Investors, not the Fed, control the interest rates that matter most to businesses and consumers. They might demand higher returns if the central bank’s independence comes into question.

In 1997, billionaire Carlyle co-founder David Rubenstein hired a then-relatively unknown member of the George H.W. Bush administration named Jerome Powell. Over the course of eight years, Powell led the private equity firm's industrial group and was a partner.

After rumors spread that he was about to sack the Federal Reserve leader and stocks dropped, the president told reporters that he wasn't "planning on doing anything."

Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.

TheStreet. In a sudden turn of events, President Donald Trump said he was "not planning on doing anything" to get rid of Federal Reserve Chair Jerome Powell, reported CNBC. This occurred after he mentioned the idea during a private meeting with congressional Republicans,

Jerome Powell's net worth is estimated to be between $20 and $50 million. Learn more about the Fed Chair's career and net worth.

THE PESO plunged against the dollar for a fourth consecutive session on Thursday and hit a fresh three-week low amid US President Donald J. Trump’s flip-flopping statements on the fate of Federal Reserve Chair Jerome H.

The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.