Financial markets are looking for more “fiscal discipline” from Washington, a top official at the Federal Reserve warned.

Yet precisely because Shelton revealed a streak of independent thought, her nomination was met with all sorts of criticism. Implied in her failure to attain approval was that independence at the Fed is much more an affectation than it is reality.

The Federal Reserve plans to shrink its workforce by about 10% over the coming years, bringing the U.S. central bank in line with President Donald Trump's broader efforts to streamline the federal government,

WASHINGTON — A top Federal Reserve official said Friday that massive uncertainty created by President Donald Trump's tariffs has caused some businesses to cut back on hiring and spending, threatening to slow the economy, but he added that it’s not yet ...

The Federal Reserve aims to cut 10% of its workforce over the next several years, Chair Jerome Powell told employees in a memo, according to multiple reports—following suit with the Trump administration’s efforts to reduce the size of the federal workforce despite the agency’s independence from the executive branch.

A federal judge said the president had no constitutional authority to fire members of the Privacy and Civil Liberties Board without cause.