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☆ Powell and the Fed won't be able to avoid talking about Trump forever
▼ + stars: | 2024-11-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Trump took a dim view of the Powell Fed during his first term in office, calling policymakers "boneheads" and once compared Powell to a golfer who couldn't putt. Powell, who was nominated by Trump in November 2017 and took office the following February, largely shrugged off the criticism then, and he again deflected Thursday. However, dealing with the ramifications of a Trump presidency will be almost unavoidable for the Fed leader. LaVorgna has a unique perspective on the situation, having served as chief economist for the National Economic Council under Trump. Trump historically has favored lower rates, though that too could change if the Fed cuts and inflation rises.

Persons: Jerome Powell, Kent Nishimura, Donald Trump, Trump, Powell, I'm, Joseph LaVorgna, LaVorgna, Lavorgna Organizations: Federal, Getty, firebrand Republican, Powell Fed, Trump, Fed, Nikko Securities, National Economic Council Locations: Washington, Washington , DC, stoke

☆ CNBC Daily Open: Powell maintains that elections won't sway Fed's policy
▼ + stars: | 2024-11-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Kent Nishimura | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Powell, in yesterday's press conference, maintained that "the election will have no effect on our policy decisions." "By December, we'll have more data, I guess one more employer report, two more inflation reports and lots of other data," Powell said. — CNBC's Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound and Alex Harring contributed to this report.

Persons: Jerome Powell, Kent Nishimura, Jim Reid, Trump, Scott Helfstein, Powell, we'll, that's, —, Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound, Alex Harring Organizations: FTSE, Federal, CNBC, Deutsche, Tech, Apple, Nvidia, Nasdaq, Dow Jones, Global, Congress, Fed Locations: GDAXI, Washington, Washington , DC

☆ Powell to Trump: Go ahead, make my day
▼ + stars: | 2024-11-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

That’s essentially what Federal Reserve Chair Jerome Powell is experiencing with President-elect Donald Trump’s return to the White House. When a reporter asked the Fed chair if he’d resign if Trump asked him to, Powell didn’t miss a beat. Removing a Fed chair isn’t so simpleIf Trump, or any president for that matter, were to try to remove a Fed chair, they would encounter a steep uphill battle. Ultimately, the Supreme Court could have the final say on what merits a “for cause” firing of a Fed chair. Trump has tried testing the limits anywayNevertheless, Trump threatened to fire Powell on several occasions when he was first president.

Persons: That’s, Jerome Powell, Donald Trump’s, Trump, he’d, Powell didn’t, “, ”, curtly, ” Powell, Powell, won’t, Powell doesn’t, Joe Biden, ” Trump Organizations: New, New York CNN, Federal, Trump, Republican, Bloomberg, Economic, of Chicago Locations: New York

☆ It's a fraught time in terms of economic policy, says Roger Ferguson
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a fraught time in terms of economic policy, says Roger FergusonFormer Federal Reserve Vice Chairman Roger Ferguson joins 'Squawk Box' to discuss the Fed's rate cut decision this week, takeaways from Fed Chair Powell's commentary, post-election outlook for the Fed, and more.

Persons: Roger Ferguson, takeaways Organizations: Roger Ferguson Former Federal, Fed

☆ Fed cuts rates again, but Trump's tariff plan sparks inflation fears and market uncertainty
▼ + stars: | 2024-11-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, the Fed cutting interest rates yesterday was never really in doubt . Additional rate cuts aren't as clear, though, as Donald Trump's proposed widespread tariffs could slow down the Fed's plans . The market is indicating inflation could lead the Fed to keep borrowing rates high. AdvertisementGreg McBride, chief financial analyst at Bankrate.com, told Insider Today that Fed Chair Jerome Powell didn't indicate a pause in cuts was coming in December during Thursday's press conference.

