Powell Signals Fed May Cut Rates Soon Even
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Trump ratcheted up his pressure campaign this week, calling on Fed Governor Lisa Cook to resign after a Trump administration official alleged that she had committed mortgage fraud. Cook rebuked the push for her to quit, saying she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.”
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
Harvard economist Kenneth Rogoff has admitted he got bitcoin and crypto wrong ten years ago, warning a coming dollar “crisis" could propel crypto
FOMC opted to leave its target range unchanged at 4.25%–4.50%, fresh details from the July meeting shed light on why policymakers are growing uneasy.
Federal Reserve Chair Jerome Powell on Friday announced an updated operating framework more oriented toward traditional efforts of promoting price stability, supplanting what had been a troubled effort that biased central bank policy toward its job mandate over its inflation target.