The ongoing tension between President Trump and Federal Reserve Chair Jerome Powell has reached a critical juncture. Trump's relentless criticism of Powell for not cutting interest rates swiftly enough seems to be paving the way for a controversial move: using 'fraud' as a justification for dismissal.

New data from the White House Council of Economic Advisers backs President Donald Trump's calls for the Federal Reserve to cut interest rates.

A sprawling $2.5 billion project to renovate the central bank’s headquarters in Washington has become the focal point of attacks from the Trump administration.

Key Points Donald Trump is publicly pressuring Fed Chair Jerome Powell to cut interest rates sooner, while exploring controversial arguments—including costly Federal Reserve renovations—as potential grounds for dismissal.

Mark Joseph Stern: Under federal law, Trump cannot remove Powell over a policy disagreement. Federal law expressly allows for the removal of the Fed’s board members only for “cause”—something like abuse of office or malfeasance. That means Trump can’t just sack Powell because Trump wants to slash rates and Powell wants to keep them steady.

The Federal Reserve was already wrestling with a lot of uncertainty about the future path of monetary policy, and President Trump’s strike on Iran's nuclear sites will likely make that path even more uncertain in the near term.

The S&P 500 closed at a record high on Friday, soaring to its highest level since February as investors cheered a host of bullish catalysts.