WASHINGTON— Federal Reserve Chair Jerome Powell gave little indication Wednesday of bowing anytime soon to President Donald Trump's demands that he cut interest rates. The Fed left its key shortterm interest rate unchanged for the fifth time this year, at about 4.3%. SOCIAL SECURITY: Treasury Secretary Scott Bessent said Wednesday that President Donald…
Economic News
He has repeatedly threatened to fire Federal Reserve Chairman Jerome Powell for not lowering interest rates and continued to denigrate his ability and intellect. First, the president cannot fire the Federal Reserve System chairman. Second, monetary policy decisions are made by the twelve-person FRS Open Market Committee— not the Federal Reserve chairman.
Georgia Secretary of State Brad Raffensperger has launched an investigation into a company accused of operating a Ponzi scheme that bilked investors while funding political campaigns. The announcement follows a lawsuit filed in mid-July by the U.S. Securities and Exchange Commission against Edwin Brant Frost IV and his company First Liberty Building…
According to news reporting originating in New York City, New York, by NewsRx journalists, research stated,“ We document capital misallocation in the U.S. investment-grade corporate bond market, driven by quantitative easing.”. Quantitative Easing and the Bond Market Subsidy of Prospective Fallen Angels. Journal of Financial Economics, 2025; 170. Journal of…
The U.S. Securities and Exchange Commission is launching Project Crypto, an initiative to modernize the securities rules and regulations to enable America's financial markets to move on-chain. Hunter Horsley, chief executive of crypto fund manager Bitwise, said:. And, I must note, in order to keep my compliance folks happy, that the views I express here today are…
President Trump fumed at Federal Reserve Chair Jerome Powell on Friday morning, urging the central bank board to wrest control from him after he opted again to not lower interest rates this week. Vice Chair of Supervision Michelle Bowman and board Gov. Christopher Waller— who are both in the running for Trump's nomination to replace Powell when his term is up in…
—The Federal Reserve announced Friday that governor Adriana Kugler will step down next week, opening up a spot on the central bank's powerful board that President Donald Trump will be able to fill. Kugler was appointed to the Fed's seven-member board of governors by former President Joe Biden in September 2023. She was the first Hispanic Fed governor, and prior…
Federal Reserve opts against cutting rates. WASHINGTON— Federal Reserve Chair Jerome Powell gave little indication Wednesday of bowing anytime soon to President Donald Trump's demands that he cut interest rates. The Fed left its key short-term interest rate unchanged for the fifth time this year, at about 4.3%.
Aug. 1— On Wednesday, Federal Reserve Chairman Jerome Powell did what needed to be done rather than what President Donald Trump wanted him to do. The Fed sets interest rates not to tip the national economy in one direction or the other but to keep it on an even keel. The Fed's job is to tweak interest rates here and there, raising them a bit one time and letting them fall…
Donald Trump is hardly the first president to pressure the Federal Reserve to lower interest rates or take some other action the White House deems necessary to boost the economy and shield the commander-in-chief from the fallout that comes when voters can't make ends meet. President Lyndon B. Johnson did it 60 years ago, summoning William McChesney Martin,…
—President Donald Trump on Friday called for the Federal Reserve's board of governors to usurp the power of Fed Chair Jerome Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates. "The Fed chair has been subjected to vicious verbal attacks by the Republican president over several months. The Fed has the responsibility of…
Not since World War II has an economy such as in the United States had to transition so dramatically. Europe benefited from the Marshall Plan, which included generous protections in terms of tariffs for Europe and the rest of the world at the expense of U.S. businesses. Unfortunately, unlike at the end of World War II, the Federal Reserve is operating contrary to…
Donald Trump is hardly the first president to pressure the Federal Reserve to lower interest rates or take some other action the White House deems necessary to boost the economy and shield the commanderin-chief from the fallout that comes when voters can’ t make ends meet. President Lyndon B. Johnson did it 60 years ago, summoning William McChesney Martin, then…
–The Federal Reserve on Wednesday held its key interest rate steady as expected, but two of President Donald Trump's appointees voted to lower rates. Trump appointed FOMC governors Michelle Bowman and Christopher Waller wanted to cut the rate by 1/ 4 percentage point. Chairman Jerome Powell was joined by governors John Williams, Michael Barr, Susan Collins, Lisa…
The average 30- year fixed-rate mortgage rose one basis point to 6.85% in the week ending July 30, according to rates provided to NerdWallet by Zillow. The Federal Reserve just voted to keep short-term interest rates the same as central bankers continue their "wait-and-see" approach. If incoming data points to cooling inflation numbers, it will likely boost…
The Federal Reserve held interest rates steady this week despite demands for lower rates from President Trump, Republicans in Texas released a proposal for a new state congressional map, and the US special envoy to the Middle East is traveling to Israel at a moment when the UN warns Gaza is on the verge of all out famine. Today’ s episode of Up First was edited by…
Donald Trump is hardly the first president to pressure the Federal Reserve to lower interest rates or take some other action the White House deems necessary to boost the economy and shield the commanderin-chief from the fallout that comes when voters can’ t make ends meet. President Lyndon B. Johnson did it 60 years ago, summoning William McChesney Martin, then…
U.S. stocks settled lower on Wednesday, with the Dow Jones index falling more than 150 points during the session after Federal Reserve Chair Jerome Powell said "no decision" has been made on a September rate cut. On the economic data front, U.S. pending home sales declined by 0.8% from the previous month in May, following a 1.8% gain in April. The U.S. economy expanded at…
U.S. stocks settled lower on Wednesday, with the Dow Jones index falling more than 150 points during the session after Federal Reserve Chair Jerome Powell said "no decision" has been made on a September rate cut. On the economic data front, U.S. pending home sales declined by 0.8% from the previous month in May, following a 1.8% gain in April. The U.S. economy expanded at…
