Fed, Trump
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The newly published meeting minutes highlighted a divide over how Federal Reserve officials expect the economy to respond to President Donald Trump's tariffs.
White House advisors allege Powell misled US Congress about building expenses as they search for legal grounds to unseat him.
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Federal Reserve Governor Chris Waller said on Thursday said he favors cutting the Fed's policy rate in July. He also discussed the Fed's balance sheet and why it should continue to pay interest on bank reserves.
There was a general sense among most Federal Reserve officials that interest rates could be lowered by the end of the year, minutes of the Fed’s June 17-18 meeting showed.
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Policy is rightly locked on hold over the near-term in part because the uncertainty surrounding the Trump administration’s tariff regime remains unusually high.
The latest round of tariff threats from President Trump could spark fresh concerns about inflation, which might force the Federal Reserve to maintain its wait-and-see posture on interest-rate cuts, sa
The Fed report suggests that a higher prime rate is causing, at least in part, growth in card interest rates. The prime rate remained stable at 7.5% throughout the first quarter. But it is still much higher than it was during the beginning of the 2020s, when it wasn’t uncommon to see the benchmark rate fall between 3.25% and 5.5%.