Goolsbee says he hopes Fed maintains its monetary independence, citing credibility
Austan Ghoolsby, president and CEO of the Federal Reserve Bank of Chicago, said he hopes the Federal Reserve maintains financial independence and cites the agency’s credibility amid the attacks from President Trump. Ghoolsby joined CBS News’ Face the Nation on Sunday, squeezing Trump’s pressure on Federal Reserve Chairman Jerome Powell as the president rolls out […]
Klobuchar: There’s a reason we have an independent Fed
Sen. Amy Klobuchar (D-Minn.), a member of the Senate Commerce Committee, has placed emphasis on President Trump’s recent fight with Federal Reserve Chairman Jerome Powell. Klobuchar joined CNN’s “coalition state” on Sunday, where she spoke about the administration’s efforts to speed up the Fed’s cut rates to ease pressure on the economy amid Trump’s tariffs. […]
Schools, parents fear Trump trade war crossfire
Schools and parents are waiting with concern for the impact of President Trump’s tariff war, fearing the worst of the surge in food and school supplies costs. The situation is in flux, with the president putting a 90-day suspension on mutual tariffs in most countries, but for now he has maintained a flat rate of […]
The five people shaping Trump’s economic agenda
President Trump relies on a cast of economic advisers with different perspectives and backgrounds as he implements a tariff agenda that rattles financial markets and sometimes mixes messages. We have Treasury Secretary Scott Bescent. Scott Bescent took the lead in negotiations on trade deals and is seen as a stable hand by Republican lawmakers and […]
Nearly 70 percent of CEOs disapprove of Trump's tariffs: Survey
A recent survey shows that large U.S. CEO executives share a lack of support for President Trump’s latest tariffs, and believe they will hurt the company. Opinion polls conducted by chief executive officer The magazine found that 67 of those surveyed did not agree to the president’s tariff agenda, and 76% thought that drastic import […]
Acting IRS commissioner replaced after Bessent, Musk spar: Reports
IRS Commissioner Gary Shapley has left the agency amid discrepancies between Treasury Secretary Scott Bescent and Presidential Advisor Elon Musk, multiple media outlets reported Friday. The exile comes after a complaint from Bescent to President Trump about Shapley’s appointment made without Bescent’s approval at the request of a mask. The New York Times reported. Shapley […]
Michigan Democrat backs Trump's China tariffs, knocks approach as 'chaotic'
Rep. Debbie Dingel (d-mich.) gave President Trump credibility CNN interview On Friday, in his massive tariff overhaul “in chasing countries like China,” however, House Democrats’ communications chairman panned the uncertainty Trump created in his “chaotic” development. “I don’t think people would think the way he’s doing this is okay.” She told CNN Pamela Brown. “I […]
Top Trump econ adviser says White House is studying ways to fire Powell
President Trump’s top economic adviser told reporters Friday that the White House is looking for ways to fire Federal Reserve Chairman Jerome Powell despite the legal guardrail he is in his position. Kevin Hassett, chairman of the White House National Economic Council, has retreated from previous concerns about Powell’s firing, saying the White House is […]
Wall Street Journal defends Powell from Trump attacks
The Wall Street Journal editorial board has the back of Jerome Powell this week, following President Trump’s fierce social media criticism after Trump provided negative economic forecasts for Trump’s tariffs. “The problem with Trump is that Powell told the truth.” I wrote it in an editorial Released on Friday. “The main lesson from Trump vs. […]
Trump administration eyes elimination of program that helps low-income people heat and cool their homes
The Trump administration is considering helping the end of a program that will help low-income people warm and cool their homes. A draft of the budget request document reviewed by Hill calls for the elimination of the Low Income Housing Energy Assistance Program (LIHEAP) by providing no funding at all. The federal budget is managed […]