Trump says he wouldn’t fire Fed Chair Jerome Powell. Don’t hold your breath
CNN
Republican presidential nominee Donald Trump would not fire Federal Reserve Chair Jerome Powell if the former president wins the election in November, according to a Bloomberg interview published Tuesday.
Republican presidential nominee Donald Trump would not fire Federal Reserve Chair Jerome Powell if the former president wins the election in November, according to a Bloomberg interview published Tuesday. But Trump’s statement wasn’t exactly a promise, saying he’d let Powell finish up his second term, “especially if I thought he was doing the right thing.” Of course, his statement also assumes it would be technically possible for a sitting president to oust any Fed official. Powell, a registered Republican, was first tapped to helm the central bank by Trump in 2017. Trump sang Powell’s praises at the time, saying “he’s strong, he’s committed, he’s smart.” Trump doesn’t have that same rosy view of his central bank appointee any more and has repeatedly attacked the current Fed chief, even accusing him earlier this year of planning to cut interest rates just to help Democratic politicians win elections (though there isn’t any evidence of that). The former president has made it clear he will not reappoint Powell if he clinches the White House in November. Trump’s ire toward Powell goes as far back as 2018 when the Fed raised rates, which sparked chatter even then as to whether or not Trump could even fire Powell. However, if Trump changes his mind outright because he thinks Powell isn’t doing “the right thing” and does try to remove him, it could kick off a messy uphill battle. The law states that a sitting president can dismiss any Fed official, but only for “cause,” not because of policy differences. That still wouldn’t stop Trump from pushing to oust Powell before the Fed head’s term concludes in 2026.
As Elon Musk and his Department of Government Efficiency associates barrel through the federal government, former Twitter (now X) employees have seen this all before.
People don’t buy “domestic” cars or salute the “domestic” flag, so they shouldn’t drink “domestic” beer. At least, that’s what Anheuser-Busch’s CEO thinks.
As President Trump and Elon Musk remake the federal government through firings, orders and brute force, small news publishers that specialize in the federal workforce are landing big scoops and seeing equally big traffic gains.
Nissan is still holding “various discussions” with Honda, the carmaker said Wednesday in response to media reports that it is set to scrap merger talks with its larger rival.
The end of cheap Shein and Temu hauls? How Trump’s tariffs could make those shipments more expensive
Americans love Shein, Temu and Alibaba for two reasons: cheap prices and fast shipping.
The US Postal Service says it has temporarily suspended the acceptance of incoming international parcels from China and Hong Kong until further notice.
Google’s updated AI ethics policy removes its promise that it won’t use the technology to pursue weapons and surveillance.
Need a new computer, television or phone? You might want to consider getting one now.
Tensions among the United States and its three biggest trading partners are injecting uncertainty into the US economy, putting American business owners in an uncomfortable wait-and-see posture. We’d like to hear from you.
Australia has banned DeepSeek from all government devices over concerns that the Chinese artificial intelligence startup behind it poses security risks, the government said Tuesday.
The soaring price of eggs has forced Waffle House to add a temporary surcharge on customers’ orders.
Lower-income Americans are likely to feel the brunt of the unprecedented tariffs President Donald Trump has set in motion.
Tariffs have dominated headlines since President Donald Trump took office just over two weeks ago, as he threatened steep, sweeping tariffs on goods the United States imports from its three largest trading partners — Mexico, China and Canada — on Tuesday.