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Jerome Powell uses JFK award speech to warn against political pressure on Fed, courts and schools

BOSTON — Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to defend independent institutions while accepting an award Sunday honoring his efforts to preserve the central bank’s independence. Speaking at the John F. Kennedy Presidential Library overlooking Boston Harbor, Powell called universities, courts, Congress and the central bank “the foundation and the embodiment of our democracy” and argued that the Fed’s independence was a...

Politico EU 9d ago

Powell uses JFK award speech to defend Fed from political pressure

Powell uses JFK award speech to defend Fed from political pressure Former Fed chair urges protection of America’s democratic institutions, warns they face a ‘stress test’ Former US Federal Reserve chair Jerome Powell used one of his first major public appearances since leaving office to defend independent institutions while accepting an award Sunday honouring his efforts to preserve the central bank’s independence. Speaking at the John F. Kennedy Presidential Library, Powell called...

South China Morning Post 9d ago

Former Fed chair Jerome Powell issues stark warning as he’s honored for standing up to Trump

Former Fed chair Jerome Powell issues stark warning as he’s honored for standing up to Trump Speaking at the John F. Kennedy Presidential Library in Boston, Powell underscored the critical role of universities, courts, Congress, and the Federal Reserve, describing them as "the foundation and the embodiment of our democracy” - Bookmark - CommentsGo to comments Jerome Powell, the former Federal Reserve Chair, used a major public appearance to champion the independence of vital institutions,...

The Independent World 9d ago

May jobs report expected to show growth in an economy squeezed by inflation

The jobs report for May, set to be released Friday morning, is expected to show that hiring has remained steady despite growing inflation and energy prices triggered by the ongoing war in Iran. Economists polled by Dow Jones believe that the U.S. economy will have added 80,000 positions in May and that the unemployment rate will be unchanged, at a low 4.3%. Average hourly earnings, which fell below the rate of inflation in April, are expected to rise 0.3%.

NBC News 5d ago

One Reason Trump Might Have Chosen His New Intelligence Chief

This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. There are two reasonable reactions to the news that Bill Pulte has been named acting director of national intelligence: “Who?” and “Him?” Pulte, the current head of the Federal Housing Finance Agency, will replace Tulsi Gabbard, who announced her departure last month after an unhappy and unempowered spell as the...

The Atlantic 7d ago

Pulte appointment as spy chief would give Trump attack dog access to the 'crown jewels'

President Donald Trump's appointment of Bill Pulte to be the acting director of national intelligence will place the president's housing agency attack dog in possession of the country's most prized secrets, a move that analysts fear could further politicize the office and erode U.S. intelligence gathering. Federal Housing Finance Agency Director Bill Pulte, who oversees Fannie Mae and Freddie Mac, was tapped by Trump on Tuesday morning to replace the outgoing DNI Tulsi Gabbard. Pulte is not...

CNBC 8d ago

Why the Worst Get on Top

Bill Pulte does not have a habit of publicly saying admiring things about Vladimir Putin or Bashar al-Assad, so in that one respect his appointment as acting director of national intelligence represents an improvement over Tulsi Gabbard. In every other respect, the appointment is baffling. Pulte has no intelligence background; no national-security expertise.

The Atlantic 8d ago

Trump names inexperienced ally as intelligence director

Trump names inexperienced ally as intelligence director WASHINGTON: President Donald Trump appointed a loyalist with no national security experience as head of US intelligence on Tuesday (Jun 1) - and said he would also retain his existing jobs overseeing federal housing and mortgage policies. Federal Housing Finance Agency chief Bill Pulte - who is known for publicly attacking Trump's political enemies - was named as the acting director of national intelligence (DNI), replacing Tulsi Gabbard.

Channel News Asia 8d ago

Fed's Powell warns Trump's political 'stress test' will wreck public trust in central bank

Former Federal Reserve chair Jerome Powell has warned that attempts by the U.S. government to exert greater political pressure on the central bank will damage public confidence in its independence. Powell — whose time as Fed chair concluded on May 15 — said the central bank, along with other institutions such as the courts and universities, is facing a political "stress test" from President Donald Trump's administration. Speaking at the John F. Kennedy Library Foundation in Boston, Powell...

CNBC 9d ago

Republicans balk at Trump’s attempt to appoint a MAGA enforcer to lead National Intelligence

Republicans balk at Trump’s attempt to appoint a MAGA enforcer to lead National Intelligence Trump’s cold reception comes after the GOP killed his ‘slush fund’ and angered plenty in the Senate Republican conference, Eric Garcia writes - Bookmark - CommentsGo to comments Senate Republicans have greeted President Donald Trump’s decision to name Bill Pulte to serve as acting director of National Intelligence with either ignorance or opposition. Pulte’s name was a shock. Aside from the fact that...

The Independent World 7d ago