Treasury Secretary Scott Bessent on Monday confirmed the names of five candidates to replace Jerome Powell as chair of the powerful Federal Reserve next year

Instead he is railing at the Federal Reserve, particularly Chairman Jerome Powell. One Fed governor who disagreed with him has fallen on her sword. He is trying to fire another and replace her with someone more compliant.

Jay Powell declared the central bank was “driving in the fog” as the Federal Reserve cut interest rates in the middle of a government shutdown that has deprived the institution of some economic data. The quarter-point cut, which brings the US benchmark rate down to 3.75 per cent, was broadly expected. It now sits at the lowest level since 2022.

On Wednesday, California Attorney General Rob Bonta joined a coalition 23 attorneys general in filing an amicus brief in the U.S. Supreme Court in Donald J. Trump v. Lisa D. Cook, a case concerning President Trump’s attempt to remove Federal Reserve Governor Lisa Cook from her position on the Federal Reserve Board.

California Gov. Gavin Newsom hit back at Donald Trump’s latest price-drop brag with a meme claiming he had “made it up.” The 79-year-old president had just told an audience that “energy prices are down,

Federal Reserve trims rates by quarter point, second reduction this year