The Federal Reserve Bank of New York building.Bloomberg News The Federal Reserve’s policy rate is a long way from its lowest point, but markets remain concerned about a return to zero interest rates, according to findings from the Federal Reserve Banks of New York and San Francisco. In an economic letter released Monday, reserve bank […]
NY Fed report: Return to zero rates a ‘significant’ risk Read More »
Federal Reserve Chair Jerome Powell.Bloomberg News Some Federal Reserve officials are starting to beat the drum for an interest rate cut, but not Chair Jerome Powell. During an onstage panel event in Portugal, Powell said he is not putting a rate cut on the table for this month’s Federal Open Market Committee. But he also
Powell unbowed by pressure to cut rates in July Read More »
Andrew Harrer/Bloomberg The U.S. economy slowed faster than previously realized, according to the latest revision to the government’s gross domestic product estimate. Overall, the GDP’s rate of contraction was lowered by 30 basis points, from an annualized rate of -0.2% to -0.5%, according to the Bureau of Economic Analysis’ latest report, released Thursday. This is
First-quarter GDP revised lower; Fed has other data on deck Read More »
Federal Reserve Chair Jerome Powell testifying in the House Financial Services Committee Tuesday morning.Bloomberg News WASHINGTON — House Republicans struck a mostly cordial tone with Federal Reserve Chairman Jerome Powell at a hearing at the House Financial Services Committee. Trump, ahead of the hearing, called on Republicans to press Powell after he held interest rates
Republicans play nice with Powell despite Trump’s criticism Read More »
Former Treasury Secretary Lawrence Summers said he expects Donald Trump to name a mainstream candidate to replace Federal Reserve Chair Jerome Powell, despite the president’s bashing of the U.S. central bank leader for failing to cut interest rates this yearBloomberg News Former Treasury Secretary Lawrence Summers said he expects Donald Trump to name a mainstream
Summers sees Trump naming ‘respected’ replacement for Powell Read More »
David Paul Morris/Bloomberg UPDATE: This article includes a quote from Treasury Sec. Scott Bessent. Inflation rose modestly last month, signaling that the U.S. economy might be feeling the effects of elevated tariffs. The Consumer Price Index increased 0.1% in May, bringing the year-over-year inflation rate to 2.4%. The monthly increase was less than the 0.2%
Fed likely to hold steady after muted tariff impact in CPI Read More »
Federal Reserve Board NEW YORK — At least one Federal Reserve official expects tariffs to lead to higher inflation, and she is worried the effects could be long lasting. Speaking before the Economic Club of New York on Thursday, Fed Gov. Adriana Kugler said she sees ways in which higher trade barriers could lead to
Fed’s Kugler not ready to look past tariff inflation Read More »
Former Federal Reserve Vice Chair and noted macroeconomist Stanley Fischer, who passed away Saturday at 81.Bloomberg News (Bloomberg) — Stanley Fischer, a professor and practitioner of macroeconomics who helped guide central banks in two countries, Israel and the US, and mentored a younger generation of economic decision-makers, has died. He was 81. He died on
Former Fed vice chair Stanley Fischer dies at 81 Read More »
Federal Reserve Gov. Christopher WallerBloomberg News As the Federal Reserve examines its approach to communications, one official said the central bank should consider changes to its quarterly forecasts. During an onstage appearance at an event hosted by the Bank of Korea, Fed Gov. Christopher Waller said he would like to see reforms to the summary
Fed’s Waller backs change to ‘dot plot’ economic outlook Read More »
Krisztian Bocsi/Bloomberg The Federal Reserve’s preferred measure of inflation continued to inch toward its 2% target last month, but the impact of higher tariffs have yet to reflect meaningfully in government data. The headline Personal Consumption Expenditure, or PCE, index increased 2.1% on an annualized basis in April, according to a report released by the
April PCE inflation comes in at 2.1%, nearing Fed goal Read More »
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