Jerome Powell

A collection of 53 posts

Politics

DOJ Subpoenas Complicate Supreme Court Review of Trump’s Bid to Remove Lisa Cook

The Supreme Court is set to hear President Trump’s effort to remove Federal Reserve governor Lisa Cook as the Justice Department has issued subpoenas in a criminal investigation of Fed chair Jerome H. Powell, a development legal experts say could complicate the case. The solicitor general will argue to

Politics

Trump’s hesitation on Hassett elevates Kevin Warsh as leading Powell successor

Beincrypto reported President Donald Trump publicly signaled hesitation about moving Kevin Hassett to the Federal Reserve, suggesting he prefers to keep Hassett in his current White House role and casting doubt on Hassett’s chances to succeed Jerome Powell as Fed chair. The remark immediately reshuffled expectations, with Kevin Warsh

Politics

Trump praises Kevin Hassett but expresses doubt about nominating him for Fed chair

President Trump on Friday expressed hesitation about naming his top economic adviser, Kevin A. Hassett, to lead the Federal Reserve, while praising his work during remarks at a White House health care event. Mr. Trump said, "I actually want to keep you where you are, if you want to

Politics

Trump praises Hassett but hesitates to name him as Fed chair

President Trump on Friday expressed hesitation in naming Kevin A. Hassett, the director of the White House’s National Economic Council, to lead the Federal Reserve, speaking at a health care event at the White House. He praised Hassett’s work in defending the administration’s economic agenda on television,

Business

JPMorgan posts $57 billion profit in 2025, cites multiple headwinds

JPMorgan Chase, the nation’s largest bank, reported $57 billion in profit for 2025, down from a record $59 billion in 2024, the bank said on Tuesday. The bank, which recently moved into new headquarters in Manhattan, described the result as mixed. Executives flagged several factors that limited earnings growth,

Politics

Criticism mounts over criminal inquiry into Fed chair Jerome Powell

The U.S. attorney in Washington has opened a criminal inquiry into Federal Reserve chair Jerome H. Powell over a $2.5 billion renovation of the Fed’s headquarters and whether he lied to Congress, drawing swift criticism from Republicans, international policymakers, Wall Street and some Trump allies. Jeanine Pirro

Politics

Trump leans on government power in push to lower prices

Nearly one year after returning to the White House, President Trump has embraced a strategy of using the force of government to try to push down prices, outlining some of his thinking in a speech in Detroit. Over the past month he has combined regulatory threats and punitive actions aimed

Business

DOJ probe of Powell raises questions over Fed independence and bitcoin's role

Beincrypto reports the US Department of Justice is investigating Federal Reserve Chair Jerome Powell, a development that has renewed scrutiny of the Fed’s independence and shaken investor confidence. In an extraordinary video statement, Powell said prosecutors are probing the Fed’s renovation of its Washington headquarters and described the

Business

U.S. consumer inflation held at 2.7% as Fed readies January meeting

Consumer prices were 2.7 percent higher in December from a year earlier, and core inflation excluding food and energy was 2.6 percent, the Bureau of Labor Statistics reported, leaving inflation essentially steady as the Federal Reserve prepares to meet later this month. Month to month, the CPI rose

Politics

Mike Johnson reserves judgment on alleged DOJ probe of Fed chair Jerome Powell

House Speaker Mike Johnson said he would reserve judgment about a supposed Department of Justice probe into Federal Reserve Chair Jerome Powell at his weekly press conference, Independent.co reported. Powell announced on video that he was being threatened with criminal charges by the Trump administration’s DOJ. The charges

Politics

Major central banks back Powell, warn political pressure could threaten market stability

Governors from 11 major central banks issued a joint statement on Tuesday backing Federal Reserve Chair Jerome H. Powell and warning that political pressure on the Fed risks undermining financial and economic stability worldwide. The signatories included European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey, Bank

Politics

Republicans break with Trump over DOJ probe of Fed chair Jerome Powell

Time reports that Republican lawmakers have publicly broken with the Trump administration after the Department of Justice opened a criminal investigation into Federal Reserve Chair Jerome Powell. Powell confirmed that the Fed received grand jury subpoenas from the DOJ on Friday as part of an inquiry into whether he lied

Politics

Powell rebukes White House after DOJ subpoenas, raising stakes for Fed independence

