Federal Reserve cuts key rate but signals higher bar for future reductions
Wednesday’s cut reduced the Fed’s key interest rate by a quarter-point, to about 3.6%, the lowest it has been in nearly three years.
Federal Reserve Bank
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Powell: Fed still sees rate cuts this year; election timing won’t affect decision
The recent pickup in inflation has led some economists to postpone their projections for when the Federal Reserve will begin cutting interest rates.
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The economy keeps growing, defying widespread fears from a year ago that 2023 would bring a recession, a consequence of the much higher borrowing rates the Fed engineered.
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First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
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Articles
Fed likely to lower borrowing costs this week, but follow-up rate cuts face longer odds
The Federal Reserve faces an unusually contentious meeting this week that will test Chair Jerome Powell’s ability to corral the necessary support for a third straight interest rate cut.
Fed’s preferred inflation gauge little changed in September as spending weakened
Core inflation was muted in September and will bolster the case for a cut to the Federal Reserve’s key interest rate at its next meeting.
Federal Reserve releases new guidance for bank oversight in move praised by industry
Michelle Bowman, the Fed’s vice chair for supervision, said the principles will “sharpen” the central bank’s focus and build “a more effective supervisory framework.”
Sharp disagreements over economy threaten Federal Reserve interest rate cut
The differences have been exacerbated by the government shutdown’s interruption of economic data, a particular challenge for a Fed that Chair Jerome Powell has often described as “data dependent.”
Federal Reserve cuts key rate, yet Powell says future reductions are not locked in
Chair Jerome Powell said in a news conference that another rate cut in December was “not a foregone conclusion.”
Trump administration narrows list of potential Federal Reserve chairs to 5
The names suggest that no matter who is picked, there will likely be big changes coming to the Federal Reserve next year.
Fed minutes: Most officials supported further rate cuts as worries about jobs rose
The minutes provide insight into how the Fed’s policymakers were thinking last month about inflation, interest rates, and hiring.
Powell signals Federal Reserve to move slowly on interest rate cuts
Jerome Powell’s approach is in sharp contrast to some members of the Fed’s rate-setting committee who are pushing for faster cuts.
Federal Reserve cuts key rate by quarter-point, signals two more cuts this year
The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. The central bank’s focus has shifted quickly from inflation to jobs, as hiring has ground nearly to a halt in recent months
Fed faces economic uncertainty, political pressure as it decides whether to cut rates
At this week’s Federal Reserve meeting, the decision it will make on interest rates—usually the main event—is just one of the key unknowns to be resolved when officials gather Tuesday and Wednesday.
Trump takes one step back, another forward in his attempt to reshape the Fed
Here are where things stand regarding Trump, the Federal Reserve, and its traditional independence.
Federal Reserve official sues Trump over attempt to fire her
The case could become a turning point for the 112-year old Federal Reserve, which was designed by Congress to be insulated from day-to-day political influence.
Trump says he’s firing Federal Reserve’s Lisa Cook, opening new front in fight for control
President Trump said in a letter posted on his Truth Social platform that he is removing Cook effective immediately because of allegations that she committed mortgage fraud.
Powell signals Fed may cut rates soon even as inflation risks remain
Federal Reserve Chair Jerome Powell opened the door ever so slightly to lowering a key interest rate in the coming months but suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.
US producer prices surge in July as Trump tariffs push costs higher
U.S. wholesale inflation surged unexpectedly last month, signaling that the president’s sweeping import taxes are pushing costs up and that higher prices for consumers may be on the way.
US inflation held steady as mild tariff hit offset by cheaper gas, food
Americans are likely to absorb more trade-war costs in the coming months as Trump begins to finalize tariffs.
A top Federal Reserve official says dour jobs data backs case for 3 rate cuts
The jobs report that arrived last week, only a couple of days after the Fed voted on interest rates, showed that employers hired far fewer workers last month than economists expected.
Trump calls on the Federal Reserve board to take full control of central bank from Powell
Fed Chair Jerome Powell has held the benchmark rate for overnight loans constant this year, saying that Fed officials needed to see what impact President Trump’s massive tariffs had on inflation.
Federal Reserve leaves interest rates unchanged even as Trump demands cuts
The choice to hold off on a rate cut will almost certainly result in further conflict between the Fed and White House, as Trump has repeatedly demanded that the central bank reduce borrowing costs.