Colby Smith

Kugler is resigning from the Board of Governors as of August 8. Her term was due to end in January anyways, but this gives the president the opportunity to appoint someone new to the Fed earlier than expected

Fed Dissenters Defend Call for July Rate Cut as Trump Intensifies Attacks

Waller and Bowman issue statements on Friday explaining their dissents. Their argument is that an unsteady labor market calls for the central bank to take pre-emptive action to support it and that inflation tied to tariffs is temporary www.nytimes.com/2025/08/01/b... @nytimes.com

Trump’s Fight With the Fed Won’t End With Rate Cuts

Trump escalates his attacks on Powell, calling for the board to unseat him as chair. That pressure campaign is set to linger, even as the Fed cuts rates www.nytimes.com/2025/07/31/b... @nytimes.com

Trump’s Fight With the Fed Won’t End With Rate Cuts

In a sign of the tension that is set to linger even after the Fed restarts rate cuts, Trump on Thursday accused Powell of being “TOO ANGRY, TOO STUPID, & TOO POLITICAL”

My latest on how the Fed will not escape the president’s crosshairs www.nytimes.com/2025/07/31/b... @nytimes.com

Waller and Bowman dissent on the Fed's decision to hold on Wednesday, the first time two board members have opposed a monetary policy decision since 1993

What to Watch at the Federal Reserve’s July Meeting

The Fed is expected to stand pat on rate cuts today, but we could see multiple dissents on the vote itself. Powell may also lay the groundwork for a September cut. Here's our summary of what to watch

www.nytimes.com/2025/07/30/b... @nytimes.com

Powell Under Siege as Fed Plans to Stand Pat on Rate Cuts

As the Fed prepares to again hold rates steady, Powell is under siege

He not only faces relentless attacks from Trump and an active competition to replace him as chair, but also divisions within his own ranks about when to restart cuts

www.nytimes.com/2025/07/29/b... @nytimes.com

Where Is the Economy Going? A ‘Monster Week’ of News Could Help Decide.

The Fed meeting is just one event in what is shaping up to be a "monster week" of data and policy announcements. The outcome will inform which narrative about the economy (resounding resilience vs cracks forming) is coming true www.nytimes.com/2025/07/28/b... @nytimes.com @bencasselman.bsky.social

In an exchange between Trump and Powell at the construction site of the Fed's renovations, the chair corrects the president over his $3.1 billion estimate of the projec

"You just added in a third building," Powell said, referencing the Martin building completed five years ago

Fed Staff Members Cite Tariffs and Inflation for Costly Renovations

In a tour on Thursday, Fed staff blamed tariffs and inflation for the high cost of renovating its headquarters and said the upgrades were necessary to meet security needs and maintain the building’s historic architectural aesthetic www.nytimes.com/2025/07/24/b... @nytimes.com

The Renovations Fueling Trump’s Attacks on the Fed

Ahead of the president's visit to the Fed this afternoon, our explainer on the $2.5bn renovations that are now the focal point of the administration's attacks on the central bank

www.nytimes.com/2025/07/24/b... @nytimes.com

Trump’s visit comes as he presses the Fed to bend to his demands.

Trump decided to visit the Fed earlier this week, according to a person briefed on the decision. The central bank was not alerted in advance of the announcement going out on Wednesday evening, the person said www.nytimes.com/live/2025/07...

Trump is going to the Fed tomorrow at 4pm, per guidance from the White House. Other administration officials will be touring the construction site of its new headquarters as well tomorrow

Opinion | Ben Bernanke and Janet Yellen: The Fed Must Be Independent

New @nytimes.com op-ed by former Fed chairs Ben Bernanke and Janet Yellen: The Fed Must Be Independent
www.nytimes.com/2025/07/21/o...

Marriner S. Eccles Building and 1951 Constitution Avenue Building Project The Federal Reserve Board of Governors in Washington DC.

As the White House continues to scrutinize the Fed's HQ renovations, the central bank publishes a virtual tour on its website and highlights changes made since the 2021 proposal www.federalreserve.gov/faqs/buildin...

