The Latest Breaking News from Stephen Miran

Fed officials, in a set of projections also released on Wednesday, signalled that they expect to reduce their key rate twice more this year, but just once in 2026.

On Wednesday, U.S. stocks closed mixed as the Dow Jones Industrial Average advanced 0.6% to 46,018.32. The SP 500 slipped 0.1% to 6,600.35, while the Nasdaq fell 0.3% to 22,261.33.The Federal Reserve cut its benchmark rate by 25 basis points to 4.00%-4.25%, ending a nine-month pause and marking the fourth…

Stephen Miran, Trump’s pick to join the Fed, dissented against the group, voting in favor of the stronger half-point cut.

Newly confirmed Fed governor Stephen Miran noted that moderate long-term rates are a goal.

The dollar index (DXY00 ) today is up by +0.07%. The dollar is posting modest gains today ahead of the results of today’s FOMC meeting. Weakness in stocks today is boosting some liquidity demand for the dollar. Gains in the dollar are muted after the US Aug housing starts and...

The US Federal Reserve is poised to make its first interest rate cut of 2025 on Wednesday, but it battles competing forces in the path forward -- with heightened political pressure and likely divisions among its ranks.

The S&P 500 edged down 0.13% to close at 6,606.76 after touching a fresh intraday record earlier in the session. The Nasdaq Composite slipped 0.07% to 22,333.96, while the Dow Jones Industrial Average lost 125.55 points, or 0.27%, to end at 45,757.90.

Investors, traders and speculators appear to be on hold amid an unusually fraught Fed meeting.

It follows the release of industrial and retail data in the US.