Trump is also likely to get one other pick. That’s because Powell is expected to depart the Fed around May, even though he could stay on as a Fed governor through January 2028.

Trump nominated Powell to serve as Fed chair in 2017 at the direction of then-Treasury Secretary Steven Mnuchin. Powell's first term as Fed chair began in February 2018. Former President Biden ...

But Fed Chair Jerome Powell is no Wizard of Oz, standing behind a curtain and pulling the levers that control all aspects of the economy. In fact, Fed rate cuts don’t even affect all interest rates.

The Fed is currently neutral on interest rates but could resume cuts later this year. If you're house hunting, here's how that may—or may not—impact 2025 mortgage rates.

The Fed’s key rate is set by a group called the Federal Open Market Committee. Powell is head of the panel, but it includes 11 other members — two of whom, like Powell, were appointed by Trump ...

Fed Governor Christopher Waller, who has been mentioned as a possible successor to Powell, recently said it's possible that holdings could drop to $5.9 trillion.

Two Fed governors may dissent on policy decision Fed likely to leave policy rate in 4.25%-4.50% range despite Trump's pressure Recent data showed strong consumer spending, weakness in housing and ...

Federal Reserve Chair Jerome Powell has told multiple associates and allies that there’s no chance he will bow to President Donald Trump’s calls for him to resign, vowing to withstand several ...

Two of the Fed’s Republican governors, Christopher Waller and Michelle Bowman, have backed Trump’s call for a rate cut as soon as this week's meeting and they could dissent, said JPMorgan ...

Meanwhile, the odds of a cut coming at the next Fed meeting stand at less than 5%. Put another way, the market gives a 95% chance to the Fed standing pat when it meets in late July.

President Donald Trump says he's found a way to achieve his goal of removing Federal Reserve Chair Jerome Powell, accusing him of mismanaging the U.S. central bank’s $2.5 billion renovation project.

Despite losing $235 billion, Federal Reserve Chairman Jerome Powell somehow still has a job—for now. His mismanagement of the Fed has not only badly hamstrung monetary policy for years but has ...