Fed, Powell and Donald Trump
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1don MSN
WASHINGTON (AP) — After months of criticizing Federal Reserve Chair Jerome Powell, President Donald Trump took the fight to the Fed’s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project. Powell pushed back, challenging the president’s latest price tag as incorrect.
Analysts see signs of a shift toward easing—possibly beginning in September—but with no guarantees offered after this week's meeting.
1don MSN
But this week all eyes will be on Powell as he holds a solo press conference Wednesday that will be must-watch TV amid the political drama.
45mon MSN
Inflation has fallen sharply and as a result Fed officials have signaled they will cut rates by as much as a half-percentage point this year. Yet it has picked up a bit in the last two months and many of those policymakers, including Powell, still want to make sure that tariffs aren’t going to lift inflation much higher before they make a move.
3don MSN
Donald Trump is rarely fact-checked by his own appointees on camera. Federal Reserve Chairman Jerome Powell did it anyway.
Eyes were closed, heads were shaking and backs were slapped. The nonverbal cues at the president's visit to the Federal Reserve are worth another look.
President Donald Trump visited the Federal Reserve headquarters in Washington Thursday, where he publicly scorned Fed chairman Jerome Powell over the costs of a long-planned, roughly $2.5 billion renovation project.
Rather than owning up to the insult he hurled at the Fed chair just last week, the president slunk away without a word.