Trump walks back idea of firing Fed Chair Jerome Powell
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President Donald Trump is not a supporter of Federal Reserve Chairman Jerome Powell, and his administration is applying pressure on the central bank.
WASHINGTON (TNND) — President Donald Trump is once again putting public pressure on Federal Reserve Chair Jerome Powell, calling for interest rate cuts amid signs of a cooling labor market. But while rate cuts have been projected for months, the Fed hasn’t moved since December of 2024, and Powell doesn’t seem ready to cave just yet.
The Fed's $2.5 billion headquarters renovation is attracting mounting criticism from the Trump administration, which had been already attacking the central bank for not cutting interest rates.