PORT ANGELES— Diane C. Davis has been appointed the board of directors for First Fed Bank and its holding company, First Northwest Bancorp. In March, First Financial Northwest, the holding company for First Financial Northwest Bank, was acquired by Global Federal Credit Union. First Fed, three companies involved in the water vending business— Water Station…
Economic News
Despite losing $235 billion, Federal Reserve Chairman Jerome Powell somehow still has a job— for now. His mismanagement of the Fed has not only badly hamstrung monetary policy for years but has stuck the taxpayer with a massive bill atop a general cost-of-living crisis. It’ s no wonder calls for his resignation are growing.
The report underscores the lack of transparency and accountability at the Federal Reserve, which remains exempt from a full audit by Congress or the Government Accountability Office. "It's long past time for Congress to stop shirking its duty and hold the Federal Reserve accountable." Throughout my service in Congress, I have worked to audit the Fed, and this…
—The European Central Bank has left interest rates unchanged as it waits to see the impact of U.S. President Donald Trump’ s tariffs on the economy before deciding whether to cut rates again. The ECB has already cut rates eight times since June of last year. The monetary authority for the 20 countries that use the euro currency has been lowering rates to support…
—After months of criticizing Federal Reserve Chair Jerome Powell, President Donald Trump took the fight to the Fed’ s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project. Trump charged that the renovation would cost $3.1 billion, much higher than the Fed's $2.5 billion figure.
The president's comments on Tuesday came during an Oval Office meeting with President of the Republic of the Philippines Ferdinand R. Marcos Jr. A reporter asked Trump about the proposal to help the U.S. housing market. Trump has pushed Federal Reserve Chairman Jerome Powell to lower interest rates.
Business loans First Fed Bank made to an Everett-based company that was selling water vending machine franchises starting in 2020 were the start of a relationship that could end up in King County Superior Court next year. In a June 13 U.S. Securities and Exchange Corporation filing, First Fed strongly disputed the accusations and said it would "vigorously…
—This week brings another opportunity for Fed Chair Jerome Powell to defend the central bank's cautious stance as he addresses markets that increasingly question whether patience remains the right strategy. Yet cracks are emerging within the Federal Open Market Committee. Governor Christopher Waller has articulated a compelling alternative view that…
U.S. stock futures rose on Wednesday after ending on a mixed note on Tuesday. Additionally, Japan will open its markets to U.S. cars, trucks, rice, and other agricultural products, while agreeing to a reciprocal tariff of 15% on U.S. imports. The CME Group' s FedWatch tool‘ s projections show markets pricing a 95.3% likelihood of the Federal Reserve keeping the current…
U.S. Federal Reserve Chair Jerome Powell is a "numbskull" who has kept interest rates too high, but he will be out in eight months, President Donald Trump said at a news conference on Tuesday. In eight months, he'll be out, "he said from a meeting at the White House with Philippine President Ferdinand Marcos Jr. Lately, the White House has intensified Trump's pressure…
By the time a student-led protest movement erupted into a full-scale revolution in Bangladesh in July 2024, the country's economy was already in free fall. Meanwhile, several actions of India, Bangladesh's powerful neighbor and major trading partner, further destabilized an already volatile situation. The government in New Delhi, which had been close to the…
Federal Reserve Chair Jerome Powell spoke of a need to unify and maintain a "safe, sound and efficient" U.S. banking system within hours of Treasury Secretary Scott Bessent calling the embattled central bank chief a "good public servant" and suggesting Powell finish his term despite ongoing fire by the White House. Powell, who has given no indication he plans to…
By the time a student-led protest movement erupted into a full-scale revolution in Bangladesh in July 2024, the country’ s economy was already in free fall. The government in New Delhi, which had been close to the Hasina government, began exerting economic, political and diplomatic pressure on Bangladesh after providing refuge to numerous leaders and…
The Nasdaq 100 continues to show few signs of slowing down, this as it sustains record territory even as supposedly major shadows hover via the Federal Reserve policy and tariff deadlines. The Nasdaq 100 has sustained momentum above the 23,000 level since Thursday of last week. Intriguingly, while questions are being asked about Federal Reserve uncertainty…
Keep in mind that the US dollar of course is being thrown around by the idea of what the Federal Reserve may or may not do, as traders are looking for some type of handout in the form of lower interest rates. Ironically, the economic numbers coming out the United States have not shown an economy that is cooling off, so whether or not the Federal Reserve will actually cut…
This week brings another opportunity for Fed Chair Jerome Powell to defend the central bank's cautious stance as he addresses markets that increasingly question whether patience remains the right strategy. Yet cracks are emerging within the Federal Open Market Committee. Governor Christopher Waller has articulated a compelling alternative view that…
Blaming the Federal Reserve for economic disturbances is a common political pastime in the U.S. Still, even by their usual standards, politicians' recent attacks on the Fed are unprecedented and risk serious damage to the Fed's credibility. President Donald Trump has called Fed Chair Jerome Powell a "numbskull" and a "stupid person." "Commerce Secretary Howard…
A decline in immigration into the U.S. could impact economic growth in the future, according to a new report from the Federal Reserve Bank of Dallas. At the beginning of this year, the country was still seeing immigrants come into the labor force, said Pia Orrenius, vice president of research at the Federal Reserve Bank of Dallas and co-author of the report.
Potential contenders to replace the head of the U.S. central bank are lining up for that coveted position. Jerome Powell, the chairman of the U.S. Federal Reserve, is now on President Donald Trump's naughty list. The White House and its allies have intensified their assault on the Fed chairman.
