The result is a Fed whose political independence and market credibility are as shaky as they have been since the late 1970s and early 1980s. And that is bad news for a central bank that, in the next ...

The U.S. financial system relies less on bank lending than in the past ... be too late to avoid a more serious employment downturn by the time they see that evidence, a point Powell acknowledged ...

President Trump wants lower interest rates. Firing Fed Chair Jerome Powell, as Trump has suggested he might do, would only push rates higher.

If Trump really wants lower rates, however, the best person to fire would be himself, not Powell. If Trump had not enacted a vast set of reckless tariffs during the past two months, the Fed would ...