All posts tagged: Federal Reserve

Outgoing chair Powell delivers defence of Fed independence

Outgoing chair Powell delivers defence of Fed independence

Published by Sam Flores

WASHINGTON: Outgoing US Federal Reserve chair Jerome Powell on Sunday (May 31) delivered a staunch defence of the need for the central bank to maintain independence and credibility, as it comes under assault from President Donald Trump. “Like many other institutions, the Fed has been undergoing a stress test,” he said as he accepted an award from the John F Kennedy Library Foundation. “If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well,” Powell said, in a barely veiled reference to the Trump administration’s attempt to fire Fed Governor Lisa Cook. “The public would lose faith that the central bank will make decisions based only on what’s best for all Americans.” In his second term in power, Trump has frequently criticised and insulted Powell, alleging he was too slow to lower interest rates. Trump’s Justice Department went so far as to pursue criminal charges against the Fed chair over a building renovation project. The probe was eventually dropped to smooth the path towards Powell’s …

Powell says Fed can ‘wait and see’ how war affects inflation

Powell says Fed can ‘wait and see’ how war affects inflation

Published by Sam Flores

CAMBRIDGE, Massachusetts: Federal Reserve Chair Jerome Powell on Monday (Mar 30) said the US central bank can wait to see how the Iran war affects the economy and inflation, noting that policymakers typically look through shocks such as those from higher oil prices. “We feel like our policy’s in a good place for us to wait and see how that turns out,” Powell said during a question-and-answer session held as part of a macroeconomics class at Harvard University. His remarks appeared to calm financial markets that last week had reflected rising expectations the Fed may try to head off higher inflation by raising rates. Those rate hike bets have all but disappeared. As the Iran war enters its fifth week and US gasoline prices rise to around an average of US$4 a gallon, Powell acknowledged the potential squeeze between the Fed‘s two mandates of full employment and price stability. “There’s sort of downside risk to the labour market, which suggests keep rates low, but there’s upside risk to inflation, which suggests maybe don’t keep rates …

Central banks confront spectre of inflation as Iran war escalates – Business

Central banks confront spectre of inflation as Iran war escalates – Business

Published by Sam Flores

To display this content from YouTube, you must enable advertisement tracking and audience measurement. Accept Manage my choices One of your browser extensions seems to be blocking the video player from loading. To watch this content, you may need to disable it on this site. Try again BUSINESS DAILY © FRANCE 24 Issued on: 19/03/2026 – 11:45Modified: 19/03/2026 – 11:47 05:27 min From the show Reading time 1 min Strikes on the natural gas production facilities of Iran and Qatar have sent energy prices soaring, with central bankers around the world struggling to set monetary policy amid a highly uncertain inflationary outlook. We take a closer look. Also in this edition: the French shipbuilding industry welcomes the start of construction of the country’s next nuclear-powered aircraft carrier. By: Source link

Federal judge quashes DOJ investigation into Jerome Powell saying it was just for Trump’s retribution

Federal judge quashes DOJ investigation into Jerome Powell saying it was just for Trump’s retribution

Published by Sam Flores

A federal judge quashed the Department of Justice’s attempt to subpoena Federal Reserve Chairman Jerome Powell, saying the effort was part of the Trump administration’s effort to pressure Powell to lower interest rates. Judge James Boasberg wrote a ruling for the U.S. District Court for the District of Columbia that referenced President Donald Trump’s repeated taunts against the chairman of the United States’ central bank to force Powell into lowering interest rates. Some have complained that Trump is using the DOJ to enact revenge on his political enemies. The U.S. attorney’s office for Washington had sought to subpoena Powell in relation to roughly $3 billion renovations to the Federal Reserve’s offices. The cost of the project has drawn Trump’s ire, and he has complained about the cost, as well as Powell’s decisions on interest rates. Powell had denied that the renovation had included some of the more extravagant expenses described in media reports. Last year, Trump also visited the construction site, where Powell fact-checked Trump during the visit. “A mountain of evidence suggests that the …

US investigation into Fed chair Powell sparks chorus of criticism – Business

US investigation into Fed chair Powell sparks chorus of criticism – Business

Published by Sam Flores

To display this content from YouTube, you must enable advertisement tracking and audience measurement. Accept Manage my choices One of your browser extensions seems to be blocking the video player from loading. To watch this content, you may need to disable it on this site. Try again BUSINESS © FRANCE 24 Issued on: 12/01/2026 – 23:03 07:26 min From the show Reading time 1 min Criticism has been pouring in from Republican and Democratic lawmakers, former Fed chairs and top officials after the US Justice Department launched a criminal investigation into Federal Reserve chairman Jerome Powell. After Powell described the move as retaliation against the Fed for not lowering interest rates as quickly as US President Donald Trump wanted, concern over the central bank’s independence pushed prices of safe-haven assets like gold and silver higher.   By: Source link