Jerome Powell
Mortgage demand flatlines at low levels, as mortgage rates hit 4-week high
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates rose last week to the highest level in four weeks, but mortgage demand didn’t really move. Total mortgage application volume increased 0.8% last week from the previous week, according to the Mortgage Bankers […]
Read More
Sen. Mike Lee posts, deletes fake resignation letter by Fed Chair Powell: Reports
Sen. Mike Lee, R-Utah., speaks to reporters as he arrives for the Senate Republicans’ lunch meeting in the U.S. Capitol on Tuesday, June 17, 2025. Bill Clark | CQ-Roll Call, Inc. | Getty Images Sen. Mike Lee, R-Utah, on Tuesday reportedly shared and then hastily deleted a fake, apparently AI-generated letter purporting to show Jerome […]
Read More
Top economist Mohamed El-Erian breaks ranks with Wall Street and says Powell should resign to preserve Fed independence
President of Queens’ College of Cambridge University Mohamed El-Erian speaks during a panel discussion at the headquarters of the International Monetary Fund during the Annual Meetings of the IMF and World Bank in Washington, D.C., on Oct. 13, 2022. James Lawler Duggan | Reuters Mohamed El-Erian on Tuesday called for Federal Reserve Chair Jerome Powell […]
Read More
Bessent: Imposing Aug. 1 tariffs ‘will put more pressure’ on trade partners for deals
Scott Bessent, US treasury secretary, during a Bloomberg Television interview in New York, US, on Friday, May 23, 2025. Bloomberg | Bloomberg | Getty Images Treasury Secretary Scott Bessent said Monday that implementing high tariff rates on countries starting August 1 “will put more pressure on those countries to come with better agreements.” Bessent’s remarks […]
Read More
Bessent tried to dissuade Trump from firing Powell: WSJ
Scott Bessent, US treasury secretary, during a Bloomberg Television interview in New York, US, on Monday, June 30, 2025. Victor J. Blue | Bloomberg | Getty Images Treasury Secretary Scott Bessent recently urged President Donald Trump not to fire Treasury Secretary Jerome Powell, warning of the potential economic, political, and legal consequences of such a […]
Read More
Unraveling the legal, economic and market ramifications if Trump tries to fire Fed Chair Powell
Key Points If President Donald Trump tries to fire Federal Reserve Chair Jerome Powell, it would set off a courtroom battle that would likely head to the Supreme Court. Most people familiar with the situation say Powell would sue if Trump tries dumping him. Despite seemingly low chances of success, going after Powell still could […]
Read More
Trump appointees pushed more marble in Fed building renovation White House now attacks
The Federal Reserve building is seen as it goes under construction on July 17, 2025 in Washington, DC. U.S. Michael M. Santiago | Getty Images President Donald Trump has looked to the marble finishes and hefty price tag of the Federal Reserve headquarters to claim grounds to fire Chair Jerome Powell, with whom he has tussled for […]
Read More
Fed Chair Powell responds to White House questions about HQ renovation
Federal Reserve Chairman Jerome Powell on Thursday formally replied to a set of pointed questions from the director of the White House Office of Management and Budget about the renovation of the Fed’s Washington headquarters. Powell pointed to a newly launched page on the Fed’s public website dedicated to answering questions about the project, which […]
Read More
Markets will ‘crash’ if Trump fires Powell, Sen. Warren warns
Stock and bond markets and the value of the U.S. dollar will plunge if President Donald Trump fires Federal Reserve Chairman Jerome Powell, Sen. Elizabeth Warren warned Thursday. “I think they crash,” Warren, D-Mass., said on CNBC’s “Squawk Box” when asked what would happen if Trump succeeds in pushing Powell out as head of the […]
Read More
5 things to know before the stock market opens Thursday
Here are five key things investors need to know to start the trading day: 1. Mixed messages President Donald Trump on Wednesday denied the he plans to fire Federal Reserve Chair Jerome Powell following reports that he told Republican lawmakers that he would. A senior White House official told CNBC that Trump asked House Republicans […]
Read More