The U.S. Labor Department released its latest inflation report on Tuesday. The report showed that inflation cooled in June, giving the Fed more confidence that price pressures are easing. Consumer prices fell 0.4% from May to June, the largest monthly decline in inflation in four years. U.S. inflation cooled in June despite rising oil prices … Read more
The U.S. Supreme Court on Monday strengthened President Donald Trump’s power to fire members of independent government agencies but provided protections for them Fed Prevent the governor from being fired Lisa Cook. In a 6-3 decision, the Supreme Court upheld Trump’s authority to fire subordinates while ensuring the Fed’s independence. (Reuters photo) In a 6-3 … Read more
Alan GreenspanThe economist who chaired the Federal Reserve under four U.S. presidents died on Monday, his wife, Andrea Mitchell, confirmed the news. He is 100 years old. Former Federal Reserve Chairman Alan Greenspan dies at 100 from complications of Parkinson’s disease. (Reuters) According to a statement reported nbc Greenspan died at his residence of complications … Read more
During the swearing-in of Kevin Warsh as the new Chairman FedPresident Donald Trump told him to be independent and make his own decisions. Trump said Warsh should not listen to him or anyone else and instead do what is best for the economy. Kevin Warsh takes over as Fed chairman as inflation remains high and … Read more
Outgoing Federal Reserve Chairman Jerome Powell on Sunday staunchly defended the need for the central bank to maintain its independence and credibility as it comes under attack from President Donald Trump. Federal Reserve Chairman Jerome Powell in Washington, DC. (Reuters) “The Federal Reserve, like many other institutions, is constantly being stress-tested,” he said while accepting … Read more
The U.S. Department of Justice is wrapping up its investigation into Federal Reserve Chairman Jerome Powell, a move seen as clearing the way for confirmation of President Donald Trump’s nominee to head the Federal Reserve, Kevin Warsh, whose term ends on May 15.U.S. Attorney Jeanine Pirro said a criminal investigation into cost overruns related to … Read more
U.S. President Donald Trump’s pick to lead the Federal Reserve, Kevin Warsh, will stress his commitment to the central bank’s interest rate independence during a key confirmation hearing on Tuesday, according to prepared remarks seen by AFP. Trump’s pick for Fed chief to swear rate independence at key hearing “I am committed to ensuring that … Read more
Federal Judge James Boasberg on Friday blocked the Justice Department’s efforts to subpoena documents from the Federal Reserve, issuing a scathing rebuke to prosecutors investigating the cost of renovating the central bank’s Washington headquarters. In a March 11 ruling, a U.S. district judge vacated a subpoena to the Federal Reserve Board of Governors, finding that … Read more
U.S. employers unexpectedly laid off workers in February and the unemployment rate rose, raising questions about the health of the labor market. The United States unexpectedly lost 92,000 jobs in February, and the unemployment rate rose to 4.4%. After a strong start to the year, nonfarm payroll employment fell by 92,000 last month, data from … Read more
Although Robert Kiyosaki described the cryptocurrency as “collapsed,” he revealed on Saturday that he had purchased another complete set of cryptocurrencies. Bitcoin He purchased the digital asset for $67,000 and said he viewed the digital asset as a shield against U.S. dollar weakness and a bet on its limited supply. Robert Kiyosaki bought $67,000 in … Read more