Trump, Powell Disagree on Fed Building’s Renovation Cost
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The minutes reveal more closely the behind closed doors thinking between the U.S.’ top policymakers with the Fed under barrage from the White House.
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Money Talks News on MSNFed Independence Concerns Rise Over Trump's Rate Pressure CampaignTrump sent Fed Chair Powell a handwritten note demanding lower interest rates to reduce government borrowing costs. Experts argue dramatic rate cuts could compromise Fed independence and reignite inflation pressures.
President Trump visited the Federal Reserve to inspect an ongoing renovation and disagreed with Powell about the final cost of the project in an extraordinary moment.
U.S. business activity picked up in July, but companies asked higher prices for goods and services, supporting economists' views that inflation will accelerate in the second half of the year mainly because of tariffs on imports.
Federal Reserve officials affirmed their intention to lower inflation back toward their 2% target at the risk of rising unemployment and slower growth. Fed minutes show inflation resolve, concern ...
Prices rose faster in May than forecasters had anticipated, and consumers unexpectedly lost income and pulled back on spending.
Inflation has been cooling; by the Fed's targeted measure of the yearly gain in the Personal Consumption Expenditures price index, inflation was 2.1% in April, just a hair above the Fed's 2% target.
Since the Fed already has said the economy has met the Fed’s target of inflation hovering above 2% “for some time,” the twin milestones would open the door to a March rate increase.
In “waiting game” since January, the FOMC decided to leave rates in the 4.25% to 4.5% range AI Summary The Federal Reserve held benchmark rates steady in the range of 4.25% to 4.5% following ...
Concerns over higher inflation and tighter monetary policy have become the top concern for market participants, pushing aside the COVID-19 pandemic, the Federal Reserve said on Monday in its ...