President Donald Trump is once again floating the idea of firing Federal Reserve Chairman Jerome Powell, ostensibly in objection to excessively high interest rates. But this debate is not about monetary policy. It's a power play aimed at subordinating America's central bank to the fiscal needs of the executive branch and Congress.
Economic News
Adtalem Global Education and Sallie Mae Sign Letter of Intent to Explore New Student Financing Model
CHICAGO& NEWARK, Del.—- Adtalem Global Education Inc. and Sallie Mae, formally SLM Corporation, today announced they have signed a Letter of Intent to explore alternative financing solutions for healthcare students as the federal Grad PLUS loan program phases out beginning July 1, 2026. According to U.S. Bureau of Labor Statistics projections, healthcare…
TAMPA, Fla.— Credit card debt is reaching new highs in America, and for many, it's not just a financial issue, but a threat to their health, relationships and future. According to the Federal Reserve Bank of New York, U.S. credit card balances hit a record $1.3 trillion in 2025, fueled by rising interest rates, inflation and stagnant wages. For many, it's the slow…
Among central banks, the ECB has emerged as a leader in GMP. This paper argues that the Fed should follow the ECB by implementing GMP, given the central banks’ similar structure, general tools of monetary policy, and monetary policy-related goals. Although the Fed, unlike the ECB, does not have a secondary mandate to support general economic policies including…
In the media, the U.S. Federal Reserve is under siege. President Donald Trump constantly threatens to fire Chair Jerome Powell. The Supreme Court has confirmed that the chair can't be dismissed except "for cause"— a threshold that the renovation-cost overruns the president has cited don't meet.
U.S. stock indexes slipped following the latest discouraging signal on the U.S. economy. A weaker-than-expected report on activity for U.S. services businesses added to worries that President Donald Trump’ s tariffs may be hurting the economy. But hopes for coming cuts to interest rates by the Federal Reserve, along with a stream of stronger-than-expected…
–Sell the AUD/USD pair and set a take-profit at 0.6375.– Add a stop-loss at 0.6600.– Timeline: 1-2 days. The AUD/USD exchange rate pulled back from the year-to-date high of 0.6623 on July 24 to the current 0.6460. These numbers mean that the Federal Reserve will likely start cutting interest rates in the September meeting.
The GBP/USD exchange rate remained under pressure as traders focused on the upcoming Bank of England interest rate decision. Bank of England Interest Rate Decisions. A report by the Bureau of Labor Statistics showed that the economy created just 73,000 jobs, while the unemployment rate rose slightly to 4.2%, a sign that the US economy was slowing.
Friday's weak US jobs data has strongly boosted the probability of the Federal Reserve cutting rates in September, sending stock markets modestly higher. The major story is that stock markets globally are mostly advancing, led higher by Asian indices so far today, because the perceived likelihood of a rate cut by the Federal Reserve at its next meeting in…
—U.S. stock indexes are slipping in mixed trading on Tuesday following the latest discouraging signal on the U.S. economy. But increased hopes for coming cuts to interest rates by the Federal Reserve, along with a stream of stronger-than-expected profit reports from U.S. companies, helped to keep the losses in check. All kinds of companies have been telling…
According to news reporting originating in Xi’ an, People’ s Republic of China, by NewsRx journalists, research stated,“ Central bank digital currency has recently been a hot topic in both theory and practice. Financial supporters for this research include National Postdoctoral Researcher Program of China, Social Science foundation of Shaanxi Province.
Our news journalists obtained a quote from the research from the Federal Reserve Bank of Cleveland,“ A welfare-maximizing policy features wage growth stabilization with variation in the employment gap and inflation. For more information on this research see: Supply Shocks, Employment Gap, and Monetary Policy. European Economic Review, 2025; 177. European…
According to news reporting from San Francisco, California, by NewsRx journalists, research stated,“ Policymakers and researchers, notably in Europe, have expressed concerns that the low-carbon transition may be inadvertently delayed by higher global interest rates. The news correspondents obtained a quote from the research from Federal Reserve Bank,“ We…
Adriana Kugler announced she's stepping down as Federal Reserve governor, giving President Trump a shot at filling the spot. “It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” she wrote in her resignation letter Friday.“ I am especially honored to have served during a critical time in achieving our dual mandate of…
Federal Reserve opts against cutting rates. WASHINGTON— Federal Reserve Chair Jerome Powell gave little indication Wednesday of bowing anytime soon to President Donald Trump's demands that he cut interest rates. The Fed left its key short-term interest rate unchanged for the fifth time this year, at about 4.3%.
WASHINGTON— Federal Reserve Chair Jerome Powell gave little indication Wednesday of bowing anytime soon to President Donald Trump's demands that he cut interest rates. The Fed left its key short-term interest rate unchanged for the fifth time this year, at about 4.3%. SOCIAL SECURITY: Treasury Secretary Scott Bessent said Wednesday that President Donald…
President Trump fumed at Federal Reserve Chair Jerome Powell on Friday morning, urging the central bank board to wrest control from him after he opted again to not lower interest rates this week. Vice Chair of Supervision Michelle Bowman and board Gov. Christopher Waller— who are both in the running for Trump's nomination to replace Powell when his term is up in…
-The recent decision by the Federal Reserve to maintain its key short-term interest rate at approximately 4.3% marks the fifth instance this year where rates have remained unchanged. Even as President Trump persists in advocating for lower borrowing costs, the Federal Reserve, under the leadership of Jerome Powell, opted to hold rates steady.
WASHINGTON— President Donald Trump called for the Federal Reserve's Board of Governors on Friday to usurp the power of Fed Chair Jerome Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates. The Fed has the responsibility of stabilizing prices and maximizing employment. The Fed announced Friday that governor Adriana…
