US President Donald Trump has the authority to fire Federal Reserve Chairman Jerome Powell for good reason if there is evidence to support it, White House economic adviser Kevin Hassett said Sunday, and that the Fed "should be held fully accountable" for the cost overruns at its Washington headquarters. Hassett told ABC's "This Week" that Trump's decision to try to fire Powell over what the Trump administration calls a $700 million cost overrun "will depend largely on the answers we get to the questions Russ Vought has asked the Fed." Vought, the White House budget director, last week...
President Donald Trump said the US would send more Patriot air defense batteries to Ukraine, apparently in a shift in stance toward Russia after its efforts to negotiate a ceasefire failed. "I haven't agreed on the numbers yet, but they'll be getting some," the president told reporters on Sunday on his way back to the White House. "We'll be sending Patriots, which they desperately need." The announcement served as the backdrop for what Trump described as his "major statement" against Russia on Monday, as Moscow escalated its airstrikes against Ukraine. The US president has grown...
U.S. stocks edged lower Monday amid fears of an intensifying trade war after President Donald Trump slapped 30% tariffs on imports from Mexico and the European Union, continuing the volatile negotiations with his trading partners. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average dropped 80 points, or 0.2%, the S&P 500 index fell 10 points, or 0.1%, while the NASDAQ Composite slipped 12 points, or 0.1%. Trump imposes 30% tariffs on Mexico, EU Trump over the weekend released more letters outlining trade tariffs on major U.S. trading partners, this time imposing a 30% levy on...