Federal Reserve Bank of Chicago president Austan Goolsbee on Friday said "more sniffing" is needed before the Fed can cut interest rates. Here's what to know.
The Federal Reserve will be watching jobs and unemployment numbers, as well as a manufacturing index and other private sector reports.
WASHINGTON — The U.S. Federal Reserve is highly likely to keep interest rates unchanged later this week, as policymakers contend with a recent uptick in inflation that has sharply cut the chance of a summer start to interest rate cuts. The Fed's decision to hike interest rates and then hold them at a 23-year high has helped to significantly lower elevated inflation, although it remains stuck firmly above the U.S. central bank's long-term target of two percent.
Federal Reserve Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence” that inflation is coming fully under control and "instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during a panel discussion. “If higher inflation does persist,” he said, “we can...
Analysts expect S&P 500 profits to jump 8% in 2024 and 14% in 2025 after subdued growth last year.
The House of Representatives passed legislation over the weekend that would broaden sanctions against Iran's oil exports
State Street chief investment officer Lori Heinel believes a rate cut in June is "likely."
By AAMER MADHANI (The Associated Press) NEW YORK (AP) — President Joe Biden said Friday that he is willing to debate his presumptive Republican opponent, Donald Trump, later this fall – his most definitive comment yet on the issue. The comment came during an interview with the Sirius XM radio host Howard Stern, who asked […]
Former President Trump's potential plan to exert more influence over the Federal Reserve is alarming experts and investors. The Wall Street Journal reported Thursday that a group of Trump allies is crafting ways to chip away at the independence of the central bank — a constant thorn in the side of the former president —
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The Fed's decision to hike interest rates and then hold them at a 23-year high has helped to significantly lower elevated inflation, although it remains stuck firmly above the US central bank's long-term target of two percent.Since the start of this year, the Fed's favored inflation measure has actually accelerated, hitting an annual rate of 2.7 percent in March, while economic growth has slowed, and the labor market has remained robust.The current environment, analysts say, is likely to lead...