Will Trump Whitehouse Veto Powell Over FOMC? Federal Reserve News Today, PMI, Non-Farm, and Jobless Claims Give Pre-FOMC Clues

In Federal Reserve news, today, the long-running Trump-Powell tension is back at center stage as fresh FOMC clues hint at a potentially decisive December meeting. The mix of weaker labor readings, uneven PMI data, and a Fed shifting away from quantitative tightening has turned routine updates into political fuel.

🚨 LMFAO! President Trump is nuking Jerome Powell right now in the Cabinet meeting

“We have a guy that’s a stubborn OX who probably doesn’t like your president, your favorite president!”

“We have an incompetent Fed Chair, a real DOPE. Who should reduce rates!” 🔥

“Well be… pic.twitter.com/5Wh2AOyA3Y

— Eric Daugherty (@EricLDaugh) December 2, 2025

The Federal Reserve officially ended QT on December 1, and we can see the move as the first clear step toward a more accommodative stance, or something Trump has been demanding for years. This overlap between policy shifts and Trump-Powell criticism is noticeable, especially as markets now lean heavily toward a December rate cut.

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Today, The News on Trump-Powell Pressure Builds as Federal Reserve QT Ended

Trump has complained for months that Powell is dragging his feet on easing, framing the delay as a costly error that balloons interest payments on national debt. In classic Trump fashion, he hasn’t held back: he has labeled Powell everything from “grossly incompetent” to “a stubborn moron” and even an “American disgrace.”

🚨 JUST IN: President Trump calls Jerome Powell “one of the dumbest, most destructive people in government” and an “American disgrace” after he refuses to cut interest rates pic.twitter.com/JkFidLfReo

— Eric Daugherty (@EricLDaugh) June 19, 2025

These remarks, now circulating again in today’s Federal Reserve news coverage, tie directly into his push for aggressive rate reductions, sometimes as low as 1%. Trump has even cited backing from figures like Jamie Dimon, the CEO of JPMorgan, to support his argument.

💥BREAKING:

🇺🇸 JPMORGAN CALLS ITS DECEMBER RATE-CUT PUSH A “PIVOTAL SHIFT” IN MONETARY POLICY, SIGNALING MORE LIQUIDITY AND A SOFTER FED INTO 2026. pic.twitter.com/z5c8I6NjJO

— Crypto Emperor (@Cryptoemperor06) December 1, 2025

Meanwhile, the newest economic releases supply fresh FOMC clues. Private payrolls for November fell noticeably, and initial jobless claims crept higher, a combination that usually favors dovish decision-making.

The ISM services PMI also dipped, supporting the notion that activity is cooling more quickly than the Fed had expected. Analysts say these developments align more with Trump’s desire for immediate action than with the more cautious voices inside the Board.

💥BREAKING:

🇺🇸 US NOV. ISM SERVICES PMI AT 52.6 VS 52.4; EST. 52.1.

BULLISH FOR MARKETS! 🚀 pic.twitter.com/WY2h7V1JBI

— Crypto Rover (@cryptorover) December 3, 2025

Trump has openly said he would fire Powell if rules allowed it. With Powell’s term ending in May 2026, Trump claims he has already chosen a successor, though he hasn’t revealed the name.

In the news today, names like Kevin Hassett, Scott Bessent, and even Michelle Bowman have been floated as possible contenders, the sort of picks that would shift the Federal Reserve from its current hawkish leaning to a more cut-friendly majority.

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Pre-FOMC Clues Show a Split Committee as Friction Rises

Recent minutes reveal deep divisions over the 2025 policy. Some officials warn that cutting too soon risks reanchoring inflation, while others believe the weakening labor backdrop justifies a December move.

BofA Global Research argues that the rise in jobless claims and soft non-farm revisions are among the strongest FOMC clues pushing the committee toward easing, even if the declining employment rate has not intensified.

(source- Bank of America)

Today, as December goes on, news on the Federal Reserve shows a committee leaning toward a cut but bracing for dissent. Powell must navigate those internal fractures while absorbing nonstop attacks from Trump.

What’s going to happen? The result could shape not just December’s move, but the direction of 2026’s entire monetary space.

Stay bullish!

DISCOVER: Crypto News Updates, December 4

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