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Lawmakers say Trump indicated he will fire Fed Chair Powell: CBS
*LAWMAKERS SAY TRUMP INDICATED HE WILL FIRE FED CHAIR POWELL: CBS
— DB News TradFi (@DBNewswire) July 16, 2025
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*TRUMP ASKED GOP LAWMAKERS ABOUT FIRING FED CHAIR POWELL: CBS
— DB News TradFi (@DBNewswire) July 16, 2025
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Trump asked GOP lawmakers if he should fire Fed Chair Jerome Powell, sources say
President Trump on Tuesday asked a group of House Republicans if he should fire Federal Reserve Chair Jerome Powell — and people in the room voiced approval, according to multiple sources with direct knowledge. Several said Mr. Trump indicated he will do it. Mr. Trump made the comments to the Republican House members in the Oval Office on Tuesday night, after they blocked a procedural vote that would have advanced cryptocurrency legislation in the House favored by Mr. Trump. The idea of a president removing a Fed chair is legally untested – federal law says the chair can only be fired "for cause." The action ... (full story)
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From finance.yahoo.com|Jul 16, 2025A growing number of European Union member states want the bloc to activate its most powerful trade tool against the US should the two sides fail to reach an acceptable agreement ...
From breakingthenews.net|Jul 16, 2025Commercial crude oil inventories in the United States, which are not taking into account those in the Strategic Petroleum Reserve, were down by 3.9 million barrels to 422.2 ...
From federalreserve.gov|Jul 16, 2025Thank you for the opportunity to speak to you today. I am here to discuss one of the most important resources that policymakers have: the lessons of history. In discharging my responsibilities at the Federal Reserve, I have been thinking a lot about history. Its study provides the opportunity to step out of the particular circumstances of today to inform our understanding of the core issues at the heart of financial regulation. While we must be attentive to new and even unprecedented challenges, experience shows that understanding the lessons of history gives policymakers a great advantage. Many of the decisions we face today have, in some form, been confronted by previous generations of policymakers. In these remarks, I want to discuss a particular pattern in the history of the financial system, which is the relationship between regulatory weakening and the economic and financial cycle of booms and busts. My intent is not to re-hash well-examined facts or to go over past historical episodes chapter and verse. Rather, I aim to offer a perspective on this historical throughline that focuses on the regulatory cycle. It's widely accepted that the economy and financial system experience cyclical booms and busts. Booms have historically been characterized by a multitude of good things. These can include fast economic growth, workers who had been sidelined entering the workforce and improving their lives, and financial innovations that often make credit or investments more readily available. At the same time, some of the characteristics of a boom economy, such as rapid increases in credit and in financial market activity, as well as greater risk-taking and leverage, can sow the seeds of busts. In busts, economic activity and lending contract and asset prices decline. This can lead to rapid deleveraging and dislocation throughout the financial system, which worsen the downturn, causing job losses and business closures, homes lost and lives upended. Fed's Barr warns that relaxing rules can create vulnerabilities. Fed’s Barr: Regulation Must Evolve in Step with Changes in the Financial System
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From @LiveSquawk|Jul 16, 2025|154 commentsWH Official: Trump Likely To Fire Fed Chair Powell Soon, No Exact Timeline For Decision - Trump Spoke To Lawmakers On Tuesday About Decision
Trump Likely to Fire Powell Soon, White House Official Says President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon, a White House official said, and discussed the possible move in a meeting with congressional Republicans on Tuesday night. While the lawmakers voiced support for the move, which would likely roil financial markets and lead to a consequential legal showdown, Trump has not made a final decision and could change his mind, according to the official who requested anonymity to discuss a private conversation. The president has repeatedly expressed frustration over the central bank’s decision to hold interest rates steady, and administration officials have confirmed in recent days that the process to select a successor to Powell — whose term as chair isn’t set to expire until May 2026 — is underway.
From @LiveSquawk|Jul 16, 2025|225 commentsTrump Has Drafted Letter To Fire Fed Chair And Asked Republicans If He Should - @nytimes https://t.co/BAEqJc32kR
From @DBNewswire|Jul 16, 2025|259 comments*TRUMP ON POWELL: NOT PLANNING ON DOING ANYTHING: RTRS US President Trump On If He'll Fire Fed Chair Powell; Says He Has Been ‘Too Late’ - Powell Does A Terrible Job, We Fight Through It US President Trump: Powell’s Board Is Not Doing Its Job - “We Get To Make A Change In 8 Months” - We'll Pick Someone Who Is Good - Asked About Firing Powell, Says “They're Not Talking About It” Donald Trump Expresses Worry Over Federal Reserve Chair Powell's Plans for Economic Policy Trump on Not Firing Powell: Unless there is fraud with renovation.
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