Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.

The U.S. dollar rose alongside Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices.

Federal Reserve Chair Jerome Powell has asked the central bank's inspector general to review its $2.5 billion headquarters renovation project, which has become a key focus of Trump administration attacks,

A new "Frequently Asked Questions" page on the Federal Reserve's website defends the central bank's recent renovation project — and responds to many Trump administration criticisms of it. Office of Management and Budget Director Russell Vought slammed the renovation project and said he would pursue an investigation.

Trump recently summed up his approach when talking to reporters about trade talks with other countries. "They don't set the deal," he said. "I set the deal."

The process to choose the next head of the Federal Reserve is getting under way, Treasury Secretary Scott Bessent said, suggesting that when current Chair Jerome Powell is replaced, he should also step down from the board.

U.S. President Donald Trump says the Federal Reserve should set its benchmark interest rate at 1% to lower government borrowing costs, allowing the administration to finance the high and rising deficits expected from his spending and tax-cut bill,

President Trump has renewed calls for Federal Reserve Chair Jerome Powell to resign, criticizing the Fed for not cutting interest rates.