Federal Reserve Chair Jerome Powell defended the bank's $2.5 billion headquarters renovation budget amid feud with Trump over interest rates.

President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.

The U.S. banking system is healthy, providing a strong foundation for the overall economy amid current uncertainties. Read what investors need to know.

Federal Reserve Chair Jerome Powell on Thursday said the agency’s renovation of its office complex in Washington complies with plans approved by a local commission, disputing a White House suggestion that they had violated the law by deviating from those plans.

Former president of the Federal Reserve Bank of Cleveland Loretta Mester says it's important that the Fed stays independent and that fiscal politics should not interfere with monetary policy makers and their decisions.

A federal judge on Thursday ruled that the firing of a Democratic commissioner at the Federal Trade Commission (FTC) by President Trump was illegal. U.S. District Judge Loren AliKhan, a Biden administration appointee,

“It’s by now widely agreed, almost all over the world: If you leave monetary policy in political hands, you’ll get too much inflation,” Alan Blinder, a professor of economics at Princeton University and former vice chairman of the Federal Reserve, told ABC News.

Michelle Bowman of the Fed emphasized financial inclusion and the need for innovation to serve unbanked populations at a conference.

What is the Federal Reserve — and why does it meet? The Federal Reserve is the central bank of the United States and the anchor of the country's financial system and economic health.

While investors worry about the markets, the Federal Reserve Bank of Philadelphia is raising the alarm about another economic indicator: credit card payments. According to the central bank, more than one in 10 Americans paid only the monthly minimum on their credit card debt in the fourth quarter of 2024.