U.S. inflation was unchanged in July as rising prices for some imported goods were balanced by falling gas and grocery prices, leaving overall prices modestly higher than a year ago.
A top official at the Federal Reserve said Saturday 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 left its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut.
Big changes could be coming to the world’s most powerful central bank, the Federal Reserve.
After months of criticizing Federal Reserve Chair Jerome Powell, President Donald Trump took the fight to the Fed’s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project.
President Donald Trump attacked Federal Reserve Chair Jerome Powell on Thursday for not cutting interest rates and said he could fire him if he wanted to, renewing a threat from his first term that could cause a major legal showdown over the issue of the central bank’s longstanding political independence.
The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday.
The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth for the U.S. economy, Federal Reserve Chair Jerome Powell said Friday.
The cost to borrow money has gone down slightly after the Federal Reserve approved to lower interest rates by a quarter point last week.
Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year.
