Trump denies plan to fire Fed chair Powell
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Wall Street pauses near record highs
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Trump Threats, Fed Feuds Fail to Break Markets
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A healthy crop of earnings helped European stocks bust out of a four-day losing streak on Thursday, Wall Street was watching Netflix and the dollar bounced after U.S. President Donald Trump quashed talk he was about to fire Fed head Jerome Powell.
Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to boost a job market that looks to be weakening.
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.
Consumers' inflation expectations, by some measures, are also the highest in decades. Inflation has been above the Fed's 2% target for over four years, and the prospect of a dovish Fed under the stewardship of a new Trump-friendly Chair could keep it that way.
Markets got back to treading water this week, as inflation and tariff concerns have some analysts pushing the next interest rate cut to December.
James Bianco, Bianco Research president, joins 'Closing Bell Overtime' to talk the latest inflation read and why he believes the Federal Reserve cutting rates would be a mistake.
The Nasdaq rose to a record high on Thursday, leading a cautious climb across Wall Street's major indexes, as strong economic data lifted spirits and airline stocks took off on United Airlines' results.
U.S. stock indexes are ticking higher on Wednesday following a better-than-expected update on inflation across the country.