—Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump's tariffs effect the economy, defying the steady stream of criticism from the White House, which wants lower borrowing costs. Powell, speaking in Sintra, Portugal, repeated his view that U.S….
Economic News
From Philly and the Pa. suburbs to South Jersey and Delaware, what would you like WHYY News to cover? The Federal Reserve Bank of Philadelphia has a new leader after nearly a decade. The Philadelphia branch oversees research in the Third Federal Reserve District, which includes southeastern Pennsylvania, South Jersey and Delaware.
There is also the factor of an outlook which believes the Federal Reserve will have to begin cutting interest rates in the mid-term which has been priced into the USD in recent weeks. If financial institutions have factored two interest rate cuts by the Federal Reserve, this could now begin to create headwinds for the EUR/USD as financial institutions…
The high seen early last week was a direct reflection of nervousness because of the Middle East conflict and fear of escalation, but a reversal lower quickly generated upon the news of a ceasefire agreement between Iran and Israel. The lows seen last Thursday likely developed on the notion the U.S Federal Reserve will have to consider cutting interest rates…
President Donald Trump stepped up his pressure on the Federal Reserve to lower borrowing costs Monday, accusing its chair, Jerome Powell, in a handwritten note of costing the country "a fortune" and demanding that he cut interest rates "by a lot." In a separate social media post Monday, Trump said Powell and his colleagues on the Fed's Board of Governors, who vote on…
President Trump on Monday shared a handwritten note to Federal Reserve Chair Jerome Powell urging him to lower interest rates, his latest attempt to push the central bank to do so. Trump posted on Truth Social complaining that Powell and the rest of the Federal Reserve board of governors "should be ashamed of themselves" for declining to lower interest rates.
It pains me to say that the United States appears to be now treading the familiar path that recently got an emerging market economy like Turkey into deep economic trouble. Like Turkey, the United States is increasingly disregarding central bank independence, persistently running large external current account deficits, continually running large budget…
—The head of the European Central Bank said inflation has become more unpredictable due to shocks like the COVID-19 pandemic and Russia’ s invasion of Ukraine— and that policymakers need to take the possibility of such extreme scenarios into account and communicate them to the public as well. “The world ahead is more uncertain, and that uncertainty is likely to…
—Congress is still hashing out the details of President Trump's "big, beautiful" budget bill, but one thing seems clear: Whatever passes will have major implications for student loans. Both the House-passed version and the proposal still being debated in the Senate include several changes to the federal student loan system, an overhaul Senate Republicans say…
KBRA releases a research report examining the resilience of its rated private equity and private credit firms. Amid ongoing trade tensions, tariffs, market volatility, and a possible economic slowdown, KBRA views alternative asset managers— particularly those geared toward PE and PC— as more resilient on average than other types of financial institutions.
On Thursday the GBP/USD tested highs around 1.37730, which had last been seen in February of 2022.– Not only did risk appetite return to financial institutions based on the ceasefire in the Middle East, but economic conditions in the U.S have created a notion that the U.S Federal Reserve will have to begin cutting the Federal Funds Rate no later than September,…
This of course has taken some of the“ risk premium” out of the market for crude oil, as tensions in the Middle East seem to be slowing down a bit. That being said, now that the situation in the Middle East has calmed down, I think we will focus on things like central bank buying, the idea that the Federal Reserve is going to cut later this year, and of course the overall…
“Cryptocurrency is a joke,” the president of the Federal Reserve Bank of Minneapolis said Thursday, sparking laughter from a Helena crowd. Thursday’ s gathering at the Delta Hotel was sponsored by the Montana Chamber Foundation and attended by about 100 people and moderated by Larry Simkins of Montana, who spent six years on the Minneapolis board.
U.S. President Donald Trump wants 1% interest rates, is making support for rate cuts a prerequisite for the next Federal Reserve chairman and hailed U.S. stock markets hitting record highs Friday. U.S. stocks have rebounded after dropping over investors' and Wall Street fears over Trump's tariffs' announced in April. Trump has reduced and delayed many of those…
It would be a major blow to the CFPB, which was created after the 2008 financial crisis to police potential bad actors in the financial services industry, and it would be a win for the GOP, who have largely wanted to make the CFPB go away since its creation. The CFPB is funded through the Federal Reserve, not the Congressional appropriations process.
NEW YORK- The dollar hit a three-and-a-half-year low against the euro and sterling on Thursday in a broad selloff as traders priced in the likelihood that the Federal Reserve will cut rates more than previously expected. Fed Chair Jerome Powell was interpreted as being more dovish this week in testimony to U.S. Congress. "Powell kind of opened the door to…
WASHINGTON— The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell said Tuesday, a stance directly at odds with President Donald Trump's calls for immediate cuts. "For the time being, we are well positioned to wait to learn more about the likely course of the economy…
President Trump said Wednesday he has a handful of people in mind to replace Federal Reserve Chairman Jerome Powell, who has resisted Mr. Trump's calls to lower interest rates. "I know within three or four people who I'll pick," Mr. Trump told reporters during a press conference at NATO's summit in The Hague. "We have no inflation," Mr. Trump said, listing reasons for the…
–Federal Reserve Chairman Jerome Powell told Congress on Tuesday that economic data merited lower interest rates but that tariffs could undo the central bank's fight to tame inflation. Under pressure from President Donald Trump to lower interest rates, Powell tried to avoid the political fray as he faced questions from Democrats and Republicans at a House…
