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How Trump could radically reshape the Fed
CNN
The Federal Reserve kicked off its second Trump era right where it left off: Doing exactly what it wanted to do, ignoring President Donald Trump’s demands that it lower rates.
The Federal Reserve kicked off its second Trump era right where it left off: Doing exactly what it wanted to do, ignoring President Donald Trump’s demands that it lower rates. As you’d expect, the move was poorly received by the president. Hours after the Fed announced its decision to hold rates steady on Wednesday, Trump, who nominated Fed Chair Jerome Powell in his first term, accused Powell and his colleagues of failing “to stop the problem they created with Inflation,” he wrote in a post on Truth Social. Although Trump has danced around the issue of whether he’ll fire Powell or work to gain direct control of interest rate decisions, both of which Powell has said is illegal, Trump’s latest clash with the Fed reopens the door to a radical possibility that the central bank, as most have come to know it over the last few decades, could be turned on its head. The decision not to lower rates further came after the Fed slashed its key interest rate by a full percentage point over its prior three meetings last year, right before Trump took office. On the campaign trail and since taking office, Trump has not only advocated for lower interest rates but said he’ll “demand that interest rates drop immediately,” he told attendees of the World Economic Forum last week.
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Trump says DOGE could return 20% of its savings directly to taxpayers. That could reignite inflation
President Donald Trump said he is considering a plan that would give 20% of savings identified by Elon Musk’s Department of Government Efficiency (DOGE) back to Americans, potentially complicating the country’s ongoing battle with elevated inflation.
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President Donald Trump’s administration wants to roll back virtually all of former President Joe Biden’s policies. So it may come as a surprise that the Trump administration is keeping a key Biden framework designed to rein in Corporate America. federal regulators’ stricter guidelines around policing major corporate mergers.