Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

The Supreme Court said in May that it could block any attempts by the White House to dismiss Powell, noting as part of a separate ruling that the Fed “is a uniquely structured, quasi-private entity.”...

His exact position on what should be the fate of FEMA has been hard to nail down.

President Donald Trump and first lady Melania Trump visited Texas to survey the damage from last week’s devastating floods.

President Trump responded that "only a very evil person would ask a question like that," before praising the emergency response.