Persons: —, MANDEL NGAN, Chelsea Jia Feng, Donald Trump's, Paul Krugman, It's, Chip Somodevilla, Greg McBride, Jerome Powell didn't, Powell, McBride, There's, Dominique Lapointe, Lapointe, Trump, ANGELA WEISS, Morningstar, Trump's, Dave Sekera, Goldman execs, Goldman Sachs, David Solomon, Donald Trump, Jenny Chang, Rodriguez, Elon Musk, David Zaslav, Zaslav, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Getty Images, BI, Federal Reserve, Treasury, Fed, Manulife Investment Management, Morningstar, Elon, Trump, Keystone State, Big Tech's, Walmart, Target, Costco, Big Media, Warner Bros, Discovery, Paramount, Sony Locations: AFP, China, Pennsylvania, New York, London

☆ S&P 500, Nasdaq close at records and extend postelection rally as Fed cuts rates
▼ + stars: | 2024-11-07 | by ( Jesse Pound | Alex Harring | ) www.nbcnews.com time to read: +2 min

The S&P 500 and Nasdaq rose Thursday, extending Wall Street’s rally in the wake of President-elect Donald Trump’s victory, as traders weighed the latest rate cut from the Federal Reserve. The S&P 500 gained 0.74% to close at a record high of 5,973.10. The S&P 500 jumped 2.53% for its best post-election day in history. Those big swings were the backdrop for the Federal Reserve’s interest rate cut Thursday afternoon. “The balance of risks gives the Fed ample room to lower the Fed Funds rate well into 2025.

Persons: Donald Trump’s, Trump’s, Jerome Powell, ”, Jamie Cox, Trump, Tony Roth, we’ve, ” Roth, JPMorgan Chase Organizations: Nasdaq, Federal Reserve, Dow Jones, Dow, Treasury, Harris Financial, Wilmington Trust, “, Big Tech, Apple, Nvidia, JPMorgan, American Express Locations: Wilmington

Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No." Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. Representatives for Trump did not immediately respond to a request for comment.

Persons: Jay Powell, Donald Trump, Powell, Trump, readying, ” Trump, Scott Bessent, Kevin Warsh Organizations: Federal, Trump, Bloomberg, Chicago Economic, Reuters, CNN, NBC News, CNBC

☆ New 'Star Wars' trilogy in the works from Lucasfilm
▼ + stars: | 2024-11-07 | by ( ) www.nbcnews.com time to read: +2 min

Lucasfilm is developing a new “Star Wars” trilogy with Kinberg set to write and produce the three films with studio chief Kathleen Kennedy. This will begin a new series after “Star Wars: The Rise of Skywalker,” starring Daisy Ridley, John Boyega, Adam Driver and Oscar Isaac, concluded the original nine-chapter “Skywalker Saga” in 2019. Disney currently has Jon Favreau’s “The Mandalorian & Grogu,” a continuation of the Disney+ series about the helmet-wearing bounty hunter (played by Pedro Pascal), on the calendar for May 22, 2026 along with two untitled “Star Wars” movies set for Dec. 18, 2026 and Dec. 17, 2027. Lucasfilm has several other “Star Wars” projects in the works — from filmmakers such as James Mangold, Sharmeen Obaid-Chinoy, Taika Waititi and Donald Glover — but it’s ambiguous which of these will be the first to hit the big screen. He’s also attached as a producer on Paramount’s next “Star Trek” movie from director Toby Haynes.

Persons: “, Simon Kinberg, Kinberg, Kathleen Kennedy, ”, Daisy Ridley, John Boyega, Adam Driver, Oscar Isaac, George Lucas, Mark Hamill, Luke Skywalker, Harrison Ford, Han, Carrie Fisher, Princess Leia, Disney, Jon Favreau’s “, Pedro Pascal, James Mangold, Sharmeen, Taika Waititi, Donald Glover —, Patty Jenkins, “ Marvel, Kevin Feige, Mando ”, Boba Fett, Logan, ” He’s, Dave Filoni, Carrie Beck, J.J . Abrams, it’ll, Edgar Wright’s “, Glen Powell, Josh Brolin, He’s, Paramount’s, Toby Haynes Organizations: Lucasfilm, “, Deadline, Disney, Century Fox, Disney Channel, Wars, Force, Paramount

A statue of an eagle is seen on the Federal Reserve building on September 17 in Washington, DC. One of those meetings takes place in November and, coincidentally, kicked off the Wednesday directly right after Election Day. As Fed Chair Jerome Powell has previously vowed, officials don’t take the political calendar into consideration when they make interest rate decisions. Still, this meeting’s proximity to Election Day has put the Fed in an uncomfortable position — whether Powell and his colleagues want to admit it or not. Already, officials have been scrutinized for their decision to begin lowering rates at its last meeting before the election, which took place in September.

