Tag: Jerome Powell
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Jerome Powell gives his last press conference as Chairman of the Federal Reserve
Yesterday evening, Jerome Powell gave his last press conference as Federal Reserve Chairman before his mandate ends on May 15th. Powell congratulated Kevin Maxwell Warsh who will be replacing him, but said that he will not resign from the board until an investigation against him is concluded. The investigation was initiated by President Trump’s Department…
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Chairman Powell remains unchanged despite DOJ subpoena
Despite pressure by President Donald Trump to lower interest rates, including via a trumped-up case by the Department of Justice, US Federal Reserve Chairman left the main central bank interest rate unchanged at the 3.5-3.75% range. The US Federal Reserve Chairman highlighted that inflation in goods is increasing mainly due to tariffs while there is…
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Fed Chair Jerome Powell fights back political interference after receiving DOJ subpoena
Federal Reserve Jerome Powell released a statement saying that the Federal Reserve has received a grand jury subpoena by the Department of Justice over his testimony to Congress about ongoing renovations at the Federal Reserve. However, Federal Reserve Chairman Jerome Powell said that the subpoena was primarily caused as part of President Donald Trump’s pressure…
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Federal Reserve cuts rates: forecasts solid growth for next year
The US Federal Reserve has cut its main interest rate buy another quarter percentage point bringing the main interest rate down to 3.5-3.75%. This is the second consecutive cut since October. Economic growth forecasts have been raised to 1.7% by the end of this year and 2.3% next year, slightly higher than projections. Labour market…
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Fed Chair Powell warns inflation is elevated: Fed cuts interest rate by 0.25%
US Federal Reserve Chairman Jerome Powell said that inflation is going higher and is elevated after the Fed announced a 0.25% interest rate cut from 4.5% to 4.25%. The Fed will also continue to reduce its balance sheet by reducing its Treasury holdings, agency’s debt and agency mortgage-backed securities. You can read the Fed’s statement…
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Federal Reserve renews its warning on inflationary risks if more tariffs are effected
The US Federal Reserve has once again warned that inflation may make a strong comeback if the US President goes ahead and slaps another round of tariffs on US imports. Last month, the US Federal Reserve lowered economic growth forecasts due to newly imposed US tariffs. The latest report by the US Federal Reserve shows…
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Federal Reserve lowers economic growth forecasts due to tariffs and tariffs-induced inflation
The US Federal Reserve has lowered its economic growth forecast for the rest of the year citing uncertainty and potential risks with tariffs and tariffs-induced inflation. US economic growth for 2025 is projected at 1.4% with inflation at 3%. Economic growth is set to pick up next year according to the Fed’s projections at 1.6%.…
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Federal Reserve keeps interest rates projections unchanged
The Federal Reserve has kept its interest rate projections for this year unchanged and retained its current interest rate at 4.25%-4.5%. The interest rate is projected to be lowered between 3.5% and 4% by the end of the year as inflation slows down from its estimated 2.7% average in 2025 to an average of 2.2%…
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Federal Reserve Chairman Jerome Powell says he had no contact with President Trump as interest rates remain unchanged
During his press conference following the Federal Reserve interest rate announcement, Chairman Jerome Powell said he had no contact with President Trump. The Federal Reserve has kept its interest rate unchanged at 4.5% despite demands from President Trump to lower it further. The Federal Reserve is constitutionally autonomous from the US Presidency. Asked in November…
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Fed interest rate brought down to 4.50%: Chairman Jerome Powell says prospects for the US economy are bright
The United States Federal Reserve has brought down its basic interest rate to 4.5% after cutting it down by 25 basis points. In the press conference following the announcement, Chairman of the Federal Reserve Jerome Powell said that the prospects of the US economy look very good and it’s doing relatively much better than its…
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The Federal Reserve reduces its interest rate by 0.25% to 4.75%
The United States Federal Reserve was less generous than at its previous meeting on its much anticipated reduction of interest rates as it yesterday announced that it has reduced its interest by 0.25% bringing its main rate to 4.75%. US Treasury Secretary Janet Yellen was calling for a 0.5% reduction like last meeting. In its…
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The US Federal Reserve cuts interest rates by 0.5%
The US Federal Reserve has cut down interest rates by 0.5% in a rare and powerful dovish move, despite traders expecting a cut of only 0.25%. The US Federal Reserve’s interest rate is now set in the range between 4.75% and 5%. Inflation for August was record at 2.2% in line with expectations with the…
