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The Latest Breaking News from Jerome Powell

Here's What Happens to the Economy if Trump Fires Jerome Powell and Installs a Loyalist at the Fed

The Fed should be replaced by free markets, not unbridled presidential power.

Reason

Trump picks top economic aide Stephen Miran for Federal Reserve board

Miran will take the spot vacated by Adriana Kugler if his appointment is approved by the Senate.

Euronews

Elizabeth Warren Has 'Tough Questions' For Trump's Fed Board Pick, Calls Stephen Miran Chief Architect Of 'Chaotic Tariff Policy'

Sen. Elizabeth Warren (D-Mass.) said Thursday she has "tough questions" for Stephen Miran after President Donald Trump announced he would nominate the White House's top economist to a short-term seat on the Federal Reserve's Board of Governors.

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

Trump's Pick For Fed Chair: Christopher Waller Emerges As Frontrunner

Federal Reserve Governor Christopher Waller is now seen as the frontrunner to replace Jerome Powell as the next Fed chair, according to sources close to the Trump team.

Benzinga

Top economist says Trump's Fed pressure may not be felt for years: 'You can appear to get away with a lot while you’re actually doing a lot of damage'

Francis Fukuyama warns Trump’s moves could erode institutional independence—and business leaders won’t feel it until it’s too late.

Fortune

Markets are near certain of a September rate cut as more presidents turn dovish overnight

Neither president Kashkari nor president Daly—nor governor Cook—dissented at the July meeting. With governor Christopher Waller and FOMC member Michelle Bowman already lobbying for a cut, the ranks of the dovish are growing by the day.

Fortune

Stock Market Today: US Futures Rise Amid Russia Peace Talk Update—Investors Await Eli Lilly, Block Earnings (UPDATED)

Editor's Note: This story has been updated to include the latest economic data and futures figures.

Benzinga

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Another Fed Official Backs A Rate Cut—Goldman Sees Trouble Ahead If The Fed Waits

The July Federal Reserve meeting may go down as the most divided in over three decades, as two key board members, Michelle Bowman and Christopher Waller, broke ranks by voting for a rate cut, while Chair Jerome Powell and the majority held rates steady.

Benzinga

Who’s on Trump’s short list for Jerome Powell’s replacement

Trump confirmed Treasury Secretary Scott Bessent declined the role, saying, “I want to work with you,” while market-watchers weigh how each candidate could impact Fed independence and dollar strength.

Fortune

Trump Positions JD Vance As 'Most Likely' MAGA Successor, Teases Marco Rubio Partnership: 'In All Fairness'

President Donald Trump has suggested that Vice President JD Vance might be the next in line to carry forward the Make America Great Again (MAGA) movement.

Benzinga

Trump narrows Fed chair candidates to four, excluding Treasury Secretary Bessent

Trump said in an interview with CNBC that he had removed Treasury Secretary Scott Bessent from consideration for Fed chair because Bessent wanted to remain in his current role.

Euronews

Trump says four candidates in running for Fed chair, rules out Bessent

US president says the Treasury secretary wishes to stay in his current role.

Al Jazeera

UBS sounds the alarm on 'stall speed' as the economy shows signs of running out of gas

It's not an immigration or population shock—fewer people are working, amid shorter hours and lower demand. “The drop in the labor force participation rate has masked how much slackening is actually taking place."

Fortune

Trump Slams 'Rigged' Jobs Data After Firing BLS Chief, Mentions Two Possible Fed Chair Picks

Just days after firing Bureau of Labor Statistics Commissioner Erika McEntarfer, President Donald Trump reignited criticism of the agency, accusing it of publishing "rigged" employment data to favor Joe Biden during the 2024 election.

Benzinga

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The Independent UK

Trump team looking to Joe Rogan for help amid lingering Epstein-Ghislaine Maxwell fallout, report says

Vice President JD Vance denied strategy dinner he was set to host with Justice and FBI leadership was about handling of ongoing Jeffrey Epstein case

The Independent UK

‘Give me a break’: Trump says he hired Fed chair Powell as a ‘favor’ after CNBC host presses him on labor bureau firing

Trump defended his recent decision to fire head of BLS while distancing himself from his past decision to hire Fed chair Jerome Powell

Fortune

Bessent won’t replace Powell as Fed chair, Trump says: ‘I love Scott, but he wants to stay where he is’

The Treasury secretary has said he has “the best job in Washington,” although he has often been floated as a name for the top job at the central bank.

Roll Call

Trump signals higher tariffs, defends firing of BLS chief in combative CNBC interview - Roll Call

A defiant President Trump defended his firing of a top government jobs monitor and said he would like to run again in 2028.

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news in one place.

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The Guardian - US

I was the US labor secretary. Trump’s latest firing undermines a key agency

The firing of Erika McEntarfer, head of the Bureau of Labor Statistics, destroys the credibility of essential information

Fortune

Top analyst says the next 5 years could see 'no growth in workers at all' and sends a warning about the fate of the U.S. economy

Investors may want to think twice about betting broadly on a “strongly rising U.S. economic tide,” JPMorgan’s David Kelly writes. Same with lower interest rates.

International Business Times

Stocks Rebound On US Rate Cut Bets

Most stock markets bounced on Monday on hopes of US interest rate cuts after weak jobs figures raised concerns about the world's top economy.

The Guardian - US

Now is the time for Democrats to hammer Trump on the economy

With inflation and unemployment rising, Democrats must speak out – and show they care about the average voter

Reason

Firing the Data-Collectors

Plus: IVF about-face, Corporation for Public Broadcasting to shut down, and more...

MarketBeat

Consider This Bank ETF Before The Fed Cuts Rate This Fall

The financials sector has been strong all year, and with interest rate cuts on the table later this year, investors looking for exposure can turn to this ETF.

Fortune

Labor department's data upset may have sealed the deal for a base rate cut

The resignation of FOMC member Adriana Kugler also opens the door for a more dovish Fed shift.

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