US EditionPublished • loading... • Updated
Trump says he has no plan to fire Fed's Powell despite investigation
Trump says it is too early to decide on firing Powell amid a DOJ probe into $2.5 billion Fed renovation overruns; Powell denies wrongdoing and critics warn of politicizing the Fed.
- On Jan 14, U.S. President Donald Trump said he has no plan to fire Federal Reserve Chair Jerome Powell, calling it `too early` to decide.
- The U.S. Department of Justice opened a criminal investigation into cost overruns on a $2.5 billion renovation project at two historical buildings, which Jerome Powell disclosed on Sunday while denying wrongdoing and calling it a pretext.
- Trump suggested former Fed Governor Kevin Warsh or National Economic Council Director Kevin Hassett as potential successors, ruled out U.S. Treasury Secretary Scott Bessent, and said he will announce a choice over the next couple of weeks.
- Critics say the probe politicizes Fed policy, and some key Senate Republicans, foreign economic officials and investors criticized the investigation, while Trump dismissed criticism and faces a Supreme Court case next week over Lisa Cook, Fed Governor.
- Powell's Fed term ends in May, though he can stay on the Board until 2028, and analysts warn that eroding independence risks undermining the U.S. dollar and inflation.
Insights by Ground AI
29 Articles
29 Articles
Will the US protect the central bank from the whims of Donald Trump?
·Bratislava, Slovakia
Read Full Article
Trump can't just fire Powell – so he sets the Fed boss with criminal investigations, public ridicule and permanent pressure under massive wear and tear.
·Berlin, Germany
Read Full Article
U.S. President Donald Trump has denied planning the early release of Fed boss Powell. He is "galested" by the criticism of the investigation against Powell.
·Germany
Read Full Article
Coverage Details
Total News Sources29
Leaning Left5Leaning Right6Center6Last UpdatedBias Distribution35% Center, 35% Right
Bias Distribution
- 35% of the sources are Center, 35% of the sources lean Right
35% Right
L 30%
C 35%
R 35%
Factuality
To view factuality data please Upgrade to Premium
