Fed Officials Split as Powell Weighs December Interest Rate Cut 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Israel Receives Body of Deceased Hostage as Rafah Crossing Reopening Hinges on Final Returns 
Trump’s Name Appears on U.S. Institute of Peace Ahead of Rwanda–Congo Deal Signing 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
UN General Assembly Demands Russia Return Ukrainian Children Amid Ongoing Conflict 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Trump Warns Drug-Trafficking Nations as Colombia’s Petro Issues Strong Rebuttal 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Drones Spotted Near Zelenskiy’s Flight Path in Ireland Trigger Security Alert 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
Trump Pardons Former Honduran President Juan Orlando Hernández in Controversial Move 
RBNZ Cuts Interest Rates Again as Inflation Cools and Recovery Remains Fragile 
Oil Prices Rise as Geopolitical Tensions and Supply Risks Intensify 
U.S. President Donald Trump said he is not planning to fire Federal Reserve Chair Jerome Powell but refused to rule it out, intensifying criticism over Powell’s reluctance to cut interest rates. Speaking Wednesday, Trump labeled Powell a “terrible” chair and blamed him for keeping rates in the 4.25%-4.50% range amid rising inflation from Trump’s tariff policies.
Earlier, a Bloomberg report suggesting Powell’s imminent dismissal triggered market volatility—stocks fell, the dollar dipped, and Treasury yields jumped. Trump denied the report but confirmed he discussed Powell’s removal with GOP lawmakers. While reaffirming the Fed's independence, Trump hinted Powell could be removed for cause, referencing unproven allegations tied to a $2.5 billion renovation of the Fed’s headquarters.
Powell, first appointed by Trump in 2017 and reappointed by President Biden, has stated he will serve his term through May 2026. Legal precedent prevents firing a Fed chair over policy disagreements, requiring clear misconduct or cause. The Supreme Court recently upheld this interpretation.
Trump’s repeated attacks have alarmed economists and lawmakers. Republican Senator Thom Tillis warned that firing Powell would undermine the Fed’s independence and global market confidence. Senate Majority Leader John Thune and House Financial Services Chair French Hill dismissed the likelihood of Powell’s dismissal.
Amid the controversy, Powell asked the Fed’s inspector general to review the renovation project after Trump’s budget chief accused him of wasteful spending. The Fed publicly disputed these claims.
Economists like JPMorgan’s Michael Feroli warned that weakening the Fed’s autonomy could stoke inflation fears and increase borrowing costs. Meanwhile, speculation about Powell’s successor grows, with Treasury Secretary Scott Bessent and Fed Governor Christopher Waller among the rumored candidates.
Trump’s pressure campaign risks destabilizing the Fed at a critical economic juncture.
