News
Powell says he will stay on Fed board after chairmanship ends
1+ hour, 27+ min ago (572+ words) Federal Reserve Chairman Jerome Powell announced that he will remain on the Fed's Board of Governors beyond the end of his term as chairman next month, breaking with tradition at the central bank and preventing President Donald Trump from quickly…...
What to expect from the Federal Reserve monetary policy statement
10+ hour, 27+ min ago (281+ words) At 2 p. m. , the Federal Open Market Committee of the Federal Reserve Board will release its statement'on monetary policy.'The committee will keep the federal funds target range unchanged at 3. 50%3. 75%. The fed funds rate is a key interest rate tool of the…...
Fed holds interest rates steady in what will likely be Powell's last meeting
2+ hour, 26+ min ago (801+ words) The Federal Reserve voted Wednesday to hold its interest rate target steady in what will likely be the last meeting for outgoing Fed Chairman Jerome Powell. After a two-day meeting in Washington, the Fed's monetary policy committee announced it would…...
Warsh set to test limits of Fed reform
4+ hour, 34+ min ago (1135+ words) Kevin Warsh, President Donald Trump's nominee for chairman of the Federal Reserve Board of Governors, has said he intends to bring reform to the Fed if confirmed. While he will have some latitude to steer the central bank, he will…...
Billy Corgan just offered a great lesson in economics
2+ day, 10+ hour ago (405+ words) In 1997, when the Smashing Pumpkins were arguably the world's top alternative-rock band, they released a promotional single, "The Beginning Is the End Is the Beginning," in conjunction with one of the year's bestselling films, Batman & Robin. The stars seemed aligned…...
Minnesota economist Christopher Phelan nominated to be top Trump policy adviser
1+ week, 18+ hour ago (280+ words) President Donald Trump has nominated University of Minnesota Professor Christopher Phelan to lead the Council of Economic Advisers. The White House announced Tuesday that Trump has nominated Phelan, who specializes in macroeconomic theory, to be chairman of the CEA. If…...
Fed chair pick Warsh says he hasn't promised interest rate cuts to Trump
1+ week, 1+ day ago (408+ words) Kevin Warsh, President Donald Trump's pick for chairman of the Federal Reserve, said in his confirmation hearing that Trump never asked him to commit to any interest rate decisions during his vetting process. Warsh, a 56-year-old former Fed governor, testified…...
Kevin Warsh pledges to uphold Fed independence in prepared testimony
1+ week, 2+ day ago (552+ words) Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, will pledge to defend the central bank's independence at his confirmation hearing, according to testimony prepared for the event. Warsh's testimony doesn't mention lowering interest rates, as Trump has…...
Inflation held at 2. 4% in February as affordability woes persist
1+ mon, 2+ week ago (641+ words) Inflation'held steady at 2. 4% for the year ending in February as higher prices continue to plague President'Donald Trump. The Bureau of Labor Statistics reported the update to the consumer price index on Wednesday. FUTURES MARKETS AND CRYPTO HIGH ON AGENDA OF…...
Friday's jobs report is better than it looks
3+ week, 5+ day ago (457+ words) The United States does not need as much job creation as it has in years past, thanks in large part to the crackdown on illegal immigration, meaning that recent job growth is stronger than it might seem at first." Employers…...