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The Trump administration will focus on finding a replacement for Federal Reserve Chairman Jerome Powell this fall, Treasury Secretary Scott Bessent told CNBC on Thursday, adding that officials had “a lot of good candidates.” Bessent said it was up to the Fed to decide interest rates, although he added that if the central bank did not cut interest […]
The US central bank should consider giving less forward guidance about its monetary policy intentions, particularly in uncertain times, San Francisco Federal Reserve Bank President Mary Daly said on Sunday. “Words have power, which is a great tool. But words can be harder to reverse than the interest rate,” Daly said in remarks prepared for delivery to the Western […]
Federal Reserve officials wrapped up their final meeting of 2024 with splits surfacing over how many more interest rate cuts they should make given strong economic growth, lingering inflation and huge uncertainty ahead of Donald J. Trump’s return to the White House. Weeks later, they unanimously pressed pause on rate cuts and now appear unified […]
The Federal Reserve on Wednesday kept interest rates unchanged after its first meeting of the year – ignoring President Trump’s calls for rates to “drop immediately.” “The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the […]
At the Federal Reserve’s final gathering of 2024, Chair Jerome H. Powell announced that the U.S. central bank was embarking on a “new phase” in how it would set interest rates. The Fed planned to “move cautiously” with cuts going forward, Mr. Powell told reporters at the time, reflecting officials’ thinking that they could afford […]
Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes. Minutes from the meeting, released after the typical three-week lag, also showed clear division among the Fed’s 19 policymakers. […]
The Dow Jones Industrial Average slid to its worst losing streak in more than four decades as investor hopes that the Federal Reserve will aggressively cut interest rates next year continued to diminish. The central bankers wrap up their last two-day meeting of the year Wednesday, when they are widely expected to announce another quarter-point […]
Omar Marques | LightRocket | Getty Images Bitcoin rallied to a new all-time high before quickly pulling back as investors awaited an expected interest rate cut by the Federal Reserve later this week. On Monday, the price of the flagship cryptocurrency was last higher by less than 1% at $103,873.00, according to Coin Metrics, after […]
