Fed’s Independence Faces Critical Tests as Trump Seeks to Remake Institution

By: Colby Smith — 7 January 2026 at 10:01

The central bank faces two major hurdles early on in 2026 that will determine the extent to which it operates free of political meddling.

President Trump has said anybody who disagrees with him will never get the top job at the Federal Reserve, prompting concern that his nominee will prioritize pleasing him over all else.

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Supreme Court Allows Lisa Cook to Remain at Fed, for Now

By: Ann E. Marimow and Colby Smith — 1 October 2025 at 19:32

The justices deferred a decision on the president’s efforts to oust Ms. Cook and instead set oral arguments in the case for January.

President Trump has been trying to remove Lisa Cook from the Federal Reserve Board for months.

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Powell Stresses ‘Challenging Situation’ for Fed as Rate Debate Intensifies

By: Colby Smith — 23 September 2025 at 18:51

Jerome H. Powell, chair of the Federal Reserve, suggested he saw further scope to lower interest rates this year to protect the labor market despite rising inflation.

Jerome H. Powell, the Federal Reserve chair.

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CPI Shows US Inflation Sped Up in June as Trump’s Tariffs Pushed Up Prices

By: Colby Smith — 15 July 2025 at 18:46

The Consumer Price Index rose 2.7 percent from a year earlier, as the global trade war started to bite.

Shoppers at a mall in Miami Beach, Fla.

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Rising Inflation Underscores Risks in Trump’s New Tariff Threats

By: Tony Romm and Colby Smith — 15 July 2025 at 18:44

New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

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Business Lobbyists Scramble to Kill $100 Billion ‘Revenge Tax’

By: Alan Rappeport and Colby Smith — 16 June 2025 at 18:21

Critics contend that the measure will scare off the foreign investment that President Trump wants to attract.

Legislation being advanced by Republicans in Congress would substantially increase the tax bills for many foreign companies that operate in the United States, raising more than $100 billion over a decade.

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The Fed Could Be on Hold Until September, Economists Say

By: Colby Smith — 8 May 2025 at 18:17

Economists have shifted back their forecasts for lower borrowing costs as President Trump’s tariffs raised the risk of higher inflation and slower growth.

“It’s really not at all clear what it is we should do,” Jerome H. Powell, the Federal Reserve chair, said during a news conference on Wednesday in Washington.