Trump backs off his push to fire Fed’s Powell; MidFlorida Credit Union buys Tallahassee bank; FedNow draws 1,300 financial firms; FDIC aims to reduce workforce by 1,250
Less than a week after saying the Federal Reserve chair’s “termination cannot come fast enough,” the president said Tuesday he has “no intention” of ousting the central bank chief.
Acquiring Prime Meridian Bank would give MidFlorida a physical presence in the state’s panhandle. It's the credit union’s third bank purchase since 2019.
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An internal memo sent Monday aligns with earlier reports that the Department of Government Efficiency was targeting the FDIC for staff cuts. Cuts at another agency, the CFPB, remain up in the air after a judge blocked them.
A 200-person workforce would allow the bureau to fulfill statutory obligations “and better aligns with the new leadership’s priorities and management philosophy,” attorneys for the agency said.
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