Andrew Ackerman
@amacker
Covering the Federal Reserve and #finreg for @washingtonpost. Formerly @wsj [email protected] Signal/WhatsApp: +1-202-590-6178. DC via ATL & MCO
Trump also striking a different tone. Asked if Powell should resign: "I think he's done a bad job, but he's going to be out pretty soon anyway. In eight months, he'll be out ." Maybe he read @greg_ip ‘s column.
Sec. Bessent says the opposite: "There’s nothing that tells me that he should step down right now,” Bessent said of the US central bank chief, speaking Tuesday on Fox Business. “His term ends in May. If he wants to see that through, I think he should. If he wants to leave early,…
With all the daily noise, I had forgotten that a month ago Trump suggested replacing Powell with himself as Fed chair thehill.com/business/53568…
Sec. Bessent says the opposite: "There’s nothing that tells me that he should step down right now,” Bessent said of the US central bank chief, speaking Tuesday on Fox Business. “His term ends in May. If he wants to see that through, I think he should. If he wants to leave early,…
First that I’ve seen of a respected finance/markets person calling for Powell to resign. His argument seems to be: Trump doesn’t like Powell so if Powell resigns, the threats to the Fed’s independence will decrease.
Fed's Bowman on CNBC just now said big banks shouldn’t be declared "not well managed" based on non-financial factors. But her proposal from this month, if I'm reading it correctly, would allow banks deficient in one of two financial categories (capital or liquidity) to…
So under yesterday’s proposal, a big bank could be considered well managed if determined to be deficient in its capital or liquidity but would only get dinged if they are deficient in both? Seems, uh, really favorable to the biggest banks. federalreserve.gov/newsevents/pre…
Secretary Bessent outlines a broad vision for eased bank oversight. Notable Trump admin is not burning 18+ months to get their people into place only to find out they don’t have the votes to enact their preferred policy changes, like the last crew. home.treasury.gov/news/press-rel…
Goldman keeps its 12 month recession risk at 30%, cites growth slowdown and job creation close to "stall speed." Feels like recent headlines touting the resilience of the economy could very easily have said the opposite.
WH spox @PressSec, answering q about whether Powell "will be allowed to finish his term." "The President talked about this ... he has no plans to fire the Fed chair...."
The Fed’s independence has been one of the most important & stabilizing developments in economic policy. Perhaps more importantly for the President, undermining the Fed’s independence would hurt his own economic and political goals. My @ProSyn column. project-syndicate.org/commentary/tru…
Canada is the top export market for American merchandise so far this year
.@howardlutnick: "Canada is not open to us. They need to open their market. Unless they're willing to open their market, they're going to pay a tariff ... I think the President is going to open between $300-$400 billion of opportunity for Americans."
With a blizzard of new levies on major nations and selected product sectors, Trump has lifted the average tax on imported goods from just above 2 percent in January to around 15 percent, the highest mark since the early 1940s. washingtonpost.com/business/2025/…
Warsh now has twice as likely a chance of being named the next Fed chair as Hassett, according to Polymarket. “No announcement by December” still in the lead. Not clear how meaningful this is, or what is driving the shifts…
Senate approves Trump’s bill to cut spending, sending it to the House, sparing some $$ for PEPFAR while slashing $1.1B for public broadcasting via @theodoricmeyer & @MariannaReports wapo.st/40Tf6wu
Trump floats firing Fed chair with GOP lawmakers, then backs off. The reversal came as Trump faced mounting pressure from Republicans, including his administration’s refusal to release files related to deceased sex offender Jeffrey Epstein washingtonpost.com/business/2025/…
Trump's grudge against the Fed's Jerome Powell New podast with @amacker by @washingtonpost washingtonpost.com/podcasts/post-…
A voice for print on a podcast, talking about the Fed... washingtonpost.com/podcasts/post-…
I'm considering opening a bank myself to give my family access to a cheaper source of funding.
Fed Gov. Barr is predicting that the ILC charter is "going to take off again." The FDIC gave a green light to more of these at a meeting yesterday.