Persons: Anna Moneymaker, Jerome Powell, don’t, Powell’s, Powell Organizations: Federal Reserve, Reserve Locations: Washington , DC

Trump and the GOP have denied the tariffs would be inflationary, pointing to Trump’s success in imposing tariffs in his first term without reigniting inflation. Yet those tariffs, at $300 billion on selected Chinese goods, were much more targeted than the $3 trillion worth of blanket tariffs Trump is now expected to propose. And the inflationary environment is different now, too: During Trump’s first term, inflation only briefly ever climbed above 2%. It was Trump who appointed Powell to lead the Federal Reserve in his first term. But Trump has signaled a willingness this year to abandon the long-running principle of maintaining the Fed as an independent body.

Persons: Donald Trump’s, Trump’s, Trump, ’ Anna Kelly, David Seif, Jerome Powell, Powell, ” Trump, ” Seif, Seif Organizations: Federal, Wall, Federal Reserve, Nomura Holdings, Trump, GOP, Republican National Committee, Nomura, Fed, Bloomberg, Chicago Economic, Reuters Locations: China

Several people, including children and college students, have reported receiving racist text messages from unrecognized phone numbers in recent days. CNN has reached out to state officials for additional information on the text messages. “My initial reaction was probably like disbelief, like I thought it was like a joke,” said Jones, who forwarded the text message to her loved ones. “I feel like it’s a spam message (and) I do feel disappointed about the message they’re sending a day after the election,” Burwell said. Officials in Washington, DC, and Virginia told CNN Thursday they are looking into the racist text messages.

Persons: Talaya Jones, ”, “, Jones, ” Jones, Sam Burwell, ” Burwell Organizations: CNN, FBI, Justice Department, ”, Montgomery County Public Schools, WVEC, Federal Communications Commission Locations: Maryland , New Jersey , Alabama, Michigan, South Carolina, Montgomery County , Maryland, Montgomery, Piscataway , New Jersey, Virginia, Washington ,

☆ Federal Reserve Chair Powell speaks after Fed cut interest rates by a quarter point
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFederal Reserve Chair Powell speaks after Fed cut interest rates by a quarter pointFederal Reserve Chair Jerome Powell shares remarks after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Fed Chair Powell: We have gained confidence we're on the path to 2%
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We have gained confidence we're on the path to 2%Federal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Fed Chair Powell: We believe we can complete inflation task while keeping labor market strong
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We believe we can complete inflation task while keeping labor market strongFederal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Election will not change Fed policy in the near term, Powell says
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElection will not change Fed policy in the near term, Powell saysFederal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Citi needs a white knight. Donald Trump's second term might provide one.
▼ + stars: | 2024-11-07 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump's presidential victory and his promise of light regulation could help relieve one of Citi's biggest problems. Wells Fargo analyst Mike Mayo called Trump's win a "regulatory game changer" in a research note. For instance, the OCC has required Citi to submit plans each quarter to ensure they are allocating enough resources to the Transformation effort. AdvertisementSince the July fines, Citi has faced mounting pressure. A few weeks later, Fraser was dogged by questions in an earnings call about the bank's regulatory fate.

Persons: hasn't, Donald Trump's, bode, Jane Fraser, —, Wells, Mike Mayo, Trump, Michael Hsu, Jerome Powell, Stephen Biggar, Sen, Elizabeth Warren, Fraser, Vivek Juneja Organizations: Citi, Service, Wednesday, Federal Reserve, Currency, Trump's, OCC, Economic, of New, Republican, Argus Research Locations: of New York

☆ Powell says he would not resign as Fed chief if Trump asked for his resignation
▼ + stars: | 2024-11-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

President Donald Trump looks on as his nominee for the chairman of the Federal Reserve Jerome Powell takes to the podium during a press event in the Rose Garden at the White House, November 2, 2017 in Washington, DC. Federal Reserve Chairman Jerome Powell said Thursday that he will not step down if President-elect Donald Trump asks for his resignation. Trump appointed Powell in 2017, but repeatedly lashed out against the central bank chief during his first term as president, arguing Powell was not easing monetary policy quickly enough. Trump said in October interview that the president should be able to weigh in on interest rate decisions. As Covid-19 swept the nation in March 2020, Trump claimed the authority to remove Powell from office.

