Scott Horsley

But he's also insisted Trump doesn't have the authority to fire him. And when Trump was asked about that on Meet the Press, he appeared to accept that Powell's going to stick around for a while.

But he's also insisted Trump doesn't have the authority to fire him. And when Trump was asked about that on Meet the Press, he appeared to accept that Powell's going to stick around for a while.

No, I don't think so. I don't see it. Now, Powell's term as chairman expires, though, in 2026. And at that point, Trump may have the opportunity to install a more malleable leader at the central bank.

No, I don't think so. I don't see it. Now, Powell's term as chairman expires, though, in 2026. And at that point, Trump may have the opportunity to install a more malleable leader at the central bank.

No, I don't think so. I don't see it. Now, Powell's term as chairman expires, though, in 2026. And at that point, Trump may have the opportunity to install a more malleable leader at the central bank.

We'll be watching.

We'll be watching.

We'll be watching.

You're welcome.

You're welcome.

You're welcome.

Trump plans to nominate former Missouri Congressman Billy Long to head the Internal Revenue Service. In announcing the pick, Trump highlighted Long's experience as one of the premier auctioneers in the country, a talent the congressman demonstrated while drowning out a heckler during a House committee hearing back in 2018.

Trump plans to nominate former Missouri Congressman Billy Long to head the Internal Revenue Service. In announcing the pick, Trump highlighted Long's experience as one of the premier auctioneers in the country, a talent the congressman demonstrated while drowning out a heckler during a House committee hearing back in 2018.

The IRS has beefed up enforcement under President Biden to go after wealthy tax cheats, but that effort could be reversed in the new administration. Trump also announced plans to nominate former Georgia Senator Kelly Loeffler to head the Small Business Administration. Scott Horsley, NPR News, Washington.

The IRS has beefed up enforcement under President Biden to go after wealthy tax cheats, but that effort could be reversed in the new administration. Trump also announced plans to nominate former Georgia Senator Kelly Loeffler to head the Small Business Administration. Scott Horsley, NPR News, Washington.

Investors are betting that the Fed will cut interest rates by another quarter percentage point at the central bank's meeting later this month. And Waller's comments reinforce that view. Still, Waller says he'd be open to holding rates steady if incoming data point to more stubborn pricing pressure.

Investors are betting that the Fed will cut interest rates by another quarter percentage point at the central bank's meeting later this month. And Waller's comments reinforce that view. Still, Waller says he'd be open to holding rates steady if incoming data point to more stubborn pricing pressure.

The Fed governor says while inflation has come down a lot in the last year and a half, the most recent price check suggests progress may be stalling.

The Fed governor says while inflation has come down a lot in the last year and a half, the most recent price check suggests progress may be stalling.

Waller and his colleagues are also keeping a close eye on the job market. We'll get a report card on November job gains later this week. Scott Horsley, NPR News, Washington.