Inflation edged higher in July, according to the Federal Reserve’s preferred inflation measure, indicating that President Donald Trump’s tariffs are weaning their way through the U.S. economy. The personal consumption expenditures price index showed that core inflation, which excludes food and energy costs, ran at a 2.9% seasonally adjusted annual rate, according to a Commerce…
Lisa Cook, governor of the US Federal Reserve, speaks at the Peterson Institute For International Economics in Washington, DC, US, on Thursday, Oct. 6, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Governor Lisa Cook’s lawsuit against Donald Trump challenges his ability to remove her from office, but only briefly addresses the central…
President Donald Trump on Monday boasted about the government’s new stake in Intel and said he’s determined to do similar deals. “I will make deals like that for our Country all day long,” the president posted on Truth Social. Trump added that “stupid people” are upset with a move that he said will bring more…
Federal Reserve Chair Jerome Powell delivered his annual address Friday morning at the central bank’s annual symposium in Jackson Hole, Wyoming. He indicated that conditions “may warrant” interest rate cuts as the Fed proceeds “carefully.” Markets have been looking to Powell to provide strong hints about a September interest rate cut. For their part, the…
Cleveland Federal Reserve President Beth Hammack said Friday she would be hesitant about lowering interest rates as long as inflation remains a threat. In a CNBC interview, the policymaker did not share the market’s enthusiasm for a cut, sparked after Chair Jerome Powell’s keynote speech earlier in the morning stating that current conditions “may warrant”…
Federal Reserve Chair Jerome Powell is set to deliver what almost certainly will be his last keynote address at the central bank’s annual conclave during one of the most tumultuous times in its history. What’s at stake is the near-term sentiment for financial markets, the longer-term path of the Fed’s policy trajectory, and a not…
Federal Reserve officials worried at their July meeting about the state of the labor market and inflation, though most agreed that it was too soon to lower interest rates, minutes released Wednesday showed. The meeting summary depicted a divergence of opinion among the central bankers, whose vote to hold their key rate steady came despite objections…
White House economic adviser Kevin Hassett speaks next to U.S. President Donald Trump in the Oval Office of the White House in Washington, D.C., U.S., March 7, 2025. Leah Millis | Reuters President Donald Trump will tap his top economic advisor Kevin Hassett to be the next Fed chair, according to respondents to a special…
Federal Reserve President Austan Goolsbee said Friday a mixed bag of inflation data this week coupled with lingering uncertainty over tariffs have given him some hesitation about lowering interest rates. Previously, Goolsbee has spoken of a “golden path” that would combine moderating inflation and a stable labor market and lead to lower rates. But in…
President Donald Trump’s short list to replace Jerome Powell as Federal Reserve chair has turned into a long list of nearly a dozen possible candidates. Among them are current and former Fed officials, prominent economists and a couple market-focused hopefuls, each with ideas about where the central bank should be headed at a critical juncture…
