Federal Reserve governance
Powell said in congressional testimony that he does not believe a U.S. president can remove members of the Federal Reserve Board of Governors.
Feb 15, 2025 · QQQ/SPY Market Review · 5 headlines
U.S. markets were closed, leaving QQQ and SPY unchanged at Friday's regular close. Saturday's reported developments centered on Powell's view of presidential authority over Federal Reserve governors, Ukraine's mineral-reserve negotiations and European defense, alleged banking restrictions on crypto firms, and possible changes involving Intel's factories and chip-design business.
Published
Powell said in congressional testimony that he does not believe a U.S. president can remove members of the Federal Reserve Board of Governors.
Reports said Ukraine rejected a proposal tied to 50% of its mineral reserves, while Zelenskyy called for European countries to create a joint army.
Crypto advocates challenged alleged banking restrictions, while reports said TSMC and Broadcom had separately studied Intel manufacturing and design assets.
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