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The Federal Open Market Committee (FOMC)’s move brings the Fed’s new key target range to 4.5-4.75 percent, back to levels last seen in the spring of 2023. This decision was an easy one.
The Federal Open Market Committee was formed by the Banking Act of 1933 (codified at 12 U.S.C. § 263) and did not include voting rights for the Federal Reserve Board of Governors. The Banking Act of 1935 revised these protocols to include the Board of Governors and to closely resemble the present-day FOMC and was amended in 1942 to give the ...
Trump has promised to “defeat” inflation, though the rate at which prices are increasing has already returned to its historical norm of 2% to 3% over the past several months after peaking in ...
House speaker elections on Friday are less about Mike Johnson and more about Donald Trump. Johnson’s frantic fight to hold onto his job was still a cliffhanger heading into a fateful day for ...
On November 15, The Wall Street Journal reported that Trump was considering Fox Business host and former director of the National Economic Council Larry Kudlow for a "senior economic role", [58] and Trump announced that Steven Cheung and Sergio Gor would serve as White House communications director and personnel director, respectively. [59]
The White House chief of staff has traditionally been the highest-ranking staff employee of the White House. The responsibilities of the chief of staff are both managerial and advisory over the president's official business. The chief of staff is appointed by and serves at the pleasure of the president; it does not require Senate confirmation.
President-elect Donald Trump’s impending return to the White House appears to put the Federal Reserve on a slower and shallower path for interest rate cuts, with a slew of new policies embraced ...
The FOMC left rates unchanged the day after the Bankruptcy of Lehman Brothers. Official Statement: August 5, 2008 2.00% 2.25% 10–1 The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Official statement: April 30, 2008 2.00% 2.25% 8–2 The FOMC cut rates by 25 basis points.