Trump demands Fed listen to him as he lines up new leader: ‘I’m a smart voice’

The Federal Reserve has announced a quarter-point interest rate cut, reducing the target range to 3.5% to 3.75%. This decision is expected to provide some relief to borrowers, although it is noted that long-term payments may not see significant changes as they are influenced by other factors beyond the Fed's benchmark rates.

California Governor Gavin Newsom criticized President Donald Trump's recent executive order on artificial intelligence, which aims to prevent states from enacting their own regulations. Newsom described the order as promoting 'grift and corruption' rather than fostering innovation, highlighting concerns over federal overreach in state governance.

The Federal Reserve is entering 2026 amid significant economic pressures and political uncertainties, with Chair Jerome Powell's exit looming. As the Fed prepares for its final meeting of the year, discussions around a potential interest rate cut are intensifying, reflecting ongoing concerns about inflation and economic stability.

This week, the Federal Reserve's actions regarding its balance sheet have garnered attention, as these decisions may significantly impact banks, potentially more than anticipated rate cuts. The Fed's recent moves indicate a focus on stabilizing financial markets amid ongoing economic uncertainty.

JPMorgan CEO Jamie Dimon has publicly expressed his support for Kevin Warsh as a candidate for the Federal Reserve chair position, indicating a preference for Warsh over other contenders such as Kevin Hassett. This endorsement comes amidst ongoing discussions regarding the future direction of U.S. monetary policy and the Fed's leadership.

The Federal Reserve has reduced interest rates by 25 basis points, despite expectations for economic growth in the coming year. This decision raises questions about the Fed's strategy and its capacity for further rate cuts, as discussed by former Council of Economic Advisers chair Glenn Hubbard, who suggests limited room for additional reductions through 2026.

President Trump indicated he is leaning towards nominating either former Federal Reserve governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Federal Reserve next year, emphasizing the importance of consultation on interest rates. This statement was made during an interview with The Wall Street Journal.

Former President Donald Trump is reportedly leaning towards nominating either Kevin Warsh or Kevin Hassett to lead the Federal Reserve, as he prepares to finalize his selection for the position. This decision comes amid ongoing discussions about the future direction of U.S. monetary policy.