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The Federal Reserve's political independence- the sense that the world's most powerful central bank makes decisions based on economic conditions, not short-term political considerations- is a critical national asset. Now, the administration's attacks on Chair Jerome H. Powell are escalating: White House budget adviser Russell Vought blasted Powell on…

PORT ANGELES— Business loans First Fed Bank made to an Everett- based company that was selling water vending machine franchises starting in 2020 were the start of a relationship that could end up in King County Superior Court next year. In a June 13 U.S. Securities and Exchange Corporation filing, First Fed strongly disputed the accusations and said it would "…

The U.S. dollar's status as the world's premier currency could be at risk if the Federal Reserve intervenes in the bond market to curb rising interest rates, warns Fidelity's Jurrien Timmer. What Happened: With the soaring U.S. debt, Timmer's analysis, shared on X, suggests that the Fed’ s interference in the bond markets might erode the dollar's“ supremacy.” This…

Senate Republicans are warning President Trump that it would be a big mistake to follow through on his threat to fire Federal Reserve Chair Jerome Powell, saying it would likely send a "shock wave" through the financial markets and roil the broader economy. GOP senators, including lawmakers closely allied with Trump, warn that any move to oust Powell would…

Amy Klobuchar said rural radio stations will go out of business as a result of cuts to public broadcasting included in a bill the Senate is now debating. And President Trump adviser Peter Navarro said Federal Reserve Chair Jerome Powell is the worst to ever hold his position, as reports emerged that Trump has told GOP lawmakers he may fire the central bank chief.

The president is supposed to fire a Federal Reserve chairman only for cause, and now Donald Trump has it. An obstinate Jerome Powell is holding interest rates artificially high as he constructs a palace for himself. Then, in mid-September, Mr. Powell made a massive in-kind contribution to the Kamala Harris campaign by slashing interest rates by half, stimulating…

—A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts. Christopher Waller, a member of the Fed's governing board, said in a speech in New York City that the…

—Federal Reserve Chair Jerome Powell on Thursday said the agency's renovation of two of its buildings is in compliance with plans approved by a local commission, disputing a White House suggestion that they may have violated the law by deviating from those plans. The letter is the lastest salvo in an escalating battle between the Federal Reserve, an…

2025 JUL 17– By a News Reporter-Staff News Editor at Robotics& Machine Learning Daily News Daily News– Current study results on Machine Learning have been published. Our news journalists obtained a quote from the research from the Federal Reserve Bank of Boston,“ To explain loan outcomes, this analysis accounts for the economic conditions faced by a borrower…

Republican lawmakers are split over whether President Trump should fire Federal Reserve Chair Jerome Powell, with some pushing him to nix the central bank head and others encouraging him to be patient. Trump indicated to some lawmakers that he plans to fire Powell during an Oval Office meeting Tuesday evening, a White official and a second source told The Hill.

Senate Republicans are warning President Trump that it would be a big mistake to follow through on his threat to fire Federal Reserve Chair Jerome Powell, saying it would likely send a "shock wave" through the financial markets and roil the broader economy. GOP senators, including lawmakers closely allied with Trump, warn that any move to oust Powell would…

2025 JUL 17– By a News Reporter-Staff News Editor at NewsRx COVID-19 Daily– Researchers detail new data in Coronavirus- COVID-19. Our news editors obtained a quote from the research from the Federal Reserve Bank of Philadelphia,“ This paper uses recent loan data, including that from the Covid-19 pandemic period, and finds that a proprietary loan rating system…

Big economic factors contributed to the slowdown: A surge in inflation, arising from the unexpectedly strong economic recovery from COVID-19, raised factory expenses and prompted the Federal Reserve to raise interest rates 11 times in 2022 and 2023. But the factory investment spree has faded as the incoming Trump administration launched trade wars and,…

Wells Fargo& Co. reported Tuesday another in a series of steady-as-you-go financial performances for the second quarter as the bank emerges from the Federal Reserve's final consent order. Diluted earnings were $1.60 a share, up from $1.39 in the first quarter and from $1.33 a year ago. It is Wells Fargo's first quarterly report since the Fed's June 3 decision…

Trump confirmed that in a White House meeting Tuesday night with about a dozen House Republicans he had discussed the "concept" of dismissing Powell, long a target because of his refusal to lower interest rates as Trump wants. He indicated he was leaning in that direction, according to a White House official. In recent days, White House and administration…

The House advanced a trio of cryptocurrency rules as it set a new record Wednesday for the longest vote ever held in the chamber in history. The three bills in question include the Genius Act, which the Senate already passed in June, the Clarity Act and a third bill that would prevent the Federal Reserve from establishing a central bank digital currency.

–President Donald Trump denied reports Wednesday that he plans to fire Federal Reserve Chairman Jerome Powell, but said he wouldn't rule it out completely. Trump said Tuesday that overruns on a Federal Reserve office renovation project could lead to Powell's ouster. "Playing around with the Fed could have adverse consequences, the absolute opposite of what…

–President Donald Trump knows who he will pick to lead the Federal Reserve when Chairman Jerome Powell's term is up: Someone who will lower interest rates. The Senate confirms that pick. Republicans control both the House and Senate by slim majorities.