Top Results For: federal reserve

The U.S. Department of Justice (DOJ) has taken the extraordinary step of opening a criminal investigation into Federal Reserve chair Jerome Powell. Candice Cole explains why, how he’s pushing back, and how the situation threatens the U.S. central bank’s independency.

During an address to the nation on Wednesday night, U.S. President Donald Trump said that during Biden’s time in office, the typical new mortgage rose by $15,000. “Soon I will announce the next chairman of the federal reserve, someone who believes in lower interest rates, by a lot.”

U.S. Federal Reserve Chair Jerome Powell says the country’s Department of Justice served the central bank with subpoenas on Sunday, threatening a criminal indictment. This comes after Powell’s testimony over the summer regarding the 2.5 billion dollar renovation of two office buildings. Jazan Grewal has this story and more for Business Matters on Jan. 12,...

Federal Reserve Chair Jerome Powell said Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations. The move represents an unprecedented escalation in President Donald Trump’s battle with the Fed, an independent agency he has repeatedly...

Before boarding Marine One on Tuesday on his way to deliver a speech on the economy in Detroit, Michigan, U.S. President Donald Trump touted U.S. wealth saying new statistics show the country has very low inflation “so that would give (Fed Chair) ‘Too Late’ (Jerome) Powell the chance to give us a nice, beautiful big...

U.S. President Donald Trump doubled down Monday on threats of a lawsuit against Federal Reserve Chair Jerome Powell. Trump’s reasoning for a potential suit? “Gross incompetence” which he related to the “incompetent” Powell’s management of renovations at the Fed’s Washington headquarters. Powell’s term will expire in May and Trump suggested he will nominate a successor...

U.S. President Donald Trump on Tuesday asked his treasury secretary, Scott Bessent, to investigate whether his predecessor Joe Biden used an autopen to sign the appointments of some Democratic members of the Federal Reserve’s Board of Governors.

At the U.S.-Saudi Investment Forum Wednesday, President Trump reiterated his disdain for Federal Reserve Chair Jerome Powell, saying he has “some real mental problems” and calling him “grossly incompetent.”

The federal court has ruled Canada is legally obligated to provide adequate housing on First Nations Reserves in a class-action suit that saw more than 100 First Nations, including some in Manitoba, sue the federal government.

Nivrita Ganguly joins Global’s Amandalina Letterio to discuss what to expect from highly-anticipated monetary policy meetings at the Bank of Canada and U.S. Federal Reserve this week.

Global central banks are gearing up for an important week, with several — including the Bank of Canada and the U-S Federal Reserve — set to decide interest rates in the days ahead. Nivrita Ganguly has more on what to expect.

On Friday, Canadian Prime Minister Mark Carney gave a speech at Canadian Club Toronto to elaborate on the 2025 federal budget, highlighting the need for a “dramatic” economic strategy change under the straining trade ties with the U.S. “The world has become more dangerous and divided, and that decades-long process of an ever-closer economic relationship...

The Centers for Disease Control and Prevention (CDC) and the Federal Reserve are both under intense pressure from U.S. President Donald Trump’s administration. Neetu Garcha explains the White House’s attempts to fire senior officials in both independent agencies, and the widespread pushback.

U.S. Federal Reserve Governor Lisa Cook says she will sue President Donald Trump’s administration to try to prevent him from firing her. Neetu Garcha explains why Trump is trying to dismiss Cook, how it’s escalating his feud with the U.S. central bank, and what he could be trying to achieve.

U.S. President Donald Trump on Monday said he was firing Federal Reserve Governor Lisa Cook over alleged improprieties in obtaining mortgage loans, an unprecedented step that could test the boundaries of presidential power over the independent monetary policy body should it be challenged in court. Trump said in a letter to Cook that he had...

The Bank of Canada has reduced its key interest rate by 25 basis points, bringing the overnight lending rate to 2.5 per cent. This comes as the U.S. Federal Reserve cut its rate for the first time this year. Financial expert Rubina Ahmed Haq joins Miranda Anthistle for this week’s more information in this week’s...

Borrowing costs are coming down for some Canadians with variable-rate debt after the Bank of Canada on Wednesday delivered its first interest rate cut since march, lowering its overnight benchmark rate by 25 basis points to 2.5 per cent. Anne Gaviola has more on this and the impact of the latest move from the U.S....

During a visit to the Federal Reserve in Washington, D.C. on Thursday, U.S. President Donald Trump was fact-checked by Fed Chair Jerome Powell after he claimed the overhaul of the headquarters cost $3.1 billion.

White House Press Secretary Karoline Leavitt confirmed Tuesday that U.S. President Donald Trump is weighing a possible lawsuit against Federal Reserve Chair Jerome Powell over renovations to the central bank’s Washington, D.C. headquarters, but did not go into details.

The Bank of Canada and the U.S. Federal Reserve have both held their interest rates firm for several months, with both countries having unstable economic outlooks. Anne Gaviola explains how central banks decide interest rates, how they’re independent from federal governments, and how much longer interest rates could hold steady.