Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

White House budget director Russell Vought said in a social media post that Jerome Powell 'has grossly mismanaged the Fed' as he published a letter sent to the central bank chairman raising concerns about renovations of the institution's Washington offices.

President Donald Trump says “anybody” but Federal Reserve Chair Jerome Powell should head the central bank. Could that even include Treasury Secretary Scott Bessett — and would he be able to wear both hats?

The right to freedom of speech allows Trump to make demands of the Fed to his heart's content. But legally, he cannot compel the central bank to lower its benchmark interest rate. The Fed has the right to act independently, and its aim is to promote a healthy and stable economy by keeping inflation in check.

A federal judge agreed Thursday to issue a new nationwide block against President Donald Trump’s executive order seeking to end birthright citizenship.

U.S. District Judge Joseph LaPlante issued a preliminary injunction against Trump's birthright citizenship ban, ruling that deprivation of citizenship would create irreparable harm.

The U.S. Supreme Court on Tuesday cleared the way for Donald Trump's administration to pursue mass government job cuts and the sweeping downsizing of numerous agencies, a decision that could lead to tens of thousands of layoffs while dramatically reshaping the federal bureaucracy.