The Federal Reserve held interest rates steady and officials readied for higher borrowing costs, as inflation fears dominated Kevin M. Warsh’s first meeting as chairman of the central bank. The decision on Wednesday to maintain rates at a range of 3.5 percent to 3.75 percent for a fourth-straight meeting was supported by all 12 members…
The Federal Reserve held interest rates steady and officials readied for higher borrowing costs, as inflation fears dominated Kevin M. Warsh’s first meeting as chairman of the central bank. The decision on Wednesday to maintain rates at a range of 3.5 percent to 3.75 percent for a fourth-straight meeting was supported by all 12 members…
Three Federal Reserve officials who wanted the central bank to signal more directly this week that interest rates may eventually need to rise cited concerns about resurgent inflation stemming from the war in Iran in defending their decision to dissent against Wednesday’s policy announcement. On Friday, the policymakers who contributed to the Fed’s most divisive…
Over the past year, Jerome H. Powell has frequently said that the Federal Reserve faced “no risk-free paths” as it confronted a series of economic shocks that simultaneously lifted inflation while denting growth. The same could be said for his momentous decision to stay on at the Fed as a governor after his term as…
Jerome H. Powell said on Wednesday that he would stay on as a governor at the Federal Reserve after his term as chair ends May 15, citing lingering legal threats against him and the central bank as part of a pressure campaign by President Trump for lower borrowing costs. “After my term as chair ends…
To Kevin M. Warsh, the Federal Reserve’s more than $6 trillion portfolio of government bonds and mortgage-backed securities is emblematic of everything that has gone wrong at the institution he hopes to lead. The Fed’s decision to expand its portfolio by so much and so quickly since the 2008 global financial crisis has stoked inflation,…
Consumers who have been waiting for borrowing costs to drop will have to keep waiting: With inflation elevated, the Federal Reserve is expected to keep interest rates unchanged on Wednesday, a stance it has held since December. “The Fed is in wait-and-see mode, and that likely means no immediate rate cuts,” said Matt Schulz, chief…
Jerome H. Powell said on Wednesday that he would stay on as a governor at the Federal Reserve after his term as chair ends May 15, citing lingering legal threats against him and the central bank as part of a pressure campaign by President Trump for lower borrowing costs. “After my term as chair ends…
The Federal Reserve is preparing to hold interest rates steady on Wednesday for its third straight meeting this year — and likely the final one for Jerome H. Powell as chair. Since policymakers last gathered in March, the war in Iran has continued to drag on, compounding the potential economic damage. Inflation has already risen…
This week’s Federal Reserve meeting is set to be Jerome H. Powell’s last as chair of the central bank. But the “wait and see” policy path that he carefully carved out amid resurgent inflation risks is likely to stay intact long after he leaves the top job. On Wednesday morning, President Trump’s handpicked successor, Kevin…
