Federal Reserve Policy & Leadership - The President is considering potential replacements for Jay Powell as head of the Federal Reserve, whose term ends next May [1][2] - The White House maintains that the Federal Reserve should remain independent, as designed, citing academic literature that demonstrates negative economic consequences when central banks lose independence [7][8] - The President has expressed policy disagreements with the Federal Reserve, believing it has been mismanaged, but the White House asserts he is not disrespecting its independence [8][9] - The President would like to see the Federal Reserve cut rates by as many as three percentage points [9] - There is internal debate and legal uncertainty within the White House regarding the President's authority to fire Jay Powell [17][18] Interest Rates & Economic Policy - If the Federal Reserve had acted at the same pace as the European Central Bank (ECB), rates might be approximately 250 basis points (2.5%) lower [10] - There is a concern that the Federal Reserve's independence is not being respected by its own members, given that several banks worldwide are reducing rates while the Federal Reserve has not changed rates since President Trump's inauguration [10] - The current US interest rate is considered an outlier compared to Europe's rate, given the normal correlation between ECB and Federal Reserve policy [11] - The Producer Price Index (PPI) showed zero inflation for the month [11] Trade & Tariffs - The President is engaged in ongoing trade negotiations with numerous countries, with approximately 20-25 more countries reaching out to the US Trade Representative to begin negotiations [23] - The President will compare the outcomes of these negotiations to the offers in the letters and decide what is best for America, with a decision expected by the beginning of August [23][24] - The White House argues that the President's trade policy has not caused a spike in inflation; in fact, inflation has decreased [25][26] - The Council of Economic Advisors has released a report indicating that the price of imported goods has been decreasing, despite the imposition of almost $200 billion in tariffs [27]

Tonight, President Trump lashing out at his own supporters amid the ongoing Republican outcry over his administration's decision not to release Justice Department files related to convicted sex offender Jeffrey Epste. I lost a lot of faith in certain people. Yeah, I lost because they got duped by the Democrats.The president dismissing the interest by some in the MAGA world in Epstein as a Democratic distraction and chastising those supporters as quote weaklings. It's all been a big hoax. It's perpetrated by ...

Our next guest says President Trump firing Jerome Powell is quote a terrible idea that would only have negative long-term consequences. Loretta Mester is the former president of the Cleveland Fed and a CNBC contributor, someone that knows an awful lot about the inner workings of all of this. We're lucky to have you here.Thank you so much, Miss Mester. I guess just to get started, what was your general take on how today's events played out and what you think should or should not happen. Well, it's just anoth ...

And joining me now is New York Republican Congresswoman Nicole Miley Takis. Congresswoman, thank you so much for joining us here on Meet the Press. Now, thank you.So, Congresswoman, Vice President Vance is on the road today selling that so-called one big beautiful bill. Now, this does come as a new CNN poll has a majority of respondents opposing uh the bill. So, public opinion on the legislation could be vital in next year's elections.How do Republicans sell it. Well, I think as people see the benefits kick ...

Markets just did a test run on what would happen if President Trump tried to fire Federal Reserve Chair Jerome Powell, and it wasn’t pretty. It also wasn’t as ugly as many feared. https://t.co/adEkQbZWra ...

Joining us now, University of Michigan professor of economics and public policy Justin Wolfers. Faz and Ashley are still with us. Justin, you're new to the bunch. Talk to me about um about the decision if he follows through with it as uh the reporting suggested he was flirting with last night to fire Jerome Powell. Like what a fabulous day we've already had today, Katie. Uh we we between 11:00 and 12:00 we plummeted into a recession and then we came back out of it by noon. Um there's a bit of overstatement ...

Stocks moved back into positive territory in early-afternoon trading Wednesday after sliding briefly following reports that President Donald Trump is giving serious thought to firing Federal Reserve Chair Jerome Powell. https://t.co/qEJqplgqJM ...

Do you have plans uh or if you're back considering firing Jerome Powell. Um and what's your justification if if you're thinking about this to do this. Too late. He's always been too late, hence his nickname, too late.Uh he should have cut interest rates a long time ago. The country's become so successful that it doesn't have a big impact. But it does hurt people wanting to get a mortgage. Uh people want to buy a house.He's a terrible he's a terrible Fed chair. I was surprised he was appointed. I was surpris ...

He's a terrible Fed chair. I was surprised he was appointed. I was surprised, frankly, that uh Biden put him in and extended him.It is my pleasure and my honor to announce my nomination of Jerome Powell to be the next chairman of the Federal Reserve. Congratulations. ...

Do you have plans uh or if you're back considering firing Jerome Powell. Um and what's your justification if if you're thinking about this to do this. He's too late. He's always been too late, hence his nickname, too late.Uh he should have cut interest rates a long time ago. Europe has cut him 10 times in the short period of time, and we cut him none. Uh the only time he cut him was just before the election to try and help uh Kamla or Biden, whoever the hell it was, because nobody really knew.Uh obviously t ...