The price of fuel has risen significantly since the U.S.- Israel war on Iran began on Feb. 28, closing a key international shipping lane for oil and gas, the Strait of Hormuz. The average price for a gallon of gas in Texas was $2.55 in early February, according to AAA. "If I go grocery shopping one day, I'm definitely not going to get a full tank of gas the same day because it's…
Economic News
The Central Bank of Liberia has maintained its key monetary policy rate at 16.25 percent, signaling continued caution as global economic instability, inflationary pressures, and domestic financial vulnerabilities shape Liberia's economic outlook. During the reading of Communiqué No. 26 on Thursday, April 30, Executive Governor Henry F. Saamoi, who chairs…
JACKSON, Miss.– Mississippi State Treasurer David McRae has urged the Federal Reserve to end debanking. The effort came in response to a proposed Federal Reserve rule change to prohibit "reputation risk." "The previous reputation risk allowance was an ill-defined, weaponized concept that has picked winners and losers, punished lawful businesses, and…
Federal Reserve Chair Jerome Powell plans to stay on as a central bank governor for an undetermined period of time when his leadership term ends next month, amid hopes that ongoing political attacks on the institution will settle down. "After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined," Powell told a news…
2026 APR 30– By a News Reporter-Staff News Editor at Economics Daily Report– Current study results on Investment have been published. According to news originating from Washington, District of Columbia, by NewsRx correspondents, research stated,“ Activity and inflation responded slowly to the Federal Reserve’ s rate hikes in 2022. Our news journalists obtained…
NEW YORK— More jumps for oil prices sent tremors through the U.S. bond market on Wednesday, along with hints that some Federal Reserve officials don’ t want to cut interest rates any time soon. But fat profit reports from Starbucks and other big companies helped the U.S. stock market remain resilient despite that. Oil prices have jumped this week as President Donald…
—President Trump's pick to lead the Federal Reserve, Kevin Warsh, has said he wants to bring“ regime change "to the central bank, but if confirmed by the Senate he will find a Fed already transformed by the White House's attacks. Outgoing chair Jerome Powell— who announced he will remain on the board of governors for a“ period of time, to be determined”— has also shown a new…
The average long-term U.S. mortgage rate rose this week, pushing up borrowing costs for prospective homebuyers in the midst of the spring homebuying season. This week’ s uptick in the average rate on a 30- year home loan follows a rise in the yield on U.S. 10- year Treasury bonds, which lenders use as a guide to pricing home loans. The 10- year Treasury yield was at 4.39%…
Nobel laureate examines future of Federal Reserve leadership and independenceand how to address future financial crises. From setting interest rates to keeping inflation in check, the Federal Reserve sits at the center of some of the most important economic decisions shaping our daily lives. Paul Rand: What's next for the Federal Reserve?
–The Federal Reserve wrapped up what could be its last meeting under current Chair Jerome Powell on Wednesday with a decision to hold rates steady, in line with market predictions. "The U.S. economy has been expanding at a solid pace. Wednesday also saw Fed Chair nominee Kevin Warsh clear the last hurdle in his confirmation process before the final Senate vote, with…
WASHINGTON— Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, cleared a key procedural hurdle Wednesday, opening the way for him to succeed Jerome Powell next month amid the White House's unprecedented efforts to exert control over the world's most powerful central bank. The Senate Banking Committee voted 13-11 along party lines to…
McLean, Va. In what is likely Jerome Powell's last meeting as chair of the Federal Reserve, the committee opted to leave the benchmark interest rates steady at a target range of 3.5% to 3.75% at their first meeting of 2026. While the job market has been an area of focus for the Federal Reserve since the last meeting, Chair Powell also pointed to strong economic growth…
President Donald Trump's undeclared war with Iran and his sweeping tariffs are increasing costs and dampening the economic outlook, some business and community leaders have told the Federal Reserve Bank of Cleveland. A fragile cease-fire is in place, but Iran continues to restrict access to the Strait of Hormuz— a chokepoint for global energy, fertilizer and…
The following information was released by the office of Arizona Senator Ruben Gallego:. Today, Senator Ruben Gallego, a member of the Senate Committee on Banking, Housing, and Urban Affairs, voted against Kevin Warsh to be Chair of the Federal Reserve. "The Federal Reserve is critical to ensuring Americans can afford groceries, find a job, buy a home, and much more.
Senators Angela Alsobrooks, Ruben Gallego, Elizabeth Warren, Chris Van Hollen, Tina Smith, Raphael Warnock, Andy Kim, and Lisa Blunt Rochester called on Federal Reserve Chair nominee Kevin Warsh to clarify discrepancies between his testimony before the Senate Committee on Banking, Housing, and Urban Affairs andpublicstatementsfrom President Trump…
Today, U.S. Representatives Juan Vargas, Ranking Member of the Monetary Policy Task Force, and Maxine Waters, the top Democrat on the House Financial Services Committee, issued the following statement in response to the Senate Banking Committee's expected approval of Trump's Fed Chair nominee, Kevin Warsh. These and other actions were designed to intimidate…
—Soaring oil prices from the Iran war pushed inflation higher in Europe in April, as growth continued to underperform in a worrying combination both for consumers and policymakers at the European Central Bank. Rising inflation has raised concerns it may become built into the economy along with slow or nonexistent growth, a policy conundrum dubbed“…
—The Bank of England kept its main interest rate on hold at 3.75% Thursday and hinted of hikes to come as policymakers assess the economic impact of the Iran war and Tehran’ s effective closure of the Strait of Hormuz, through which a fifth of the world’ s crude passes. Other central banks have also held rates this week, including the U.S. Federal Reserve, the Bank of…
Jerome Powell heads his last meeting at the head of the Federal Reserve of the United States on Wednesday, April 29. The nominee to succeed him, Kevin Warsh, is an economist and former monetary policy chief who served as a member of the Fed's Board of Governors from 2006 to 2011.. Core PCE automatically removes only volatile food and energy prices and is supposed to…
