President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a decision likely to result in sharp changes to the powerful agency that could bring it closer to the White House.
The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year.
Federal Reserve Chair Jerome Powellsaid Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
Wednesday, Dec. 10, the Federal Reserve lowered interest rates once again for a third consecutive time.
The Federal Reserve will almost certainly reduce its key interest rate Wednesday, but the bigger question for financial markets and the economy is what signals Chair Jerome Powell may send regarding the central bank’s next steps.
Tuesday, Dec. 9, the Federal Reserve started a two-day meeting in which it is expected to cut the federal funds rate.
A rising number of Americans are concerned about their wallets and bank accounts.
Prices on wholesale goods are pushing inflation higher.
The Federal Reserve has lowered interest rates by a quarter-point for the second time this year.
The Federal Reserve’s favored inflation gauge accelerated slightly in August from a year earlier.
