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The Federal Reserve on Wednesday announced its third interest rate cut of the year as policymakers moved forward with the cut to support the labor market despite elevated inflation. Fed policymakers voted to lower the benchmark federal funds rate by 25 basis points to a new range of 3.5% to 3.75%. The move follows rate cuts of that size in September and October, which were the first of the year. Policymakers have been tracking economic data showing a slowdown in the labor market in recent months as companies adjust to shifts in trade and immigration policy. Meanwhile, inflation has trended...

New York Federal Reserve President John Williams said Friday he expects the central bank can lower its key interest rate from here as labor market weakness poses a bigger economic threat than higher inflation. With divisions in the central bank running high over the future of rates, Williams took the side of the doves who still see policy as a bit restrictive when it comes to economic growth. “I view monetary policy as being modestly restrictive, although somewhat less so than before our recent actions,” he said in remarks for a speech in Santiago, Chile. “Therefore, I still see room...

It's a question that puzzles many: if every nation is in debt, who exactly holds all that money? Who is the lender? This video dives into the structure of the global financial system to answer this fundamental paradox. In this clip, wolff responds to the common confusion surrounding sovereign debt. We explore who actually buys government bonds and how national debts are created and financed. This wolff responds analysis demystifies the difference between internal and external debt. The discussion clarifies the roles of central banks, private financial institutions, and even other countries in holding this debt. This wolff responds segment...

The Week Jobs Were Better Than Expected and the Fed Was Worse Than We ThoughtWelcome to Friday! This is the Breitbart Business Digest weekly wrap, where we catch up on the economic and finance news of the seven days already lost to history.This week was one in which mysteries were uncovered. The government got around to unveiling the truth about jobs in September and the mysterious resignation of yet another Fed official. Hiring by restaurants appeared to put to rest fears of a restaurant recession. Anchors aweigh!Better Late Than Never: America’s Unexpected September Jobs SurpriseThe Department of Labor released its...

Joe Lavorgna, counselor to Treasury Secretary Bessent, joins 'The Exchange' to discuss the state of the government shutdown, what a reopened government will do to the economy and much more.

Federal Reserve officials voted for another quarter-point rate cut on Wednesday, lowering their benchmark lending rate to a range between 3.75% and 4%, the lowest in three years. The decision drew two dissents; one from Fed Governor Stephen Miran, who backed a larger, half-point cut; and another from Kansas City Fed President Jeffrey Schmid, who preferred to hold borrowing costs steady. It is the first time since 2019 that there were dueling dissents — both calling for easier and tighter policy — underscoring the heated debate among officials over how President Donald Trump’s sweeping policies on trade, immigration and spending...

Every living former chair of the Federal Reserve, as well as a slew of ex-Treasury secretaries and former White House economic advisors, urged the Supreme Court not to allow President Donald Trump to fire Fed Governor Lisa Cook as her lawsuit challenging her removal is pending. Signers included ex-Fed chairs Alan Greenspan, Ben Bernanke, Janet Yellen; ex-Treasury secretaries Robert Rubin, Larry Summers, Hank Paulson, Jack Lew, and Timothy Geithner; and ex-CEA chairs Glenn Hubbard, Greg Mankiw, Christina Romer, Cecilia Rouse, Jared Bernstein, and Jason Furman.

President Donald Trump has asked the Supreme Court to allow him to fire Federal Reserve board member Lisa Cook, setting up a test of the president’s ability to take control of the powerful interest-rate setting body. The Justice Department on Thursday asked the high court to reverse the decisions of two lower courts that allowed Cook to remain in her position while the broader legal fight is underway. Their decisions enabled Cook to participate in a meeting this week that resulted in a quarter-point reduction in the interest rate. Trump’s incursion on the Federal Reserve is the culmination of his...

The Trump administration on Thursday asked the Supreme Court to lift lower court rulings that have blocked President Donald Trump from firing Federal Reserve Governor Lisa Cook. The request, which was expected, came after Cook participated this week in a meeting of the Fed’s Federal Open Market Committee, which decided to cut its benchmark overnight lending rate by a quarter percentage point. “This application involves yet another case of improper judicial interference with the President’s removal authority — here, interference with the President’s authority to remove members of the Federal Reserve Board of Governors for cause,” Solicitor General D. John...

WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market even as inflation is still in the air. In an 11-to-1 vote signaling less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its benchmark overnight lending rate by a quarter percentage point. The decision puts the overnight funds rate in a range between 4.00%-4.25%. Newly installed Governor Stephen Miran was the only policymaker voting against the quarter-point move, instead advocating...

