Fed's Powell faces dilemma
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The president and his allies accuse Powell of dragging his feet on interest-rate cuts, in a caustic and unprecedented pressure campaign.
Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.
Wall Street is ticking lower in premarket trading as investors perused Walmart’s latest financial results ahead of Federal Reserve Chair Jerome Powell’s speech on Friday.
A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.
The markets expect a rate cut in September and all eyes will be on Fed Chair Jay Powell Friday at Jackson Hole. Click here to read what investors need to know.
Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,
President Donald Trump resumed attacks on Federal Reserve Chair Jerome Powell, this time claiming he is hurting the housing industry with high rates.
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Trump housing regulator Pulte says Fed's Cook should resign or be fired, alleging mortgage fraud
Trump has targeted the Federal Reserve and its chairman, Jerome Powell, as he pressures the central bank to slash interest rates.