Persons: Donald Trump, Jerome Powell, Trump, Powell Organizations: Federal, White House, Bloomberg News, Chicago Economic Locations: Washington , DC

☆ Stock futures are little changed as Wall Street looks to extend postelection rally: Live updates
▼ + stars: | 2024-11-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during the morning trading on November 07, 2024 in New York City. U.S. stock futures hovered near the flatline Thursday night after the S&P 500 and Nasdaq Composite hit records in a postelection rally and investors weighed the Federal Reserve's latest interest rate cut. S&P 500 futures and futures tied to the Dow Jones Industrial Average added just 0.03% and 0.05% each. The moves higher continue the market rally from Wednesday in the wake of President-elect Donald Trump's victory, during which the Dow and S&P 500 rose to their best days since November 2022. The postelection surge put all three of the major averages are on pace for strong weekly gains, with the S&P 500 up about 4.3% and the Dow higher by nearly 4%.

Persons: Dow, Donald Trump's, Jerome Powell, Scott Helfstein, Trump Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Dow, Global, Republican, Fed Locations: New York City . U.S, Thursday's

☆ Fed Chair Powell on whether the president has the power to fire him: 'Not permitted under the law'
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell on whether the president has the power to fire him: 'Not permitted under the law'Federal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Federal Reserve cuts interest rates by a quarter point
▼ + stars: | 2024-11-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

watch nowThe Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to rightsize monetary policy. Among them was an altered view in how it assesses the effort to bring down inflation while supporting the labor market. The statement slightly downgraded the labor market, saying "conditions have generally eased, and the unemployment rate has moved up but remains low." Generally, the labor market has held up well. An acceleration in economic activity under Trump could persuade the Fed to cut rates less, depending on how inflation reacts.

Persons: Michelle Bowman, Jerome Powell, nonfarm, Donald Trump, Trump, Powell, Pace Organizations: Federal Reserve, Federal, Committee, Gross, Atlanta Fed, Trump Locations: Tuesday's

☆ Powell: We expect there to be bumps in the economic data
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell: We expect there to be bumps in the economic dataFederal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Gold hits over 3-week low as dollar gains on Trump win; Fed verdict looms
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: +2 min

A one-kilogram gold bar sits at Gold Investments Ltd. bullion dealers in this arranged photograph in London, U.K., on Wednesday, July 29, 2020. Gold prices touched a more than three-week low on Thursday, as the dollar strengthened after Donald Trump's win in the U.S. presidential election, while focus was also on the Federal Reserve's interest rate decision later in the day. Spot gold fell 0.1% to $2,656.34 per ounce, as of 0327 GMT, after hitting its lowest level since Oct. 15 earlier in the session. Bullion hit a record high of $2,790.15 last week and has lost more than $130 since then. Still expect prices to hit $3,000 next year," said Peter Fung, head of dealing at Wing Fung Precious Metals.

Persons: Donald Trump's, Bullion, Trump, Kelvin Wong, OANDA's, Peter Fung Organizations: Gold Investments, U.S, Asia Pacific, Metals Locations: London, Asia

☆ Fed Chair Powell: We're aiming for inflation to be at 2%
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We're aiming for inflation to be at 2%Federal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, We're, Jerome Powell Organizations: Central Bank

☆ Fed Chair Powell: We aim to balance a strong labor market with progress on inflation
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We aim to balance a strong labor market with progress on inflationFederal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Fed Chair Powell stands firm amid questioning about whether Trump will push him out
▼ + stars: | 2024-11-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Reporters asked Fed Chair Jerome Powell whether he would resign if President-elect Trump asked him to. Powell responded with one word: "No." Trump has been critical of Powell, but the law does not permit a president to fire a Fed official without cause. AdvertisementFederal Reserve chair Jerome Powell has no plans to leave the central bank prematurely under President-elect Donald Trump. "We don't guess, we don't speculate, and we don't assume," Powell said.

Persons: Jerome Powell, Trump, Powell, —, Donald Trump, Biden, Joe Biden Organizations: Service, Federal, Market, Trump, Fed, Street, Bloomberg, Federal Reserve, Congress

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