Why Jerome Powell — not Trump — will decide when the Fed chief steps down
President Trump would love to be finally rid of Fed Chair Jerome Powell. But firing him would kick up a legal firestorm and roil financial markets, experts said.
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Aimee Picchi is associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has been published by national news outlets including USA Today and Consumer Reports. Aimee frequently writes about retirement, and has been a National Press Foundation fellow for reporting on retirement and Columbia University's Age Boom Academy. She's also the editor of the Institutional Investor book "Cultivating the Affluent II," with noted wealth consultant Russ Alan Prince.
President Trump would love to be finally rid of Fed Chair Jerome Powell. But firing him would kick up a legal firestorm and roil financial markets, experts said.
Millions of people using Android mobile devices could receive a payout, according to the settlement website.
Six in 10 Americans say they pay more than their fair share in taxes, recent polling shows. Only one-third believe they pay the right amount.
Warsh's wealth far outstrips that of outgoing Fed Chair Jerome Powell, whose most recent disclosure shows he is worth at least $19.5 million.
Despite start of military operations to intercept ships region, investors still expect U.S. and Iran to find an off-ramp.
Could powerful AI models like Anthropic's Mythos give cybercriminals and other bad actors a roadmap for exploiting tech systems?
Financial industry leaders met to discuss potential cyber risks posed by Anthropic's latest AI model, which has found weaknesses in every major computer operating system.
The average U.S. property tax bill rose 3.7% last year to $4,427, outpacing inflation even as the typical home lost value.
The U.S. Postal Service, which lost $9 billion in 2025, recently warned that it could run out of money within 12 months.
Economic forecasts show that this week's March Consumer Price Index could show prices climbing at their fastest pace in nearly two years.
Many employees expect to retire later as mounting expenses strain budgets, while others hunker down at work as part of the "great stay."
"This is a potentially huge market event like no other. It's a known unknown with a clock," one investment adviser said.
America's middle class is shrinking, but not because people are getting poorer. Instead, more households are climbing the ladder, new research suggests.
Goolsbee, president of the Federal Reserve Bank of Chicago, said mounting inflation risks "complicates the picture" on interest rates.
U.S. consumers are starting to feel the financial impact of the Iran war. Here's how the conflict is seeping into the economy.