November inflation increase won’t derail Fed interest rate cuts
Robust inflation numbers in November show the Fed still has work to do. (iStock) According to the Consumer Price Index (CPI), the annual inflation rate rose to 2.7% in November, slightly higher than the previous month's annual inflation rate of 2.6%. Published by the Bureau of Labor Statistics (BLS). Inflation rose 0.3% on a monthly […]
Bessent: Powell can serve out remainder of term as Fed chair
Scott Bessent, President-elect Trump's pick to lead the Treasury Department, said Tuesday that Federal Reserve Chairman Jerome Powell could lead the central bank for the remainder of his term. “I completely agree, as the president said on Sunday, that Jay Powell will serve out his term,” Bessent said. CNBC. His comments come after President Trump […]
Inflation ticks higher as Fed eyes another rate cut
Inflation rose slightly in November, but likely not enough to derail the Federal Reserve's plans for further interest rate cuts, according to figures released Wednesday by the Labor Department. Consumer prices rose 0.3% in November and rose 2.7% over the past 12 months, according to new Consumer Price Index (CPI) data released on Wednesday. Monthly […]
Trump Says He Won’t Try To Remove Fed Chair Jerome Powell Despite Past Disagreements
Federal Reserve Chairman Jerome Powell speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing on the Semiannual Monetary Policy Report to Congress on July 9, 2024, at the U.S. Capitol in Washington, DC. Chairman. (Photo by Bonnie Cash/Getty Images) OAN Staff Avril Elfie2:59 PM – Monday, December 9, 2024 President-elect Donald Trump has […]
Trump says he won’t try to replace Fed Chair Jerome Powell
President-elect Donald Trump said in an interview aired Sunday that he does not intend to replace Federal Reserve Chairman Jerome Powell when he takes office in January. “No, I don't think so. I don't understand that,” President Trump said on NBC News' “Interactions with the Press with Kristen Welker,” about Chairman Powell, whose term ends […]
Trump says he won't seek to remove Fed chairman Powell
President-elect Trump said in a new interview that he has no intention of trying to remove Fed Chairman Jerome Powell, who takes office next year. President Trump: “No, I don't think so. I don't know.” told Kristen Welker In “Meet the Press”. President Trump said, “If I tell him that, he will. But if I […]
The U.S. added 227,000 jobs in November, setting in motion potential Fed rate cuts at the end of the year
227,000 jobs were added to the economy in November. (iStock ) In November, the number of employees increased more than initially expected. Nonfarm employment increased by 227,000 people, and the unemployment rate rose slightly to 4.2%. Published by the U.S. Bureau of Labor Statistics.. Healthcare, services, and government industries were the main drivers of employment […]
Gold stalls intraday recovery as traders await US NFP report for Fed rate cut cues – FXStreet
Gold prices have been steadily recovering from Friday's lows in more than a week. Softer risk tone, geopolitical risks and trade war concerns are benefiting safe-haven commodities. We are betting on a non-dovish Fed cap to move higher on XAU/USD ahead of the important US NFP report. Gold prices (XAU/USD) have struggled to capitalize on […]
Fed chair says central bank ‘can afford to be a little more cautious’ in cutting rates
Federal Reserve Chairman Jerome Powell said Wednesday that the economy is stronger than it was in September, when the central bank began cutting interest rates, and that policymakers may be wary of cutting rates further. “We can afford to be a little more cautious as we strive for neutrality,” Powell said at a New York […]
The Fed Should Take a Long Winter’s Nap
Fed leans back on another mistaken rate cut Fed officials appear intent on repeating the mistakes of September and November by cutting rates again next time. Economic indicators clearly need a pause. Fed Governor christopher wallerSpeaking in Washington, he announced tentative intentions to cut interest rates at the Federal Open Market Committee meeting in December, […]