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Federal Reserve officials wrapped up their final meeting of 2024 with splits surfacing over how many more interest rate cuts they should make given strong economic growth, lingering inflation and huge uncertainty ahead of Donald J. Trump’s return to the White House. Weeks later, they unanimously pressed pause on rate cuts and now appear unified…
High inflation is stoking fresh debate about how the Federal Reserve should respond to President Trump’s sweeping plans to reorder the world economy through tariffs, leading to questions about whether old playbooks still apply. On Saturday, Mr. Trump is poised to impose 25 percent tariffs on imports from Mexico and Canada as well as an…
President Donald Trump, right, speaks as Jerome Powell, Trump’s nominee as chairman of the Federal Reserve, listens during a nomination announcement in the Rose Garden of the White House in Washington, D.C., Nov. 2, 2017. Olivier Douliery | Bloomberg | Getty Images President Donald Trump on Wednesday slammed Federal Reserve Chair Jerome Powell and the…
As the second presidency of Donald J. Trump begins, America’s largest banks and asset managers have abandoned one of the most overt symbols of their commitment to reaching green goals: climate action networks. In the month leading up to Mr. Trump’s inauguration on Monday, the six largest U.S. banks, including JPMorgan and Goldman Sachs, left…
A test for Trump’s cabinet pick For businesses and markets, perhaps the most important of the hearings for the incoming Trump administration’s Cabinet picks starts on Thursday at 10:30 a.m. Eastern. Scott Bessent, President-elect Donald Trump’s choice for Treasury secretary, will likely be confirmed by the Senate. But the billionaire hedge fund manager is still…
The Federal Reserve lowered its interest rate target three times in 2024. This has many Americans waiting for mortgage rates to fall. But that may not happen for some time. “I think the best case scenario is we’re going to continue to see mortgage rates hover around six and a half to 7%,” said Jordan…
David Zervos, Jefferies Scott Mlyn | CNBC The Federal Reserve is expected to cut interest rates by another quarter point at the conclusion of its two-day meeting next week. “Two years ago … 3 out of 4 economists were saying we’re going into a recession,” David Zervos, chief market strategist for Jefferies LLC, said during CNBC’s…
