Money, Wealth & Power—A Daily Look at the Financial World
Wall Street is mounting an unusually public effort to keep President Donald Trump from installing longtime ally Kevin Hassett as the next chair of the Federal Reserve, turning a normally discreet vetting process into a full scale lobbying campaign. The fight is not just about personalities, it is about whether the central bank will prioritize…
President Donald Trump says he has settled on his next choice to lead the Federal Reserve and is preparing to reveal the decision, signaling a pivotal moment for monetary policy as markets watch for clues on the central bank’s future path. His comments suggest the search phase is effectively over and that the White House…
Financial markets are no longer just gaming out the next move from the Federal Reserve, they are gaming out the next move from Federal Reserve Governor Stephen Miran. As President Donald Trump’s newest pick settles into his role, his push for faster and deeper rate cuts is turning him into a potential swing voice on…
Elon Musk once framed a new federal cost-cutting office as a “chainsaw for bureaucracy,” a swaggering promise that the project known as DOGE would rip through red tape and shrink Washington. Less than a year later, that chainsaw has effectively disappeared, leaving behind a tangle of unanswered questions about what it actually cut and why…
Elon Musk promised that DOGE would be the Silicon Valley style fix for Washington bloat, a skunkworks inside the federal government that could slash costs with the same ferocity he brought to his companies. Instead, the project has become a case study in how not to run a reform campaign, with a former Republican strategist…
President Donald Trump has turned his long-running feud with Federal Reserve Chair Jerome Powell into a fresh test of presidential power, claiming that advisers and lawyers have stopped him from removing the central bank chief. His latest comments sharpen a yearslong pattern of public threats, legal pushback and political theater around the Fed, even as…
Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, has announced his decision to retire at the end of his term in February 2026. This unexpected move has been described as a surprise retirement, occurring amid a period of political transition as President Donald Trump seeks to exert greater influence over the Federal…
Treasury Secretary Scott Bessent has officially named the five finalists to replace Jerome Powell as the Federal Reserve chair, marking a significant step in the Trump administration’s selection process. President Trump has indicated that a decision will be made before the end of the year, with Bessent planning to present the finalists to him after…