Kevin Warsh, a top contender to replace Jerome Powell as chair of the Federal Reserve, is finally ready to cut interest rates. As a governor at the US central bank from 2006 to 2011, Warsh called for higher rates even in the depths of the financial crisis, warning often of impending inflation. That’s a concern […]
Fed chair contender is now in favor of rate cut, just as Trump wants Read More »
Bloomberg News Inflation continued to rise in June, driven by rising costs of housing and suggesting the Trump administration’s emerging tariff policy is beginning to impact consumer prices. The Bureau of Economic Analysis reported that the Consumer Price Index increased 0.3% in June for an annualized climb of 2.7%. Core CPI, which factors out food
Uptick in CPI inflation complicates case for rate cuts Read More »
`UPDATE: This story now includes commentary from Wells Fargo executives and analysts. The regulatory shackles are off at Wells Fargo, but that new reality doesn’t necessarily mean that rapid growth is in the offing. Though the bank’s assets climbed above their longtime $1.95 trillion limit during the second quarter, Wells continues to be constrained by
Wells Fargo’s asset cap is gone, but loan demand stays tepid Read More »