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The Latest Breaking News from Jerome Powell

Fed minutes: Officials deeply divided over future path of US inflation

A Federal Reserve rate-setting committee agreed to keep its key rate unchanged at its meeting last month, though most officials were split over whether inflation is likely to stay elevated or whether it will cool once the Iran war winds down, according to minutes released Wednesday

The Independent UK

Trump is already causing a headache for his new Fed chairman, saying the central bank's board is 'hostile' and 'doing the wrong thing'

Trump claimed the board is "a little hostile" toward new Fed Chairman Warsh.

Fortune

Trump’s new Fed Chair Kevin Warsh pledges independence while fighting inflation

Warsh served as a member of the Federal Reserve Board of Governors from 2006 to 2011; he was just 35 when President George W. Bush appointed him as the youngest-ever nominee

The Independent UK

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Fed's Warsh: Will decide on rate hike when policymakers 'shut the door' at next meeting

At an international monetary policy forum, Federal Reserve Chair Kevin Warsh stressed the necessity of maintaining a 2% inflation target. He notably refrained from giving any forward guidance on interest rates. Warsh's remarks have sparked debate among economists regarding potential future rate increases, as global central banks adopt varying approaches…

The Economic Times

Trump takes his inflation battle to gas retailers after his Fed plot runs ashore—sets target for $2.50 a gallon

"The retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!"

Fortune

US Supreme Court says Fed's Cook can keep her job for now, but it upholds other Trump firings

The Supreme Court has significantly broadened presidential authority, allowing presidents to dismiss heads of independent federal agencies at will, overturning a long-standing precedent. However, the Federal Reserve remains an exception, with a governor allowed to remain in her post while contesting her dismissal. This ruling grants presidents greater control over…

The Economic Times

Federal Reserve independence secures an important, but not final, victory at US Supreme Court

The Federal Reserve, under pressure from President Donald Trump to cut interest rates and bend to his will, just got an important assist from the U.S. Supreme Court.

The Conversation

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The Supreme Court upholds Fed independence by saving Lisa Cook’s job—and also saves U.S. debt from a crisis

“Not only the fact of independence but also the appearance of independence is key to the Federal Reserve’s design.”

Fortune

US Supreme Court expands presidential powers, backs Trump's firing; Fed's Lisa Cook spared for now

US Supreme Court on Monday upheld President Donald Trump's authority to remove the heads of most independent federal agencies, while making a key exception for the Federal Reserve. The landmark ruling, which significantly expands presidential powers, is being seen as one of the most consequential decisions on executive authority in…

The Times of India

US Supreme Court rejects Trump's unprecedented bid to fire Fed's Cook

The Supreme Court has taken a significant stand for the Federal Reserve's independence, rejecting President Trump's unusual effort to remove Governor Lisa Cook. The ruling highlights that Fed officials are appointed for set terms and can only be dismissed under specific circumstances, ensuring the central bank remains free from political…

The Economic Times

US supreme court rules Trump’s firing of Lisa Cook from Fed was unconstitutional

Justices find president does not have constitutional authority to fire Federal Reserve governor without cause

The Guardian - US

Trump Eases Pressure On Fed Chair Kevin Warsh As Inflation Climbs, Analysis Claims

The Trump administration is giving new Federal Reserve Chair Kevin Warsh more room to navigate elevated inflation, even as President Donald Trump continues to publicly favor lower interest rates.

International Business Times

US Stock Market: Warsh faces crucial week with court ruling, global debut in focus

Federal Reserve Chair Kevin Warsh faces a crucial week. The Supreme Court's decision on Governor Lisa Cook's removal will test the central bank's independence. Simultaneously, Warsh will present his new communication strategy, shifting away from explicit forward guidance, at a major international forum in Portugal. This approach, emphasizing data-driven decisions,…

The Economic Times

Markets hear Greenspan echo as Fed goes quiet

As the world marks the passing of former Federal Reserve Chair Alan Greenspan, who died on Monday aged 100, it's almost fitting that the US central bank is entering a period of "less is more" when it comes to communications -- something the "maestro" himself ‌would have approved of.

Bangkok Post

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The Economic Times

US Stock Market: Warsh to face lawmakers in key semiannual policy testimony on July 14

Federal Reserve Chair Kevin Warsh is set to deliver his inaugural semiannual monetary policy address to Congress on July 14. This crucial appearance will offer insights into the central bank's stance on inflation, interest rates, and the overall economic outlook. Warsh's testimony follows a departure from tradition earlier this year…

Axios

All eyes on Warsh at new Fed chairman's first policy meeting

Kevin Warsh faces a renewed inflation surge, monetary hawks on the policy committee and big questions about how the major changes he advocates in how the Fed works will play out.

The Times of India

New book reveals Trump compared himself to Mao, Stalin, Attila the Hun, called Netanyahu a 'con man'

US President Donald Trump compared himself to some of history's most feared leaders, including Mao, Stalin, Attila the Hun, Genghis Khan, Napoleon and Hitler, revealed in a book published by New York Times reporters in excerpts reported by CNN.

The Guardian - US

Comparison to Hitler, Mao, Stalin? Trump says: ‘Sounds good to me!’

‘Historian’ claims ‘overwhelming difference’ between him and rogues’ gallery of autocrats is that Trump is more powerful

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Fortune

Kevin Warsh showed that he’s decisively not Trump’s ‘sock puppet’—and markets didn’t like it

“That was hawkish Kevin talking,” according to “the Fed whisperer,” Jon Hilsenrath.

AAP

Federal Reserve policymakers show support for rate hikes as Warsh reins in guidance

The Federal Reserve kept its key rate unchanged Wednesday yet nearly half the central bank's policymakers said they could support a rate hike later this year, an unexpectedly aggressive outcome that would disappoint President Trump and suggests heightened concerns about persistent inflation

Euronews

Fed keeps rates unchanged but signals possible hike this year

The Federal Reserve left interest rates unchanged at its first policy meeting under chair Kevin Warsh, but nearly half of policymakers signalled they could support a rate hike later this year as inflation remains elevated.

Fortune

Kevin Warsh's first Fed meeting sees rates hold steady and makes outright promise to deliver price stability—but don't expect many details on when

The Federal Open Market Committee (FOMC) held rates steady at the first meeting chaired by Kevin Warsh.

AAP

Federal Reserve keeps rate unchanged, but nearly half of policymakers would support hike this year

The Federal Reserve kept its key rate unchanged Wednesday yet half the central bank's policymakers said they could support a rate hike later this year, an unexpectedly aggressive outcome that would disappoint President Trump and suggests heightened concerns about persistent inflation

The Guardian - US

Federal Reserve holds rates steady but signals possible hike before year’s end

Open markets committee says ‘economic activity is expanding at a solid pace’ in first meeting under new chair Kevin Warsh

AAP

Warsh to face spotlight as Federal Reserve likely to leave interest rates unchanged

The Federal Reserve will enter the Kevin Warsh era Wednesday, as President Trump's pick to lead the central bank oversees his first policy meeting and holds his first news conference

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