The White House has long pushed Fed Chair Jerome Powell to lower interest rates. Today, Press Secretary Karoline Leavitt held up a note that President Trump sent to Powell. Powell has signalled he wants to wait and see how the economy performs before lowering rates. He said many experts both inside and outside the Fed expect a rise in inflation, and he wants to see if that occurs before making any moves. The note read, “Jerome, you are as usual too late. You have cost the USA a fortune and conti
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On Sunday, Federal Reserve Chairman Jerome Powell said that the Department of Justice served the Federal Reserve with grand jury subpoenas. The subpoenas threatened a criminal indictment tied to Powell’s June testimony to the Senate Banking Committee, concerning the Fed’s $2.5 billion efforts to renovate two of its buildings. Powell said that the threat of criminal charges was “not about my testimony last June or about the renovation of the Federal Reserve buildings.” but instead “a consequence
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