Federal Reserve

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Trump Drops Big Hint on Choice for New Fed Chair

He said he was looking at 'two Kevins,' then appeared to rule one (Hassett) out

(Newser) - President Trump told Reuters on Wednesday that the "two Kevins," National Economic Council Director Kevin Hassett and former Federal Reserve Governor Kevin Warsh, were his leading choices to replace Jerome Powell as Fed chairman. He may have narrowed it down to one Kevin. At a White House event...

Jim Cramer: 'Only a Hack' Would Take Fed Post Now

CNBC host slams the Justice Department's investigation into Jerome Powell

(Newser) - Count CNBC's Jim Cramer as among those critical of the Justice Department's new criminal investigation of Fed chief Jerome Powell. "I think only a hack would want the job now," Cramer said on the network's Squawk on the Street show, reports the Hill . Cramer is...

Pirro Didn't Give Bosses a Heads Up Before Powell Move

Federal prosecutor in DC defends her controversial investigation

(Newser) - Jerome Powell isn't the only person under scrutiny because of the newly launched Justice Department investigation . The federal prosecutor who made the surprise move—former Fox News host Jeanine Pirro—is also very much in the spotlight. Coverage:
  • Pirro, the US attorney for DC since August , did not give
...

Treasury Chief Reportedly Sees Powell Inquiry as a 'Mess'

Scott Bessent said to be upset, while GOP Sen. Tim Scott, a key figure, remains silent

(Newser) - The Department of Justice's move against Fed chief Jerome Powell isn't getting much love, with prominent GOP senators and every living former Fed chief coming out against it. Even President Trump has distanced himself from the criminal investigation. Now Axios is reporting that another big name is angry...

DOJ's Criminal Probe of Fed Chair Not Going Over Well

GOP senators warn probe risks Fed independence, market stability, confirmations

(Newser) - Senate Republicans are lining up behind Jerome Powell, supporting the Fed chair in the face of a Justice Department probe . GOP senators are sharply questioning the criminal investigation into Powell's congressional testimony about renovation costs at the Fed's headquarters, warning it risks undermining the central bank's independence...

Former Federal Reserve Chiefs Warn About Powell Probe

Bernanke, Greenspan, and Yellen say inquiry imperils Fed autonomy and market stability

(Newser) - Every living former chair of the Federal Reserve has broken with tradition to warn that a Justice Department criminal probe of current Fed chief Jerome Powell could blow a hole in the central bank's independence. In a joint statement, former Fed leaders Ben Bernanke, Alan Greenspan, and Janet Yellen...

Move Against Fed's Powell Has Potential to Backfire
Fed's Powell Usually Held
His Fire. That's Over Now
the rundown
Jan 12, 2026 10:13 AM CST

Fed's Powell Usually Held His Fire. That's Over Now

Central bank chairman apparently wants this fight to play out in public

(Newser) - The financial world was in a wary mood on Monday over Federal Reserve chief Jerome Powell for two reasons: One was the unprecedented move by the Justice Department to launch a criminal investigation against him, and the second was Powell's unusually aggressive response. Coverage:
  • Trump: President Trump denied any
...

DOJ Opens Criminal Probe Into Jerome Powell

Fed chief says inquiry is pressure to lower interest rates

(Newser) - Federal Reserve chief Jerome Powell says the Justice Department has opened a criminal investigation into him, and he's framing it as a direct threat to the central bank's independence, the Washington Post reports. The probe centers on the Fed's costly renovation of its Washington headquarters and Powell'...

Trump Threatens Lawsuit Against Fed Chair
Trump Threatens
to Sue Fed Chair
Dec 30, 2025 1:00 AM CST

Trump Threatens to Sue Fed Chair

He once again accuses Jerome Powell of incompetence over building renovation costs

(Newser) - President Trump is again talking about taking Jerome Powell to court. The POTUS told reporters Monday he's "thinking about bringing a suit" against the Federal Reserve chair, accusing him of "gross incompetence" over renovation costs at the Fed's Washington headquarters, the Hill reports. "These aren'...

