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…
Wholesale prices rose far more than expected in July, providing a potential sign that inflation is still a threat to the U.S. economy, a Bureau of Labor Statistics report Thursday showed. The producer price index, which measures final demand goods and services prices, jumped 0.9% on the month, compared to the Dow Jones estimate for…
U.S. President Donald Trump points towards Federal Reserve Chair Jerome Powell holding a document during a tour of the Federal Reserve Board building, which is currently undergoing renovations, in Washington, D.C., U.S., July 24, 2025. Kent Nishimura | Reuters Federal Reserve Governor Adriana Kugler’s surprise resignation last week brought back a scenario that seemed to…
Credit card balances are ticking higher in 2025, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Balances rose by $27 billion in the second quarter to a collective $1.21 trillion — in line with last year’s all-time high. The total is up 2.3% from the previous quarter. At…
WASHINGTON – A divided Federal Reserve on Wednesday voted to keep its benchmark interest rate steady, despite a barrage of criticism from President Donald Trump and dissents from two top officials. The Federal Open Market Committee, the group that sets the overnight borrowing rate, voted 9-2 to stay on hold. The federal funds rate will…
The market may be trading around record highs, but the Verdence Capital Advisors CIO is worried trouble is lurking. Megan Horneman, who oversees $4.1 billion in assets under management, thinks there’s too much complacency around the Aug. 1 U.S. trade deadline. “This market is pricing in the perfect situation,” she told CNBC’s “Fast Money” on…
Westend61 | Westend61 | Getty Images Many engaged couples in the U.S. are relying on forms of credit to pay for their wedding. Experts say that approach can be smart, if done carefully. While 46% of surveyed newlyweds — couples who tied the knot within the past two years — used mostly savings to pay…
President Donald Trump on Friday expressed confidence the Federal Reserve will start lowering interest rates, a day after he met with central bank Chair Jerome Powell. The president indicated the meeting took a positive tone and believes the Fed is ready to provide the monetary policy easing he has been seeking for months. “I think…
Ahead of next week’s Federal Reserve meeting, relations between President Donald Trump and Fed Chair Jerome Powell have hit a low. “Families are being hurt because Interest Rates are too high,” Trump wrote in a Truth Social post on Wednesday. Trump has said he wants the Fed to sharply lower interest rates by as much as 3 percentage points to…
U.S. Federal Reserve Chair, Jerome Powell and U.S. President Donald Trump. Annabelle Gordon | Kevin Lamarque | Reuters If President Donald Trump tries to fire Federal Reserve Chair Jerome Powell, it would almost certainly set off a courtroom battle that legal and policy experts say is bound to get messy, with uncertain impacts on the…
