Trump Shreds Fed Chair Jerome Powell
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A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.
The speech comes as President Donald Trump intensifies pressure on the Fed to lower borrowing costs. Trump has repeatedly attacked Powell and has floated firing and replacing him before his term ends in May 2026. Waller, a Trump appointee, is considered a top contender for the job in part because of his dovish stance on interest rates.
US president’s offensive against Jay Powell has prompted swings in the dollar and lifted long-term inflation expectations
Treasury yield was flat at 4.455%. The 2-year yield was nearly 3 basis points higher at 3.91%. The 30-year note was lower by less than 1 basis point, yielding 5.007%. One basis point is equal to 0.01% and yields and prices move in opposite directions.