Latest Jerome Powell News
Trump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
WASHINGTON (AP) — President-elect Donald Trump announced Friday that he'll nominate billionaire hedge fund manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary, one of several personnel decisions that he unveiled as he closed out the workweek. ...
Powell says Fed will likely cut rates cautiously given persistent inflation pressures
WASHINGTON (AP) — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed's officials want to see where it heads next. ...
The Latest: Republicans grow their Senate majority with a win in Pennsylvania
President Joe Biden delivered remarks to the nation midday Thursday in his first appearance on camera in the aftermath of Donald Trump ’s decisive victory over Kamala Harris. Control over the U.S. House of Representatives hangs in the balance, teetering between a Republican or...
Stock market today: Most of Wall Street rises after the Fed cuts interest rates
NEW YORK (AP) — Most U.S. stocks rose Thursday, as the Federal Reserve cut interest rates again to make things easier for the economy. The S&P 500 climbed 0.7% to add to its surge from the day before following Donald Trump’s presidential victory. The Dow Jones Industrial...
Federal Reserve is set to cut rates again while facing a hazy post-election outlook
WASHINGTON (AP) — No one knows how Tuesday's presidential election will turn out, but the Federal Reserve's move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The presidential contest...
Fed Chair Powell says the US economy is in 'solid shape' with gradual rate cuts coming
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell signaled Monday that more interest rate cuts are in the pipeline but suggested they would occur at a measured pace intended to support a still-healthy economy. His comments, at a conference of the National Association for...
Will the Federal Reserve cut interest rates fast enough to deliver a 'soft landing'?
WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's cutting its key interest rate from a two-decade peak. It's likely to be just the first in...
Fed official broke ethics rules but didn't violate insider trading laws, probe finds
WASHINGTON (AP) — A government investigation into Atlanta Federal Reserve President Raphael Bostic's securities trades and investments has found he violated several of the central bank's ethics policies. The Fed rules violations “created the appearance” that Bostic acted on...
The Fed welcomes a 'soft landing' even if many Americans don't feel like cheering
WASHINGTON (AP) — When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially defeated. And not only that. The Fed's...
