It’s part of a larger push by Trump-aligned officials to probe the Fed and challenge Chair Jerome Powell’s leadership.

The president hasn’t named a successor to Jerome H. Powell, but his insistence on someone who will lower interest rates has already raised doubts about their credibility.

The Federal Reserve on Thursday proposed tweaks to how it evaluates large banks by making it easier for them to be considered "well managed," removing a hurdle for potential acquisitions and other restrictions.

Russell Vought, director of the Office of Management and Budget, said Federal Reserve Chair Jerome Powell "has grossly mismanaged the Fed."

Fed officials are increasingly split on rate cuts, though UBS's Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”

Federal Reserve Governor Christopher Waller said on Thursday the U.S. central bank still has some ways to go in shrinking the size of its holdings, in comments that offer a potential resting size for the ongoing drawdown,

Under a proposal put up for comment Thursday, the Fed would allow banks with one "deficient" rating to still be considered well-managed

There’s a great story on the front page of the Wall Street Journal today, called “Two Kevins Battle to Be Next Fed Chair in Trump’s Apprentice-Style Contest.”