a policy disagreement. Federal law expressly allows for the removal of the Fed’s board members only for “cause”—something like abuse of office or malfeasance. That means Trump can’t just sack Powell because Trump wants to slash rates and Powell wants to keep them steady.
Powell has faced a firestorm of Republican criticism over the lavish renovation — as President Trump demands that Powell consider resigning after refusing to lower interest rates.
Show" host Jordan Klepper breaks down exactly why Trump is so angry at his Federal Reserve Chair Jerome Powell
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Treasury Secretary Scott Bessent told the president in recent days that ousting Federal Reserve Chair Jerome Powell entailed possible risks to the economy and potential legal and political obstacles.
HUD Secretary Scott Turner criticizes Fed Chair Jerome Powell for spending billions on renovations while Americans struggle with high mortgage rates amid a housing crisis.