Trump’s Withering Criticism of Powell Puts Fed Decisions Under Microscope

The Fed's decisions are always closely watched, but Trump's attacks have now put them under an even more intense microscope

Officials are expected to hold interest rates steady later this month, but there could be a path to cut in September www.nytimes.com/2025/07/18/b... @nytimes.com

Fed governor Chris Waller officially backs a 25bp cut at the July meeting and says policy should be back to neutral

"With inflation near target and the upside risks to inflation limited, we should not wait until the labor market deteriorates before we cut the policy rate"

Can Trump Fire Powell? He Likely Lacks a Case, Legal Experts Say.

Can Trump fire Powell? He likely lacks a case, legal experts say.

“There has to be a showing of misconduct, and Powell would have a lot of avenues to challenge the administration if they proceed against him.”

www.nytimes.com/2025/07/16/u... @nytimes.com @tonyromm.bsky.social

Two people with knowledge of the matter said that a draft of a letter firing Powell was given to the president earlier in the week by William J. Pulte, the director of the Federal Housing Finance Agency

Trump Has Drafted Letter to Fire Fed Chair and Asked Republicans if He Should

Some advisers to and allies of Trump insist the president won’t actually follow through with trying to fire him

But the existence of a draft letter doing so suggests he is engaging in the type of moves that he often does ahead of making a major decision www.nytimes.com/2025/07/16/u... @nytimes.com

U.S. Inflation Accelerated in June as Trump’s Tariffs Pushed Up Prices

Trump promised not just to stop inflation but to cut costs. Now inflation is heading up again, ticking up to a 2.7% annual rate last month from 2.4% the month before. @colbylsmith.bsky.social www.nytimes.com/2025/07/15/b...

Trump's tariffs are starting to leave a bigger imprint on the economy, pushing up prices in June for categories like household furnishings (furniture, appliances etc) that are heavily exposed to the levies in place

www.nytimes.com/2025/07/15/b... @nytimes.com

The Economy Has Been Resilient. The New Round of Tariffs May Hit Harder.

The president has had little reason to scale back his global trade war ambitions with inflation subdued, unemployment stable and stock markets back to record highs. But the latest escalation could jeopardize that

www.nytimes.com/2025/07/14/u... @tonyromm.bsky.social @nytimes.com

Fed Defends Renovations as White House Widens Attacks on Central Bank

A new line of attack on the Fed over its renovations has raised alarm that the White House is trying to lay the groundwork to fire Powell for cause

"What they’re trying to do is build up a public case and to discredit him," says Kate Judge of Columbia Law School

www.nytimes.com/2025/07/11/b...

New FAQs from the Fed lay out details intended to support Powell's statements to Congress regarding its renovations, amid accusations against the chair

Some legal experts worry this is a prelude to the White House trying to remove him for cause www.nytimes.com/2025/07/11/b... @nytimes.com

Marriner S. Eccles Building and 1951 Constitution Avenue Building Project The Federal Reserve Board of Governors in Washington DC.

The Fed has taken steps to defend itself against accusations that its chair had mismanaged renovations underway at its headquarters in Washington D.C. and then mislead Congress, updating its FAQs on the project on Friday www.federalreserve.gov/faqs/buildin...

* GOOLSBEE SAYS NEW TARIFF THREATS COULD DELAY RATE CUTS: WSJ

Can the Next Fed Chair Truly Be Independent From Trump’s Influence?

On Thursday, gov Chris Waller, a contender to replace Powell as chair, stressed his support for a rate cut is "not political"

That is the kind of assurance that whomever is chosen must provide to overcome concerns that they are acting at Trump's behest www.nytimes.com/2025/07/10/b... @nytimes.com

Trump’s Push for Influence Over Fed Decisions May Hobble Next Chair

Trump has yet to name his pick to replace Powell, but whomever he chooses will have to overcome doubts that they are setting interest rates free of influence from the White House or risk eroding the institution’s credibility www.nytimes.com/2025/07/10/b... @nytimes.com @darioperkins.bsky.social

The US’s industrial use of copper “is widespread and it’s difficult to replace with other materials .. the greatest impact could fall on the US. That’s certainly suggested by the widening gap between the prices in London and New York.”

@johnauthers.bsky.social