Jerome H. Powell pushed back publicly after The New York Times revealed a criminal investigation into whether he lied to Congress, and after the Justice Department served the Federal Reserve with grand jury subpoenas, prompting the central bank to abandon its previous cautious stance toward the administration. The subpoenas, served

Business

Global central bankers back Fed chair Jerome Powell after criminal probe

Central bankers around the world signed a statement of support for Federal Reserve chair Jerome H. Powell on Tuesday, defending the Fed from attacks by the Trump administration that have been widely seen as trying to erode the U.S. central bank’s independence. Eleven central bankers expressed their support,

Politics

Trump calls economy “unbelievable” as reporters press him on cost-of-living worries

When New York Times reporters pressed President Trump about Americans’ economic anxieties, he insisted the economy was “unbelievable,” blamed his predecessor for high prices, dismissed the polls and pointed to his popularity on TikTok. He told reporters that “the greatest beneficiaries of my economy in my first term were low-income

Business

New York Fed's Williams signals little urgency for further rate cuts

John C. Williams, president of the Federal Reserve Bank of New York, said on Monday he saw little urgency to lower interest rates again, reinforcing expectations that the Fed will hold borrowing costs steady at its meeting on Jan. 27–28. Williams said the central bank was "well positioned&

Politics

Prosecutors Open Inquiry Into Fed Chair Jerome Powell as Trump Steps Up Pressure

Federal prosecutors have opened a criminal investigation into Federal Reserve Chair Jerome H. Powell over renovation work at the central bank’s headquarters, a move that marks an escalation in President Trump’s months‑long campaign to pressure the Fed to cut interest rates. The inquiry is being overseen by

Politics

Justice Department opens criminal inquiry into Fed Chair Jerome Powell over renovations

The Justice Department has opened a criminal investigation into Jerome H. Powell, the chair of the Federal Reserve, over public statements about a $2.5 billion renovation of the Fed’s headquarters in Washington. For the first time in history, a Fed chair is the subject of a criminal probe,

Politics

Justice Department Opens Criminal Inquiry into Fed Chair Jerome Powell

The Justice Department opened a criminal investigation into Jerome H. Powell, the chair of the Federal Reserve, a move The New York Times said escalates pressure on the central bank to cut interest rates. Mr. Powell is the first Federal Reserve chair to face a criminal investigation. The department served

Business

Markets slip after DOJ opens criminal inquiry into Fed chair Jerome Powell

Stocks, the dollar and U.S. government bonds fell on Monday after federal prosecutors opened a criminal investigation into Jerome H. Powell, the chair of the Federal Reserve, and gold reached a fresh record high as investors reacted to the news. The S&P 500 was set to open

Politics

Trump says he has no knowledge of DOJ subpoenas to Fed chair Jerome Powell

According to People, Donald Trump said on Monday, Jan. 12, that he "doesn't know anything" about a Justice Department investigation after the DOJ served grand jury subpoenas on the Federal Reserve and Chair Jerome Powell. Powell said in a video statement on Sunday, Jan. 11, that

Politics

D.C. criminal investigation opened into Fed Chair Jerome Powell over renovations

Time reports the U.S. Attorney’s office in the District of Columbia has opened a criminal investigation into Federal Reserve Chair Jerome Powell focused on the central bank’s nearly $2.5 billion headquarters renovation. The probe was approved in November by U.S. Attorney for D.C. Jeanine

Politics

Powell links DOJ subpoenas to interest-rate dispute, calls action "unprecedented"

Beincrypto reports Federal Reserve Chair Jerome Powell said the Department of Justice issued grand jury subpoenas to the Fed and threatened a criminal indictment tied to his Senate testimony about the $2.5 billion renovation of the central bank's Washington headquarters. Powell described the move as "unprecedented&

Politics

D.C. prosecutors have opened criminal inquiry into Fed chair Jerome Powell

The U.S. attorney’s office in the District of Columbia has opened a criminal investigation into Federal Reserve chair Jerome H. Powell over the central bank’s Washington headquarters renovation and whether he lied to Congress about the project, according to officials briefed on the situation. Officials said the

Business

Fed says it needs clearer labor-market weakness before cutting rates again

Federal Reserve officials said they will likely need to see more notable signs of a labor-market slowdown before lowering interest rates again after a series of reductions last year. Officials and investors will look to December’s jobs report, due Friday, for a clearer read, particularly because a government shutdown