Fed Faces Growth-and-Inflation Squeeze, but Powell Signals No Rush to Move
Federal Reserve Chair Jerome Powell said the U.S. central bank is in a position to wait and watch how the expanding Iran war affects inflation and the broader economy, signaling that policymakers do not yet see a need to change interest rates even as new risks emerge. Speaking at Harvard University on March 30, Powell […]
Powell Cites Volcker’s “Willingness to Resist” as He Defends the Fed’s Independence Under Pressure
Federal Reserve Chair Jerome Powell used a public tribute to former Fed Chair Paul Volcker to underline a message with clear relevance to today’s politics: central bankers sometimes have to resist pressure and make unpopular choices to protect long-run economic stability. Powell delivered the remarks while accepting the Paul A. Volcker Public Integrity Award, praising […]
House Panel Chair Demands Powell Testimony Soon as DOJ Probe Clouds Fed Oversight Hearings
A key House committee chair is pushing for Federal Reserve Chair Jerome Powell to testify before Congress “soon,” arguing that lawmakers need timely oversight of the central bank even as a Department of Justice investigation has complicated the normal schedule for Powell’s appearances. His first major congressional testimony of the year—typically held between the Fed’s […]
US Fed official backed rate pause because inflation ‘too high’
A senior member of the US Federal Reserve on Friday said he voted against cutting interest rates this week because inflation was “too high” for comfort. Kansas City Fed president Jeff Schmid was one of two people who dissented on Wednesday’s vote, at which the US central bank backed a quarter percentage-point rate cut. The […]
Trump’s pick for US Fed governor vows to uphold independence
Donald Trump’s pick to join the Federal Reserve’s board of governors pledged Thursday to uphold US central bank independence if confirmed, as the institution faces growing political pressure from the president to slash interest rates. “The Federal Open Market Committee is an independent group with a monumental task, and I intend to preserve that independence,” […]
US Fed official warns against cutting rates ‘too quickly’
The US Federal Reserve should be careful not to cut rates “too quickly” and risk reigniting stubborn inflation, a senior bank official said Wednesday. The Fed’s favored inflation gauge has dropped sharply following a series of interest rate hikes in recent years, and now sits just above its long-term target of two percent. At the […]
