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.
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials this week who have called for a more urgent approach.
With the Federal Reserve widely expected Wednesday to reduce its key interest rate by a quarter-point to about 4.1%, economists and Wall Street investors will be looking for signals about next steps: How deeply might the Fed cut in the next few months?
