The central bank chairman said Friday that he would not step down if asked to do so by the president, adding that he has not received any direct communications from the White House about the agency’s interest rate policy.
Facebook’s WhatsApp unit has been testing its payments app in India since May; investors price in an almost a 90% probability of no Fed hikes this year.
Despite some growing support for central banks issuing digital currencies, the practice raises important privacy concerns and questions about the structure of the banking system.
Media reports say President Trump is polling advisers on whether he can fire the head of the central bank. He probably can't, but that may not stop him from trying.
President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell as his frustration with the central bank chief intensified following this week’s interest-rate hike and months of stock-market losses.
Readers sound off on the CFPB's name change, whether the Post Office should be allowed to engage in banking services and the FDIC's call to revamp the de novo process.
The president’s escalating criticism of the central bank might be bluster. But it raises questions about how far he might go and what would happen if he tried to act.
President Trump stepped up his attacks on the Federal Reserve Board and its chairman, Jerome Powell, blaming the central bank for declines in the stock market.
