Fed, Trump and interest rates
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The Fed’s decision on interest rates affects many types of consumer borrowing costs, from credit cards and mortgages to auto loans.
President Donald Trump told reporters he would not fire Federal Reserve Chair Jerome Powell despite growing tension between the two over interest rates.
Aside from interest rates, the president and Powell are also not on the same page about the Federal Reserve renovation costs and inflation.
President Donald Trump on Thursday visited the Federal Reserve building to tour its renovations as he pushes the agency to cut interest rates. Trump was joined by Federal Reserve Chairman Jerome Powell and stood in the middle of the ongoing renovations during a press conference.
The Federal Open Market Committee will meet on Tuesday and Wednesday before announcing the federal-funds rate target range, which has sat at 4.25% to 4.5% since December. The decision will go public at 2 p.m. Eastern time on Wednesday, and Fed Chair Jerome Powell will address the media at 2:30 p.m.
The stock market is at record highs as investors brace for what's expected to be the busiest week of the summer on Wall Street.
It’s not the Nantucket Summer Garden Tour.Yet a gaggle of White House officials and other GOP leaders led by President Donald Trump headed over to the Federal Reserve campus this week. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter💰💵They're checking out a $2.