The Federal Reserve announced a quarter-point interest rate cut, the first of 2025.The decision follows slowing job growth and rising inflation, challenging the Fed's dual mandate.Criticism from investors and political pressure influenced the Fed's decision to cut rates.

A federal appeals court has blocked President Trump from firing a member of the Federal Reserve's governing board, just ahead of a key vote on interest rates. On a two-to-one vote, the divided court upheld an earlier decision from a district judge who found that firing Lisa Cook would likely violate the Federal Reserve Act, which includes provisions designed to insulate the central bank from political pressure from the White House. The decision comes just days before the Fed's rate-setting committee is expected to vote to lower its benchmark interest rate for the first time this year. Trump has been...

Sept. 13 (UPI) -- Federal Reserve Gov. Lisa Cook described the Atlanta condominium she bought in 2021 as a second home, according to documents reviewed by The New York Times and The Washington Post. A filing from May 2021 listed the property's use as a "vacation home" and a December 2021 form she provided to the Biden administration called the condo a second home, the Washington Post reported. She submitted the December document after President Joe Biden nominated her to join the Federal Reserve's Board of Governors. A similar review by The New York Times reaches the same conclusions but...

WASHINGTON — Federal Reserve board member Lisa Cook should be banned from the central bank’s upcoming meeting later this month after a Trump official got her “dead to rights” on allegations of mortgage fraud, former Trump economic adviser Larry Kudlow told “Pod Force One.” “I mean, she doesn’t understand it, but she’s been fired,” Kudlow claimed to The Post’s Miranda Devine on the latest episode, out now. “…. She’s been fired for these allegations. The court doesn’t have to prove her guilty or not, by the way. If the president fires you, you’re fired. “The President appoints Federal Reserve governors,”...

Not exactly the Guns Of August. More like a wet cap gun firing. The jobs report for August showed only 22k jobs added. U-3 unemployment rate rose to 4.3%. Total private jobs added was 38k while manufacturing jobs added was down -12k. Government jobs dropped -16k. Let’s see if The Fed drops the hammer on rates by 50 basis points.

On Monday, President Donald Trump moved to fire Lisa Cook, a Biden-nominated member of the Federal Reserve’s Board of Governors. He moved to fire Cook for “cause,” and that cause is clear enough: According to William Pulte, director of the Federal Housing Finance Agency, Cook allegedly committed mortgage fraud by lying about her principal place of residence for purposes of securing more favorable interest rates—and then failed to report her rental income from the properties, to boot. Trump’s move is the first time a president has ever tried to fire a Fed governor for cause, and Trump’s usual detractors have...

The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum. In one of his most consequential speeches, Powell suggested the labor market could benefit from lower rates, which the Fed has kept unchanged for eight straight months. “Downside risks to employment are rising,” Powell said in prepared remarks for his keynote speech at the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole, Wyoming. He said the possibility of Trump’s tariffs having...

As my sources told me, Miran is a rarity, a highly trained economist who knows all the jargon, has absorbed the peer studies, brings intellectual heft, and makes a logical-sounding case for Trump’s stunningly contrarian game plan. “To say the least, it’s a relatively small pool of PhD economists who are economic nationalists. That’s a blinding reality. But Steve is one,” says someone outside the administration who knows him.

In a rare Presidential visit to the Federal Reserve headquarters, President Donald Trump publicly pressed Fed Chair Jerome Powell to deliver sharp interest rate cuts while criticizing the central bank's $2.5 billion renovation project. What Happened: On Thursday, Trump once again pushed for a rate cut, saying, “I’d love him to lower interest rates,” while standing next to Powell during a tour of the Fed’s headquarters, which is currently under renovation, according to a Reuters report. This visit comes just days before the Fed's rate-setting committee meeting, where the central bank’s 19 policy-makers are widely expected to hold benchmark interest...

Despite ongoing pressure from President Donald Trump, Federal Reserve Chair Jerome Powell is expected to leave key interest rates unchanged, according to market projections and analysts. Powell is set to announce his decision today. Most data indicates the economy is in good shape, with a relatively low 4.1% unemployment rate and relatively subdued inflation. But in June, the economy began to show prices for apparel, appliances and toys beginning to accelerate, and forecasters suggested tariffs would be likely to continue to drive up consumer prices. In a twist, Powell said the Fed might have already cut interest rates had it...