Stephen Miran, President Donald Trump's top economic advisor, is on track to secure a crucial Senate approval for his nomination to become a Federal Reserve governor. However, getting him ready to influence interest rate decisions at the upcoming Fed meeting seems unlikely. The Senate Banking Committee is set to vote on Miran's nomination, with Republicans expected ...
Inflation is still on the rise, but not by much. The latest numbers show prices went up by 2. 6% over the past year. That's not great, but it's not terrible either. It's the same as last month, so at least it's not getting worse fast. The core PCE, which looks at prices without food and fuel, went up a bit more than last month. It's now at 2. 9%. That's higher than ...
Crypto prices shot up after Jerome Powell, the head of the Federal Reserve, hinted at possible interest rate cuts. This news made crypto traders feel hopeful. Bitcoin, Ethereum, and XRP saw big jumps in their values. Bitcoin reached $116, 518. 85. Ethereum hit $4, 629. 78. XRP crossed $3. 00. Other coins like Solana, Dogecoin, and Shiba Inu also saw gains. Traders ...
Savings accounts are a smart way to grow your money, but picking the right one can be tricky. Recently, the Federal Reserve has been cutting interest rates, which affects how much you can earn on your savings. This shift makes it crucial to understand the differences between money market accounts and high-yield savings accounts. Both types of accounts offer variable...
President Trump has decided to cross Scott Bessent off his shortlist for the next Federal Reserve chair. Bessent, who serves as the Treasury Secretary, made it clear he's happy with his current role. Trump shared this news during an interview and even joked about picking TV anchors for the job. Trump mentioned he has four finalists in mind to replace Jerome Powell, ...
The Federal Reserve, a key player in the U. S. economy, is under the spotlight as President Donald Trump plans to visit its headquarters. This visit comes as Trump and his allies question the Fed's recent building renovations, which have seen costs rise significantly. The president has been vocal about his desire for lower interest rates, a stance that has put him at...
The Federal Reserve, led by Chair Jerome Powell, is in a tough spot. The economy is a bit of a mystery right now, and Powell wants to wait and see how things play out before making any moves with interest rates. This puts him at odds with President Trump, who's been pushing for rate cuts ASAP. Powell was clear: the Fed isn't rushing into anything. He said they're in...
Some Federal Reserve officials are now echoing President Trump's calls for lower interest rates. Michelle Bowman, a key Fed official, recently suggested that the central bank should consider cutting rates soon to support the job market. She believes that if inflation stays under control, a rate cut could happen as early as the next Fed meeting. Bowman isn't alone in...
The stock market felt the heat on a recent Friday, with the S&P 500 taking a small dip. Investors were keeping a close eye on the Middle East and wondering when the Federal Reserve might start cutting interest rates. The S&P 500 ended the day at 5, 967. 84, down by 0. 22%. The Nasdaq Composite also saw a drop of 0. 51%, closing at 19, 447. 41. Meanwhile, the Dow Jone...
The Federal Reserve recently decided to keep interest rates unchanged. This decision came despite predictions of rising inflation and slower economic growth. The central bank's move was widely expected, as markets did not anticipate any changes this week. The Federal Open Market Committee maintained the key borrowing rate within the 4. 25% to 4. 5% range, a level tha...