U.S. Federal Reserve Chair Jerome Powell is a "numbskull" who has kept interest rates too high, but he will be out in eight months, President Donald Trump said at a news conference on Tuesday.

“Bessent is trying to show Trump there is a path to get what he wants without unnecessary market turmoil,” said Stephen Myrow, managing partner at Beacon Policy Advisors. That path would involve allowing Powell to finish out his term as chair and stepping down from the Federal Reserve board once his chairmanship is up.

Treasury Secretary Scott Bessent offered support for Jerome Powell amid regular attacks from Trump administration officials, saying he sees no reason for the Federal Reserve chair to step down.

Changing the way the Federal Reserve operates or assesses the economy may have a more durable impact on policy and markets than firing the Fed boss.

The composite manufacturing index fell twelve points to -20, remaining in negative territory for a fifth straight month.

White House deputy chief of staff James Blair will visit the renovation site at the Federal Reserve's headquarters amid President Donald Trump's concerns with the projects cost overruns.

A fake resignation letter generated by AI fooled Utah Senator Mike Lee into thinking that Jerome Powell, chair of the Federal Reserve, had quit on Tuesday. The senator tweeted and deleted the fake letter from his personal “basedmikelee” account, which staffers have confirmed that Lee operates directly.

Treasury Secretary Scott Bessent offered support for Jerome Powell amid regular attacks from Trump administration officials, saying he sees no reason for the Federal Reserve chair to step down. “There’s nothing that tells me that he should step down right now,

A new gathering tries to turn the page for the Fed’s banking supervision and the nation’s banks.

For the moment, our central forecast still sees the Fed remaining on hold throughout 2025. For 2026, we have changed our base case to feature one additional rate cut in the first half, which would take the fed funds rate to neutral levels by the end of that year.

Economist Clifford Winston joined "Forbes Newsroom" to discuss President Donald Trump's recent criticisms of Federal Reserve chair Jerome Powell.

The Federal Reserve continued work on its comprehensive effort to rewrite bank rules with a daylong conference at its headquarters on Tuesday.