White House, Fed and Powell
Digest more
An examination of the Fed is necessary to determine why members have proved unable to “break out of a certain mindset,” Bessent said.
Powell has faced a firestorm of Republican criticism over the lavish renovation — as President Trump demands that Powell consider resigning after refusing to lower interest rates.
The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it's a pretext to eventually fire the central bank chief.
The chair of the Federal Reserve made clear he would not resign, even under pressure. But pressure from the White House is likely, market watchers say. By Andrew Ross Sorkin Ravi Mattu Bernhard ...