Latest Jerome Powell News
U.S. economy grows solid 2.3% in October-December on eve of Trump return to White House, 2.8% in '24
WASHINGTON (AP) — A humming American economy ended 2024 on a solid note with consumer spending continuing to drive growth, and ahead of what could be a significant change in direction under a Trump administration. The Commerce Department reported Thursday that gross domestic...
Fed hold rates steady, sees inflation as 'elevated,' as Powell declines comment on Trump
WASHINGTON (AP) — The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue. ...
Stock market today: Wall Street slips after the Federal Reserve keeps interest rates steady
NEW YORK (AP) — U.S. stock indexes slipped Wednesday after the Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy through easier rates in September. The S&P 500 fell 0.5% following the Fed’s widely expected decision....
Federal Reserve expected to stand pat on rates even as Trump demands cuts
WASHINGTON (AP) — The Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates. Fed officials, led by Chair Jerome Powell, have cut their rate for...
Today in History: February 4, O.J. Simpson found liable in civil trial
Today is Tuesday, Feb. 4, the 35th day of 2025. There are 330 days left in the year. Today in history: On Feb. 4, 1997, a civil jury in Santa Monica, California, found O.J. Simpson liable for the deaths of his ex-wife, Nicole Brown Simpson, and her friend, Ronald...
The Latest: Trump says he will declassify the JFK, RFK and MLK Jr. records
President Donald Trump is remaking the traditional boundaries of Washington, asserting unprecedented executive power and daring anyone to stop him. Here's the latest: Trump heads to North Carolina and California on Friday Trump is going to...
Federal Reserve says it will leave climate change organization
WASHINGTON (AP) — The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how regulation of the financial system could help combat climate change. The Fed's membership has been criticized by Republicans in Congress. In a short...
Top Federal Reserve bank regulator, under fire from GOP, to step down next month
WASHINGTON (AP) — The Federal Reserve's top financial regulator said Monday that he would resign next month, avoiding a potential confrontation with the incoming Trump administration and Republicans in the Senate. Fed governor Michael Barr said in a letter to President Joe Biden...
Federal Reserve's preferred inflation gauge shows price pressures eased last month
WASHINGTON (AP) — An inflation gauge that is closely watched by the Federal Reserve barely rose last month in a sign that price pressures cooled after two months of sharp gains. Friday’s report from the Commerce Department showed that prices rose just 0.1% from October to...
Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty
WEST PALM BEACH, Fla. (AP) — The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty. The Dow Jones stock index essentially ended Thursday flat after having posted 10 days...
