US EditionTrump says he's not planning to fire Fed's Powell
WASHINGTON, D.C., JUL 16 – Trump criticized Fed Chair Powell's handling of a $2.5 billion renovation and interest rate policy but said firing him is unlikely without fraud evidence, calming markets after initial volatility.
- President Donald Trump said on Wednesday he is not planning to fire Federal Reserve chairman Jerome Powell but discussed the concept.
- Trump's frustration arises from the Federal Reserve's decision to maintain current interest rates throughout the year, despite inflation rising to 2.7% year over year in June.
- Inflation rose 0.3% monthly—the largest increase in five months—with goods and non-housing services prices increasing, partially masked by lower shelter prices.
- Economists including Bill Adams and Stephen Juneau said inflation remains above target and tariffs are driving consumer prices higher, giving the Fed reason to pause on rate cuts.
- The situation suggests the Federal Reserve has room to wait before adjusting rates, while markets expect steady rates at July’s meeting amid ongoing economic uncertainty.
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Dollar dips as Trump denies planning to fire Fed Chair Powell | Honolulu Star-Advertiser
NEW YORK >> The U.S. dollar fell but rose off its lows today after President Donald Trump denied news reports that he is planning to fire Federal Reserve Chair Jerome Powell.
·Honolulu, United States
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Total News Sources53
Leaning Left23Leaning Right5Center15Last UpdatedBias Distribution53% Left
Bias Distribution
- 53% of the sources lean Left
53% Left
L 53%
C 35%
12%
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