In what was expected to be a contentious Federal Reserve meeting, policymakers on Wednesday instead emerged with a nearly unanimous voice to cut interest rates by a quarter-point.
The Federal Reserve is facing economic uncertainty and political pressure as it meets this week to decide whether to cut interest rates.
President Donald Trump’s goal of appointing a majority of the Federal Reserve’s board of governors faced a setback Tuesday when a court blocked his unprecedented attempt to fire Lisa Cook.
Federal Reserve policymakers will be debating whether stubborn inflation or slower hiring is the bigger problem for the economy as they prepare for an annual conference in Jackson, Wyoming, next week and a crucial policy meeting in September.
A top official at the Federal Reserve is saying that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.
The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut.
The Federal Reserve is expected to leave its short-term interest rate unchanged on Wednesday for the fifth straight meeting, a move that will likely underscore the deep divide between how Chair Jerome Powell and President Donald Trump see the economy.
A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts.
Federal Reserve Chair Jerome Powell is sticking 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.
The Federal Reserve said all major banks passed this year’s stress tests, showing they can withstand a hypothetical severe economic downturn.
Federal Reserve Governor Michelle Bowman says she's open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.
