Closing Bell Closing Bell Overtime: Trump Tours Fed with Powell; CSX CEO On M&A Rumors 7/24/25
Jul 24, 2025
Eamon Javers, a seasoned White House correspondent, joins CNBC contributor Steve Liesman to discuss President Trump's rare visit to the Federal Reserve. They explore the political fallout from Trump's questions about interest rates and economic policy alongside Fed Chair Jerome Powell. The conversation highlights concerns over the Fed's independence and the implications of Intel’s earnings amidst political pressures. CSX CEO Joe Hinrichs weighs in on industry consolidation rumors, adding layers to the discussion on market dynamics.
AI Snips
Chapters
Transcript
Episode notes
Trump's Public Pressure on Fed
- President Trump used the Fed building renovation overruns as a symbolic cudgel against Fed Chair Powell.
- This public pressure is unusual and tests the Federal Reserve's independence.
Fed Independence at Risk
- Public politicization of Fed Chair Powell risks undermining the Fed's independence.
- Decisions should be based on economic data, not political pressure.
Testing Fed's Strength and Economy
- Trump's challenge exposes the Federal Reserve's resilience to political pressure.
- A strong economy and 'hot' growth mean the Fed might not lower interest rates soon.