Trump Shreds Fed Chair Jerome Powell
Digest more
By David French (Reuters) -Wall Street benchmarks ended modestly higher on Wednesday, with the Nasdaq Composite posting its latest record finish, despite a chaotic half hour when news reports suggested U.
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.
Federal Reserve Chair Jerome Powell on Thursday said the agency’s renovation of its office complex in Washington complies with plans approved by a local commission, disputing a White House suggestion that they had violated the law by deviating from those plans.
Wall Street benchmarks closed modestly higher on Wednesday, with the Nasdaq Composite achieving its latest record finish, despite a chaotic half hour when news reports suggested U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell.
The Wall Street Journal editorial board on Wednesday urged President Trump not to follow through on his threat to fire Federal Reserve Chair Jerome Powell, warning the consequences would be worse
The S&P 500 reverses earlier losses to close just shy of a record.
PepsiCo jumped 7.5% after delivering revenue and profit that topped Wall Street’s expectations. The drink and snack giant also stood by its financial forecasts given in April, which projected lower full-year profit than previous forecasts due to increased costs from tariffs and a pullback in consumer spending.
Federal Reserve Chair Jerome Powell has struggled to get his message across as inflation stays above 8 percent, but now it appears he’s made himself clear to Wall Street
Wall Street ended Wednesday on top as markets grinded out a win in the wake of the latest PPI data and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.