Jerome Powell could stay at the Fed even after being removed as chair. Here’s what that means

Key Points

The saga over President Donald Trump’s efforts to reshape the Fed has another twist to it, revolving over whether current Chair Jerome Powell will leave after his term at the helm is finished.
Historical precedent has been for outgoing Fed chairs to leave their governor roles as well, but Powell could decide to buck that trend if he feels threats to central bank independence are stark enough.

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Finance

Trump signals he has a favorite for Fed chair: ‘Down to maybe one, in my mind’

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Key Points President Donald Trump said Wednesday he is nearing the end of a search to replace Federal Reserve Chair Jerome Powell and hinted he has his candidate in mind. “I’d say we’re down to three, but we’re down to two. And I probably can tell you, we’re down to maybe one, in my mind,” […]

Finance

Trump calls for Congress to enact 10% credit card interest rate cap; bank stocks rise

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Key Points President Donald Trump urged Congress to pass a law limiting credit card interest rates to 10%. It followed a social media post where he urged banks to set that cap. The banking industry has criticized the proposal. Source

Finance

Berkshire prepares to exit 28% stake in Kraft Heinz as new CEO aims to move on from rare Buffett gaffe

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Warren Buffett, Greg Abel and Ajit Jain during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025. CNBC Berkshire Hathaway, with new CEO Greg Abel in charge, has taken a formal step toward unwinding a rare misstep by Warren Buffett. The conglomerate, which owns GEICO insurance and BNSF Railway, registered its […]