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Trump tariffs could cause summer economic slump: Chicago Fed president newsthirst.

Business owners and CEOs are already stocking up on inventory, and some American shoppers are panic buying big-ticket items in anticipation of President Donald Trump’s tariffs. The sudden buying binge could cause an “artificially high” level of economic activity, said Federal Reserve Bank of Chicago President Austan Goolsbee. “That kind of preemptive purchasing is probably…

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If Trump can fire Fed Chair Powell, markets will crash: Warren newsthirst.

Sen. Elizabeth Warren, D-Mass., warned Thursday that U.S. markets will “crash” if Federal Reserve Chairman Jerome Powell can be fired by President Donald Trump. The comment from Warren, a frequent Powell critic, on CNBC’s “Squawk on the Street” came hours after Trump griped that the Fed chair’s “termination cannot come fast enough!” A senior White…

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Powell indicates tariffs could pose a two-pronged policy challenge for the Fed newsthirst.

Federal Reserve Chair Jerome Powell expressed concern in a speech Wednesday that the central bank could find itself in a dilemma between controlling inflation and supporting economic growth. With uncertainty elevated over what impact President Donald Trump’s tariffs will have, the central bank leader said that while he expects higher inflation and lower growth, it’s…

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Fed Governor Waller sees tariff inflation as ‘transitory’ in ‘Tush Push’ comparison newsthirst.

Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City, U.S. November 12, 2024.  Brendan Mcdermid | Reuters Federal Reserve Governor Christopher Waller said Monday he expects the impacts of President Donald Trump’s tariffs on prices to be “transitory,” embracing a term that got the central bank in trouble…

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‘Transitory’ is back as the Fed doesn’t expect tariffs to have long-lasting inflation impacts newsthirst.

The “good ship Transitory,” despite an ominous record, appears ready to sail again for the Federal Reserve. Economic projections the central bank released Wednesday indicate that while officials see inflation moving up this year more rapidly than previously expected, they also expect the trend to be short-lived. The outlook spurred talk again about “transitory” inflation…

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Bank of America’s CEO says economic growth is ‘better than people think’ and the Fed should stay on hold newsthirst.

Bank of America CEO Brian Moynihan said Wednesday that consumers are continuing to spend and economic growth should be solid though slower this year. Despite surveys indicating that confidence is at a nearly three-year low amid increasing worries about inflation, Moynihan told CNBC that spending data shows consumers are still shelling out money, though shifting…

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