On Major Economic Decisions, Trump Blinks, and Then Blinks Again
After weeks of bluster and escalation, President Trump blinked. Then he blinked again. And again.
He backed off his threat to fire the Federal Reserve chairman. His Treasury secretary, acutely aware that the S&P 500 was down 10 percent since Mr. Trump was inaugurated, signaled he was looking for an offramp to avoid an intensifying trade war with China.
Donald Trump criticises Federal Reserve chair as European Central Bank cuts interest rates
Donald Trump says end of Jerome Powell's term as Fed chair 'cannot come fast enough'
Donald Trump is awake. And he has strongly criticised monetary policy by the Federal Reserve, saying the end of Jerome Powell’s tenure as chair “cannot come fast enough”.
In a post on Truth Social, the social network he owns, Trump said that Powell had been too slow to cut interest rates – contrasting its hesistance because of perceived inflationary pressures with the European Central Bank (ECB).
Federal Reserve holds interest rates steady: What that means for mortgages, credit cards and more
The Federal Reserve announced Wednesday it will leave interest rates unchanged as President Donald Trump’s tariff policies weigh on economic growth.
Federal Reserve leaves key interest rate unchanged amid uncertainty over economy, inflation
The Federal Reserve on Wednesday announced that it will leave its benchmark interest rate unchanged as policymakers continue to assess uncertainty around inflation and economic conditions in light of federal policy shifts.
Fed leaves rates unchanged, notes higher uncertainty
The Federal Reserve left interest rates unchanged Wednesday while noting increased economic uncertainty and slashing growth forecasts, at a time when trade and other policy areas are in extreme flux.
Consumer bureau sues Capital One for ‘cheating’ customers on savings account interest
The government’s consumer watchdog on Tuesday sued Capital One for alleging “cheating” customers out of billions in interest payments. The Consumer Financial Protection Bureau (CFPB) accused the banking giant of freezing interest rates for its 360 Savings account at low levels as rates rose, despite promising the nation’s “best” and “highest” interest rates. In 2019, Capital One created a separate “360 Performance Savings” account that paid significantly more interest than the 360 Savings.
Robust US economy may not need Trump's big reforms
WASHINGTON, Jan 13 (Reuters) - U.S. President-elect Donald Trump campaigned on promises of aggressive import tariffs, strict immigration curbs, deregulation and smaller government, but the economy he inherits next week may be screaming for something different.
Namely, don't break anything.
Fed Signals Intent to Slow Interest-Rate Cuts After Approving Quarter-Point Reduction
The Federal Reserve signaled greater doubt over how much it would continue to cut rates after agreeing to a reduction on Wednesday that Chair Jerome Powell conceded had been a close call.
The latest cut, approved by 11 of 12 Fed voters, will lower the Fed’s benchmark federal-funds rate to a range between 4.25% and 4.5%, a two-year low.
Dow plummets 1,100 points after Fed scales back plans for interest rate cuts
The stock market plunged on Wednesday after the Federal Reserve scaled back its expectations for interest rate cuts next year.
The Dow Jones Industrial Average fell about 1,100 points, or 2.5%, the largest drop for the index since August. The dip marked the 10th consecutive day of losses for the Dow, its longest losing streak since 1974.
Federal Reserve cuts interest rates by quarter point in December
The Federal Reserve on Wednesday announced its third straight interest rate cut, lowering the benchmark rate by 25 basis points amid economic data showing that inflation remains above the central bank's target rate.