Trump will likely fire Fed's Jerome Powell
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President Donald Trump may ultimately get his wish for lower interest rates, but it isn’t likely to be the result of his intensifying criticism of Federal Reserve Chairman Jerome Powell.
It hasn't been an easy start to 2025 for Jerome Powell. Unfortunately for the Fed chair, the second half of the year is likely to be even tougher.
President Trump lashes out at Fed Chair Jerome Powell, blaming him for persistently high inflation and sluggish price relief. Here’s what’s driving the political and economic tension.
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Economists expect the Consumer Price Index, to be released at 8:30 a.m., to show that the annual rate of so-called core inflation edged up to 3 percent in June as businesses started to pass some of the $100 billion collected in import taxes along to consumers.
The president is heaping criticism on Fed Chairman Jerome Powell as markets await the latest inflation numbers.
Analysts at Deutsche Bank consider the president's removal of Fed chief Jerome Powell "one of the largest under-priced event risks over the coming months."
The Trump administration’s intensifying campaign against Federal Reserve Chair Jerome Powell hit a boiling point Thursday.