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Search resuls for: "reappoint Powell"


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Why the Fed is stressed about presidential elections
  + stars: | 2024-07-10 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
New York CNN —Federal Reserve Chair Jerome Powell sent investors mixed messages on Tuesday during his semiannual testimony to Congress. Powell is stressed about the election: Powell was asked by multiple senators about White House politics, which he dodged. While the Fed head noted that policy decisions are data dependent, “elevated inflation is not the only risk we face,” he said. The September Fed meeting will be “live”: Powell noted multiple times that every Fed policy decision is made “live” using the latest available economic data – in other words, decisions aren’t made in advance. About 75% of investors think the Fed will cut rates, and about 25% think they’ll remain the same.
Persons: Jerome Powell, Powell, , Donald Trump, reappoint Powell, , Joseph Brusuelas, Trump, Gregory Daco, Chris Larkin, Morgan Stanley, Larkin, don’t, aren’t, David Rubenstein, he’ll, Airbnb, Isabelle Chapman, Majlie, Puy Kamp, Audrey Ash, Chris Isidore . Organizations: CNN Business, Bell, New York CNN — Federal, White, , Reserve, RSM, Federal Reserve, US Consumer, Treasury, Fed, Economics, Washington DC, Jackson, CNN, Boeing, Alaska Airlines Locations: New York, Powell, Washington, Alaska
Fed officials have said they will begin to cut rates whenever they have “gained enough confidence” that inflation is under control. The Bank of Japan announces its latest interest rate decision. The Reserve Bank of Australia announces its latest interest rate decision. The Federal Reserve announces its latest interest rate decision and releases a fresh set of economic projections, followed by a news conference featuring Chair Jerome Powell. The Bank of England announces its latest interest rate decision.
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What a Trump 2.0 Economy Would Look Like
  + stars: | 2024-03-15 | by ( Tim Smart | ) www.usnews.com   time to read: +10 min
Overall, the Biden economic plan draws less than favorable reviews from voters. So, too, are promises of more tax cuts and a sharp curtailment of immigration. Trump was upset in 2019 that Powell was not doing enough to lower interest rates and stimulate the economy. The Trump tax cuts are set to expire in 2025, giving a second Trump administration the opportunity to fight that battle again. “A Trump 2.0 presidency would inherit very large fiscal deficits from the Biden Administration, rising interest expenses and an economy probably more prone to bouts of inflation,” the report said.
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Trump Would Not Reappoint Powell as Fed Chief
  + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +2 min
(Reuters) - Former President Donald Trump said he would not reappoint Federal Reserve Chair Jerome Powell if Trump wins this year's presidential election, the Republican frontrunner told Fox Business in an interview aired Friday. "No I wouldn't," Trump said in response to a question on whether he would reappoint Powell, whose second four-year term as chair will expire in 2026. Trump said he believes Powell is going to lower interest rates to help President Joe Biden's prospects for re-election. "I think he’s going to do something to help the Democrats, if he lowers interest rates,” Trump said. Biden, a Democrat who beat Trump in the 2020 White House race, reappointed Powell to a second term in 2021.
Persons: Donald Trump, Jerome Powell, Trump, reappoint Powell, Powell, Joe Biden's, ” Trump, Biden, Dan Burns, Doina, Chizu Nomiyama Organizations: Reuters, Trump, Republican, Fox Business, White, Fed Locations: U.S, Iranian, Suez, Asia, Europe, South Africa
On a Friday morning interview with Fox News, Trump criticized Federal Reserve Chair Jerome Powell's handling of the economy, particularly regarding interest rates. "I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates," Trump said, adding that "it looks to me like he's trying to lower interest rates for the sake of maybe getting people elected." While the committee's Summary of Economic Projections in December penciled in three interest rate cuts for this year, Powell said on Wednesday that it's highly unlikely those cuts will take place at the next meeting in March. The jobs data on Friday will support a decision to delay rate cuts until after March — the US economy beat expectations by adding 353,000 jobs. However, some Democratic lawmakers have been urging Powell to consider cutting interest rates sooner rather than later to give Americans financial relief.
Persons: Donald Trump's, Trump, Jerome Powell's, Powell, reappoint Powell, Elizabeth Warren, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse Organizations: Service, Fox News, Federal
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