Fed, Warsh and Donald Trump
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By Ann Saphir Feb 4 (Reuters) - Federal Reserve Governor Lisa Cook on Wednesday signaled that she will not support another interest-rate cut until she sees more proof that price pressures are receding,
Federal Reserve Governor Stephen Miran is calling for aggressive interest rate cuts exceeding one percentage point after dissenting in the latest FOMC meeting.
President Donald Trump recently said the investigation into Jerome Powell, led by U.S. Attorney for Washington Jeanine Pirro, should continue to the end.
Feb 4 (Reuters) - Federal Reserve Governor Lisa Cook on Wednesday said she is more concerned about stalled progress on inflation than a weakening labor market, a strong signal that she will not support another interest-rate cut until price pressures that built last year due to tariffs begin to recede.
The Massachusetts Democrat said Warsh would do President Trump's bidding in a break with the central bank’s independence that would threaten the economy.
In a House committee hearing, the Treasury secretary declined to say if the president has the power to fire a member of the central bank’s board.
By Ann Saphir Feb 4 (Reuters) - Republican Senator Tim Scott on Wednesday said he does not believe Federal Reserve Chair Jerome Powell broke the law when he testified to Congress last summer, and would say that to any prosecutor who came asking.
Kevin Warsh, Trump's pick for Fed chair, is a good listener who seeks consensus, former colleagues say. That could shape how he would run the Fed.
Sen. Thom Tillis told CNBC he is committed to blocking Kevin Warsh's confirmation as Fed chair unless the Trump administration ends its probe of Chair Powell.