Fed's Spending Trump Uses Against Powell
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Russell Vought, director of the Office of Management and Budget, said Federal Reserve Chair Jerome Powell "has grossly mismanaged the Fed."
Federal Reserve governor Christopher Waller said Thursday that the central bank should consider cutting interest rates at its July meeting, even after a strong June jobs report.
Under a proposal put up for comment Thursday, the Fed would allow banks with one "deficient" rating to still be considered well-managed
The Federal Reserve on Thursday proposed tweaks to how it evaluates large banks by making it easier for them to be considered "well managed," removing a hurdle for potential acquisitions and other restrictions.
Theres a great story on the front page of the Wall Street Journal today, called Two Kevins Battle to Be Next Fed Chair in Trumps
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The right to freedom of speech allows Trump to make demands of the Fed to his heart's content. But legally, he cannot compel the central bank to lower its benchmark interest rate. The Fed has the right to act independently, and its aim is to promote a healthy and stable economy by keeping inflation in check.
Fed Chair Jerome Powell has sketched out new conditions that could trigger rate cuts by summer’s end, but inflation remains a big question.
Fed officials are increasingly split on rate cuts, though UBS's Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”