The Federal Reserve is an independent organization, meant to be insulated from politics, and the Supreme Court suggested this year that President Donald Trump would need a reason, or cause, to fire Federal Reserve Chairman Jerome Powell.

Governor Christopher Waller's comments come as tensions between Fed Chair Jerome Powell and President Donald Trump have reached a boiling point in recent days.

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Thursday said the agency’s renovation of two of its buildings is in compliance with plans approved by a local commission, disputing a White House suggestion that they may have violated the law by deviating from those plans.

A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been h

It isn’t just the U.S. Other countries have also come to expect an independent U.S. central bank.

The Federal Reserve may already have the so-called shadow chairman that President Donald Trump has said he might soon appoint in a move that could be seen as part of a pressure campaign to lower interest rates and reduce government borrowing costs.

The escalating campaign by Donald Trump against the Federal Reserve chairman is unnerving the global economy. Ron Insana and Max Chafkin discuss on The 11th Hour.

“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.