In the late hours of Friday night, Republicans on the Senate Banking Committee scheduled a vote to advance President Donald Trump’s pick to lead the Federal Reserve, shortly after the Justice Department announced it was dropping its criminal probe into the current head of the central bank, Jerome Powell. The committee vote will take place on April 29, putting megarich financier Kevin Warsh on…
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The Federal Reserve has quietly delivered nearly half a trillion dollars to Wall Street with few strings attached over the past few months through an obscure government financial program intended for banks struggling to make cash payments. These cash infusions could signal instability in the broader financial sector — and come as the central bank is besieged by potentially market-rattling…
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Federal Reserve Chair Jerome Powell revealed in a defiant statement late Sunday that the US Department of Justice is threatening him with criminal charges, a step the central bank chief condemned as “intimidation” for not bowing to President Donald Trump’s demands on interest rate policy. “I have deep respect for the rule of law and for accountability in our democracy. No one — certainly not…
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