Fed, Trump and Jerome Powell
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The president indicated to Republican lawmakers that he is likely to attempt to remove Federal Reserve Chair Jerome Powell from his job soon.
Wall Street digested a surprisingly cool wholesale inflation reading and more big bank earnings, with one eye on Trump's latest tariff moves.
In seeking to fire him, Trump would test the legal bounds of his authority over the central bank and independent federal agencies more broadly.
The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue
The process to choose the next head of the Federal Reserve is getting under way, Treasury Secretary Scott Bessent said, suggesting that when current Chair Jerome Powell is replaced, he should also step down from the board.