U.S. Federal Reserve Chair Jerome Powell testifies before a House Financial Services Committee hearing on “The Semiannual Monetary Policy Report to the Congress,” on Capitol Hill in Washington, D.C., U.S., June 24, 2025. Kevin Lamarque | Reuters As the Trump administration escalates its criticisms of the Federal Reserve and Chairman Jerome Powell, the central bank is…
A top Trump administration official accused Federal Reserve Chair Jerome Powell of leading an “ostentatious” office renovation project that may be “violating the law” on Thursday, a new broadside against the central bank chief as President Trump tangles with him over interest rates. “The President is extremely troubled by your management of the Federal Reserve…
Office of Management and Budget Director Russell Vought vowed Friday to press an investigation into renovations at the Federal Reserve building, which he called a “palace” where costs are running amok. In a potential escalation of President Donald Trump‘s feud with Fed Chair Jerome Powell, Vought told CNBC that an investigation is warranted into whether…
President Donald Trump‘s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters. The broadside by Office of Management and Budget Director Russell Vought opened up a new front in Trump’s war…
Federal Reserve officials diverged at their June meeting about how aggressively they would be willing to cut interest rates, split between concerns over tariff-fueled inflation and signs of labor market weakness and economic strength. Minutes from the June 17-18 meeting released Wednesday showed that policymakers largely held to a wait-and-see position on future rate moves….
The silhouette of a pedestrian is seen walking past the Marriner S. Eccles Federal Reserve building in Washington, D.C Andrew Harrer | Bloomberg | Getty Images If leading the Federal Reserve isn’t challenging enough, the next central bank chair faces an additional burden: credibility issues now that President Donald Trump has stepped up efforts to…
Treasury Secretary Scott Bessent on Monday said the Trump administration will make “several” trade-related announcements in the next 48 hours, signaling imminent progress even as U.S. tariff deadlines appear to be shifting. Speaking on CNBC’s “Squawk Box,” Bessent also declined, yet again, to rule out the possibility that he could serve as the next chair…
Flags of the European Union and the United States. Sean Gallup | Getty Images News | Getty Images CNBC’s assignment desk has a conundrum this week: how to approach July, 9. Why does this specific date matter? It’s the deadline for trade negotiations between the U.S. and European Union before the tariffs axe (maybe) falls…
The Otemachi One Tower building in Tokyo, Japan. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets traded mixed Thursday as investors await details on the U.S.-Vietnam trade agreement that President Donald Trump announced Wednesday. The U.S. is imposing a 20% tariff on goods imported from the Southeast Asian nation, while the latter will impose “ZERO…
President Donald Trump said Wednesday that the United States has struck a trade deal with Vietnam that includes a 20% tariff on the southeast Asian country’s imports to the U.S. Trump’s announcement on Truth Social said that the deal will give the U.S. tariff-free access to Vietnam’s markets. Vietnam also agreed that goods would be…
