Fed, Donald Trump and Jerome Powell
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Powell Orders Review of Fed's $2.5B Renovation
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JPMorgan Chase CEO Jamie Dimon went to bat Tuesday for the Federal Reserve and its chair, Jerome Powell, as the White House pondered ousting him over disagreements about the path of short-term
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against the risk of higher inflation, as a central bank more willing to lower interest rates could fuel price rises and make lenders demand higher compensation to hold bonds.
Economic experts say the Federal Reserve is unlikely to cut rates despite President Donald Trump's demands due to uncertainty from tariff hikes.
The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.
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.
CNBC's "Closing Bell" team discusses what to expect from upcoming bank earnings with Stephen Biggar, director of financial services research at Argus Research.