The Public Figure With Highest Approval May Be a Surprise
The Public Figure
With Highest
Approval May
Be a Surprise
in case you missed it
Dec 27, 2025 12:10 PM CST

The Public Figure With Highest Approval May Be a Surprise

Jerome Powell at 44% is ahead of all other political, economic, judicial leaders in Gallup poll

(Newser) - A year-end poll by Gallup finds that the nation is in a "gloomy" mood, as the polling outfit puts it. Worries about finances are driving that, and people apparently aren't too confident leaders will make things right. Nobody on a list of 13 political, economic, or judicial figures...

Silver Hits $77 as Gold, Platinum Reach Record Highs

(Newser) - Silver just blew past a milestone that may have sounded far-fetched only a year ago. Spot silver surged 7% Friday, to about $77.12 an ounce, its highest level ever and up roughly 167% so far this year, reports CNBC . Analysts link the spike to tight supplies, strong investment, and...

Divided Fed Cuts Rates Again
Divided Fed
Cuts Rates Again
Dec 10, 2025 1:11 PM CST

Divided Fed Cuts Rates Again

'Uncertainty about the economic outlook remains elevated,' central bank says

(Newser) - The Federal Reserve cut its key interest rate for the third time in a row on Wednesday, bringing it down another quarter-point to around 3.6%.
  • "Available indicators suggest that economic activity has been expanding at a moderate pace," the central bank said in a statement. "Job
...

First, a Goodbye to the Penny. Now, Maybe the Checkbook?

Federal Reserve considers nixing paper checks for good; public asked to weigh in as check use falls

(Newser) - The Federal Reserve is considering phasing out paper checks, a move that could make checkbooks as outdated as pennies. The central bank has asked the public to weigh in over the next 90 days on whether to sharply scale back or even end check-processing services. The reason: Americans are writing...

Amid Data Blackout, Fed Is Set to Cut Rates Again

It will be the third rate cut this year, carried out during a slowing job market

(Newser) - The Federal Reserve is widely expected to cut interest rates on Wednesday for the third time in 2025, with market watchers predicting a modest reduction of 0.25%, reports NBC News . The AP notes that such a move would bring the Fed's key rate down to about 3.6%,...

Trump Threatens to Fire His 'Voice of Reason'

President tells Treasury Secretary Scott Bessent to get rates down, or else

(Newser) - President Trump has publicly warned Treasury Secretary Scott Bessent that his job is on the line if the Federal Reserve doesn't bring down interest rates soon. Speaking at a US-Saudi investment forum in Washington, Trump told Bessent, "If you don't get it fixed fast, I'm going...

October Unemployment Rate Will Remain a Mystery

The government shutdown prevented all the data from being collected, agency says

(Newser) - The Labor Department still promises that its report on hiring and unemployment in September will be released on Thursday , but the next one is problematic. The government shutdown prevented the collection of data needed to figure the unemployment rate and certain other measures, the Wall Street Journal reports—information the...

Lisa Cook Fights 'Baseless' Mortgage Fraud Claims

Fed governor's lawyer calls the allegations politically motivated

(Newser) - Federal Reserve Governor Lisa Cook is pushing back against allegations of mortgage fraud, calling the claims "baseless" and urging the Justice Department to drop its investigation. In a letter to Attorney General Pam Bondi and the DOJ's special attorney for mortgage fraud, Cook's lawyer, Abbe Lowell, argued...

Overdue Economic Data May Never Be Released: Leavitt

Federal Reserve, investors, economists brace for uncertainty as jobs, inflation reports are shelved

(Newser) - The White House warned Wednesday that key economic data for October that's been delayed, including the monthly jobs report and consumer price index, probably won't be released at all—even after the government shutdown ends. Blaming Democrats, press secretary Karoline Leavitt said the interruption "may have permanently...

Fed Officials Are Torn Over December Rate Cut

The lack of official data hasn't helped matters

(Newser) - A December interest rate cut that traders had viewed as a near-certainty no longer appears guaranteed. Federal Reserve officials are locked in a heated debate over whether to cut interest rates at their last meeting of the year, exposing a rare internal split over the central bank's next move,...

A Riskier Home-Loan Option Is on the Rise

Number of people opting for adjustable-rate mortgages is at its highest level in a few years

(Newser) - The Wall Street Journal reports that a risky mortgage option from the last housing bust is making a comeback: adjustable-rate mortgages. More homebuyers these days are opting for ARMs—loans that start with lower rates than traditional fixed-rate mortgages, but can rise after a set period, according to stats from...

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