The Latest Breaking News from Jay Powell

In a widely anticipated move, the Federal Reserve announced on Sept. 18, 2024, that it was cutting its benchmark interest rate by half a percentage point to a range of 4.75% to 5% – the first time the cost of borrowing has been lowered in four years.

The debate about the upcoming Fed meeting centers around whether it will cut the funds rate by 25 or 50 basis points. But that may not be enough.

A second Trump term would likely be very different from the corporate-friendly deregulatory agenda that largely defined his first.

Powell’s dim prospects come despite the Fed chief nearing a huge win: the “softest of soft landings.”

Claudia Sahm is cautioning against reading too much into her famous rule that suggests the U.S. is on the brink of a recession.

“This is my problem with Powell,” Sternlicht said. “His policy has now crushed multifamily starts; we need houses.”

The Federal Reserve left interest rates unchanged at a 23-year high, but it's still penciling in three rate cuts this year.

Rates to stay at 25-year high of 5.25% to 5.5% as central bank says ‘inflation has eased over the past year but remains elevated’

The digital currency traded close to the $70,000 mark after crossing the $60,000 mark a week earlier. It was up 2.3% for the week, on solid interest from the newly established ETFs, the prospects of lower interest rates, and a tighter supply on the upcoming halving in April.