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White House adviser Kellyanne Conway says the president is still backing conservative commentator Stephen Moore for a spot on the Federal Reserve board, and she adds she’s not concerned about some of his controversial comments on women.
Donald Trump’s nominees for the Federal Reserve Board are fiercely partisan, which would cast a dark shadow over economic policymaking.
President Donald Trump said Monday that Herman Cain has withdrawn from consideration for a seat on the Federal Reserve’s board amid a focus on past scandals.
The Federal Reserve said Wednesday the economy was expanding at a moderate pace in March and early April, despite uncertainty caused by trade tensions and severe flooding in the Midwest.
Treasury Secretary Steven Mnuchin said Monday that the Federal Reserve’s independence is important globally, while refusing to comment on President Donald Trump’s latest attack on the Fed.
Criticism of President Trump’s nominees for the Federal Reserve Board, Stephen Moore and Herman Cain, for being insufficiently qualified or too partisan for the independent central bank is “unfair,” said Larry Kudlow, head of the National Economic Council.
Stephen Moore is almost uniquely unqualified to serve on the Federal Reserve Board
Just a few months ago, rising rates were bearing down on everyone from home buyers to stock investors after the Federal Reserve put through seven quarter-point increases in 2017 and 2018. This year, the Fed has changed course.
The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes this year, reflecting a dimmer view of the economy as growth weakens in the United States and abroad.
Noting risks, Fed is likely to signal no expectation of rate hikes in the coming months.
Amid growing worries about a slowing economy, Federal Reserve officials indicated at their meeting last month that they plan later this year to stop paring back a key stimulus program put in place in the wake of the Great Recession, according to minutes released Wednesday.
Federal Reserve Chairman Jerome Powell does not feel the probability of a recession “is at all elevated,” and that the country is continuing to see solid economic growth.
Federal Reserve Chairman Jerome (“Jay”) Powell didn’t waste much time getting to the point at last week’s press conference. “My colleagues and I have one overarching goal: to sustain the economic expansion, with a strong job market and stable prices, for the benefit of the American people,” he said. It was a statement purged of ambiguity, with the Fed deciding not to raise interest rates or tighten credit – steps that had previously seemed possible. Job creation, it seems, is job one.
U.S. long-term mortgage rates edged up after declining in recent weeks.
The Federal Reserve is keeping its key interest rate unchanged and signaling that it could leave rates alone in coming months given global economic pressures and mild inflation. The Fed also says it’s prepared to slow the reduction of its bond holdings if needed to help the economy.
The Federal Reserve is set Wednesday to leave its key short-term interest rate alone and to signal that it will remain cautious this year about raising rates further.
The Federal Reserve said Wednesday business contacts in many regions of the country are expressing less optimism amid a host of adverse developments, from plunging stock prices to uncertainty about a widening trade war.
Federal Reserve Chairman Jerome Powell said Friday that he will not resign if asked to do so by President Donald Trump, a message that heartened investors who had been concerned by Trump’s repeated attacks on his hand-picked choice to lead the nation’s central bank.
President Donald Trump lashed out at the Federal Reserve on Monday after administration officials spent the weekend trying to assure the public and financial markets that Jerome Powell’s job as Fed chairman was safe.
The Federal Reserve has raised its key interest rate for the fourth time this year to reflect the U.S. economy’s continued strength but signaling that it expects to slow increases next year.