Business & Economy
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Business & Economy
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Trump eyes Fed as tariffs, inflation collide
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President Trump is zeroing in on the Federal Reserve and setting up a fight with its leader, Jerome Powell.
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The president is eager for the Fed to speed up planned interest rate cuts and ease pressure on the economy amid deepening concern about his trade agenda.
The Fed, in turn, is preparing for a potential price shock driven by Trump’s tariffs, which would delay any rate cuts, even if the economy weakens.
But as the White House takes aim at the independence of agencies, Powell is unlikely to bow to being forced out, even if tensions with the White House were to hit a critical point before his term is up next year.
Ian Katz, director at Washington research firm Capital Alpha Partners, said he doesn’t expect Trump to try to fire Powell, given the turmoil it could cause for markets.
Even so, Katz warned, “given how aggressive Trump has been in asserting as authority so far this term, you can’t rule out anything.”
Read the full report at TheHill.com.
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Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond:
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A federal judge in Texas has set a June trial date for the U.S. government’s years-old conspiracy case against Boeing for misleading regulators about the 737 Max jetliner before two of the planes crashed, killing 346 people.
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Leland Dudek, acting commissioner for the Social Security Administration (SSA), said as of Monday the Department of Government Efficiency (DOGE) no longer has access to the agency’s systems in an effort to comply with court orders.
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The FBI confirmed Monday it has established a task force to investigate the wave of vandalism and arson incidents targeting Tesla in recent weeks.
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U.S. consumer confidence continued its sharp 2025 decline as Americans’ views about their financial futures slumped to a 12-year low, driven by rising anxiety over tariffs and inflation.
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GOP leaders meet in search of path forward
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Welcome to Tax Watch, a new feature focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year.
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Republican congressional leaders met Tuesday with Treasury Secretary Scott Bessent as the GOP tries to find common ground on a strategy to move President Trump's legislative agenda.
The meeting, which was expected to include House Speaker Mike Johnson (R-La.) and Senate Majority Leader John Thune (R-S.D.), comes amid divisions between the chambers over how to turn Trump's lengthy list of policy proposals into law.
The House has heeded Trump's call for "one big, beautiful bill" and passed a budget resolution that could serve as the vehicle for tax cuts and extensions, energy policy and a broad range of other priorities.
Passing the budget resolution was a small but significant accomplishment for the House GOP, which united despite a small margin to put the ball in the Senate's court.
But top GOP senators have called for moving Trump's agenda in two separate bills, given the struggles that may come in bringing all Republicans behind one measure.
— Sylvan Lane
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Upcoming news themes and events we're watching:
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The Congressional Budget Office on Wednesday is set to release its X-Date projection for when the government risks breaching the debt limit.
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Branch out with more stories from the day:
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The genetic testing company 23andMe has filed for bankruptcy, prompting people who’ve used the service …
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Business and economic news we've flagged from other outlets:
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Stocks waver as Wall Street digests Monday’s strong rally (CNBC)
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America improved its infrastructure in the last 4 years – but not by much (CNN)
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US and Ukraine Hail Black Sea Truce as Kremlin Sets Conditions (Bloomberg)
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Top stories on The Hill right now:
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The Department of Homeland Security (DHS) said it is pausing review of green card applications for some refugees and asylees, leaving in limbo those who came to the U.S. after fleeing unrest. Read more
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President Trump moving student loans from the Education Department to the Small Business Administration (SBA) is rattling those affected, who say it is prime evidence that the White House has no real plan for its efforts to dismantle the Department of Education. Read more
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Opinion related to business and economic issues submitted to The Hill:
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You're all caught up. See you tomorrow!
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Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Trump doubles down on Fed rate cut pressure President Trump pressured the Federal ...
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Director of National Intelligence Tulsi Gabbard and CIA Director John Ratcliffe will return to Capitol Hill to testify before the House Intelligence Committee on Wednesday.
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Director of National Intelligence Tulsi Gabbard and CIA Director John Ratcliffe will return to Capitol Hill to testify before the House Intelligence Committee on Wednesday.
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If judges are allowed to continue rewriting the rules of governance from the bench, we risk becoming a nation ruled by lawsuits rather than laws.
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