Trump calls Fed Chair Jerome Powell a "fool" for keeping interest rates steady
CBSN
President Trump on Thursday criticized Federal Reserve Chair Jerome Powell for holding interest rates steady at the Fed's May 7 meeting, calling him a "fool" for acting "too late" in cutting the central bank's benchmark rate.
Mr. Trump's post on his Truth Social app is the latest in a string of criticisms he's launched at Powell for holding rates steady this year. Meanwhile, the Bank of England on Thursday cut its main interest rate by a quarter of a percentage point to 4.25% amid concerns over the potential shock to global growth emanating from the tariff policies of the Trump administration.
The Federal Reserve's last rate cut was made in December 2024, when the central bank lowered the rate to a range of 4.25% to 4.50%, where it still stands.
Dalton, Georgia — Local authorities in Dalton, Georgia, on Monday dismissed the traffic charges that led Immigration and Customs Enforcement to detain a 19-year-old Mexican-born college student who has lived in the United States since she was 4.
The Trump administration is ending a program that offered deportation protections for thousands of people from Afghanistan.
A bitcoin mining firm backed by President Trump's son Eric will go public this year, the company announced Monday, deepening the Trump family's interest in cryptocurrency.
A U.K. court Monday handed down jail terms of up to 10 years to six Bulgarians convicted for belonging to a Russian espionage cell described as like something from a "spy novel."
A massive change could soon be in the works for the 71 million Americans on Medicaid, with House Republicans unveiling new legislation on Sunday that would require many enrollees in the government health care program to prove they are either working, volunteering or in school to receive coverage.
With home prices near a record high and mortgage rates remaining elevated, renting a place to live around the U.S. is today considered a better alternative to buying. But here's the catch: Rents are surging, too.
California Gov. Gavin Newsom is planning Monday to make a significant push to address homeless encampments.
A plane carrying dozens of White South Africans arrived at Dulles International Airport on Monday, a State Department official said, after the Trump administration granted them refugee status in the United States.
The Department of Justice's second-in-command can add "librarian" to his résumé. Todd Blanche has been appointed acting Librarian of Congress, the Justice Department confirmed Monday.
Washington — The Defense Department has spent more than $21 million on flights to Guantanamo Bay amid the Trump administration's migrant deportation efforts, according to figures shared in a letter sent to Congress and obtained by CBS News.
Iowa Republican Rep. Randy Feenstra plans to announce a run for governor as soon as this week, two sources told CBS News, setting the stage for what could become a politically tense primary contest in the GOP.
Consumers who own a Siri-enabled device — including iPhones, MacBooks and AppleTVs — may be eligible to file a financial claim as part of Apple's $95 million settlement over allegations that the voice assistant eavesdropped on them.
Pope Leo XIV called free speech and the press a "precious gift" as he asked for the release of imprisoned journalists. He made the comments during an audience with some of the 6,000 journalists from around the world who descended on Rome over the past week to cover his election as the first U.S.-born pontiff.