The Latest Breaking News from Jerome Powell

Even if Fed chairs see a market that’s overvalued, that doesn’t mean a crash is near.

On Saturday, President Donald Trump shared a cartoon on Truth Social showing him firing Federal Reserve Chair Jerome Powell. In the image, Trump is seen pointing at Powell and shouting, “YOU’RE FIRED!” while Powell stands with a box of his things.

The U.S. economy closed the second quarter with a final GDP growth rate of 3.8% — its strongest performance since the third quarter of 2023 and above the long-term average pace.

Shares of Rocket Lab Corp (NASDAQ: RKLB) are trading marginally lower Friday. This week’s volatility was largely attributed to cautious remarks from Federal Reserve Chair Jerome Powell and rising oil prices, creating a risk-off sentiment that has impacted growth sectors, including aerospace.

U.S. economic data keeps coming back stronger than expected, and frankly it’s raining on the parade for markets.

While Trump did not provide a legal justification for the tariffs, he appeared to stretch the bounds of his role as commander-in-chief by stating on Truth Social that the taxes on imported kitchen cabinets and sofas were needed “for national security and other reasons".

For months, Donald Trump has badgered the US Federal Reserve and its chair, Jerome Powell, to lower interest rates. When the governors of the Fed did so by 0.25 percentage points in mid-September to a target of between 4% and 4.25%, it wasn’t big or fast enough for Trump.

The influence of Jerome Powell over the stock market may be fading fast as investors begin to pay closer attention to the voices likely to shape the Federal Reserve’s next era—especially those on President Donald Trump's shortlist of potential replacements.

And four of these key metrics hit record highs. “Buying stocks at these multiples feels bad,” Savita Subramanian says.

The longer the period between crises, the greater the complacency. That complacency is pushing share prices ever-higher, says Guardian columnist Larry Elliott

In naming Miran to the Fed’s seven-member board, President Trump has ignited a firestorm over mixing politics with economic policy.