Trump is likely to allow Fed chair to serve remainder of his term, adviser says
CNN
President-elect Donald Trump is likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump requesting anonymity to describe private conversations.
President-elect Donald Trump remains likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump who requested anonymity to describe private conversations. The adviser cautioned that Trump could always change his mind, but his present view — and that of Trump’s economic team — is that Powell should remain atop the central bank as it pursues its policy of cutting interest rates. Trump in July told Bloomberg he had intended to keep Powell in his role at least for the duration of his term. Trump appointed Powell, a Republican former private equity executive who served on the central bank’s governing board, to its top spot in 2018. President Joe Biden reappointed him to a second four-year term. Gary Cohn, the Goldman Sachs alum who served as economic policy director during Trump’s first administration, is said to want the job, but former Trump officials have said the fact that Cohn resigned in protest over Trump’s steel tariffs makes it highly unlikely he’d get it. Among the names mentioned by sources in touch with the Trump transition are Kevin Warsh, who served for five years on the bank’s board of governors and advised Trump during his first term; as well as Trump’s former chief economist Kevin Hassett.
President-elect Donald Trump is likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump requesting anonymity to describe private conversations.
Two Jewish students at DePaul University in Chicago who were “visibly showing their support for Israel” were targeted Wednesday by masked attackers, according to a statement from the university’s president.
Democratic Rep. Gerry Connolly has esophagus cancer, the longtime Virginia congressman announced in a statement Thursday.
Powerful winds that fueled fast-moving wildfires across Southern California this week are expected to pick up momentum on Thursday –– worsening conditions for firefighters who are already battling limited visibility to save lives.
Donald Trump’s allies and some in the private sector have been quietly preparing to detain and deport migrants residing in the United States on a large scale, according to four sources familiar with the discussions.
He starts off each day with a cooler full of food and drinks, walking the city’s streets and subway system handing them out until it’s empty. Today’s impact, he says, could be great.
Republicans on Capitol Hill are laying the groundwork to push through an ambitious agenda with President-elect Donald Trump if they have total control of Washington next January – a rare GOP trifecta that party leaders believe is now within reach.
A military judge ruled on Wednesday that plea agreements between the alleged 9/11 conspirators at Guantanamo Bay and the US government are “valid and enforceable,” a defense official told CNN – roughly three months after Defense Secretary Lloyd Austin revoked the deals.
President-elect Donald Trump’s allies are quickly jockeying for positions in a new Trump new administration on the heels of his decisive victory, sources familiar with the matter told CNN, pitting loyalists against each other to land top roles in the new government.
Vice President Kamala Harris offered an uplifting, positive charge to her supporters as she conceded the 2024 presidential election, acknowledging the stinging loss while committing to a peaceful transfer of power and vowing to “fight.”
In the hours after Donald Trump secured another term in the White House, a familiar exercise was unfolding in foreign capitals. Dusting off their proverbial Trump playbooks, leaders from Paris to Jerusalem to Riyadh and beyond began posting congratulatory messages online and pressing their ambassadors in Washington to find a way — any way — to get in contact with the incoming president directly.