Fed, White House and Powell
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1don MSN
President Trump appears to be inching closer to firing Jerome Powell as Federal Reserve chair, according to news reports and his own comments.
The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it's a pretext to eventually fire the central bank chief.
Stocks plummeted when a series of reports indicated president Donald Trump was close to firing the Fed chair. They soared once he denied them.
Republican lawmakers on Tuesday may chime in with criticism if Fed Chair Jerome Powell affirms a “wait-and-see” monetary policy approach in testimony to a House committee.