Fed's Spending Trump Uses Against Powell
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Fed, Powell and White House
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The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.
The White House is criticizing an expensive renovation at Federal Reserve headquarters as President Donald Trump pursues a pressure campaign to lower interest rates.
JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern".
Trump, who has repeatedly slammed Powell over his unwillingness to slash interest rates, added that his nemesis “should resign immediately” if the investigation proves he misled
The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.