Federal Reserve

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CNN Unearths Old Columns by Fed Pick Stephen Moore

His views about women are now under scrutiny, but he says these were 'spoof' pieces

(Newser) - One of President Trump's candidates for the Federal Reserve has a new media controversy, one he describes as "character assassination." CNN dug up several old columns written about 20 years ago by Stephen Moore for the conservative National Review. Provocative views about fiscal policy? Nope, Moore jokes... More »

After Controversy, Herman Cain Out of Running for Fed

2012 presidential candidate withdraws his name from consideration

(Newser) - Well, never mind: Herman Cain has withdrawn himself from consideration for the Federal Reserve Board. "My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board," Trump tweeted Monday. "I will respect his wishes. Herman... More »

Cain Nomination Appears Doomed

4 GOP senators don't want him on Fed board

(Newser) - Herman Cain now appears highly unlikely to be raised to the Federal Reserve's board of governors. Administration officials say the former Godfather's Pizza CEO is still President Trump's preferred candidate, but four Republican senators have now spoken out against the potential nomination , the Washington Post reports. With... More »

Name of Next Fed Pick Will Likely Ring a Bell

President will reportedly nominate Herman Cain, former presidential candidate

(Newser) - President Trump is apparently intent on putting another friendly face on the Fed. Both Bloomberg and Axios report that Trump will pick Herman Cain , the former CEO of Godfather's Pizza who ran for president in 2012. Axios says Trump is holding off on announcing the move until a background... More »

Trump's Fed Pick Has Large Unpaid Tax Bill

IRS is pursuing Stephen Moore for $75K

(Newser) - President Trump's controversial choice for a seat on the Federal Reserve board doesn't have his own finances in order, according to court documents. A federal tax lien in Maryland says conservative commentator Stephen Moore, who owns a home in the state, owes $75,328 in taxes and penalties,... More »

Trump Picks a Former Adviser for Fed Board

Stephen Moore has criticized Fed chairman's policies

(Newser) - President Trump said Friday he will nominate Stephen Moore, a conservative economic analyst, to fill a vacancy on the Federal Reserve's seven-member board. Moore, an often polarizing figure in political circles, served as an economic adviser to Trump during the 2016 presidential campaign, the AP reports, and helped draft... More »

The Fed Takes a No-Hike Position for 2019

The Federal Reserve left its key interest rate unchanged Wednesday

(Newser) - The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes in 2019, dramatically underscoring its plan to be "patient" about any further increases. The Fed announced that it was keeping its benchmark rate—which can influence everything from mortgages to credit cards to home... More »

Fed's Powell Delivers Report to Congress

Says US economy will likely experience solid but slower growth in 2019

(Newser) - Federal Reserve Chairman Jerome Powell told Congress on Tuesday the US economy should keep expanding at a solid, though somewhat slower pace this year. But he warned of growing risks, including a global slowdown, volatile financial markets, and uncertainty about US trade policy. In delivering the Fed's semiannual monetary... More »

Trump's Former Fed Chief Is Hitting Back at Him

Janet Yellen says POTUS does not understand the Fed

(Newser) - Janet Yellen, who was chair of the Federal Reserve until President Trump replaced her with Jerome Powell, says she doesn't think the POTUS understands economic policy or the Fed. In an extensive interview with the radio program Marketplace , Yellen cited Trump's statements "about the Fed having an... More »

Fed Keeps Key Rate Unchanged

Federal Reserve says it plans to be 'patient'

(Newser) - The Federal Reserve is keeping its key interest rate unchanged and signaling it could leave rates alone in coming months given economic pressures and mild inflation, the AP reports. The Fed also says it's prepared to slow the reduction of its bond holdings if needed to support the economy.... More »

Fed Chief's Comments Send Markets Surging

Jerome Powell says economy looks able to sustain momentum in 2019

(Newser) - A rosy jobs report and comments from Federal Reserve chief Jerome Powell suggesting that the Fed will be patient on rate hikes have helped lift the markets in a big way. The Dow surged 680 points, or 3%, in early trading, while the S&P 500 and Nasdaq each were... More »

Trump Lights Into Fed Again, This Time With Golf Analogy

'Like a powerful golfer who can’t score because he has no touch - he can’t putt!'

(Newser) - This much is clear: President Trump is unhappy with Federal Reserve chief Jerome Powell. Whether he can do anything about it, however, is another question entirely. A slew of reports, including in the Wall Street Journal , say Trump has been asking about whether he has the authority to fire the... More »

Fed Ends 2018 With a 4th Rate Hike

But it signals there will be fewer coming down the pike

(Newser) - The finally tally for 2018 will be four interest-rate hikes by the Federal Reserve, but the 2019 count will likely be half of that. The Fed on Wednesday announced a quarter-point increase for its key interest rate to a range of 2.25% to 2.5%. That's the highest... More »

The Markets Like What Fed Chair Powell Has to Say

Seemed to suggest Federal Reserve could pause interest rate hikes next year

(Newser) - Federal Reserve Chairman Jerome Powell cast a bright picture of the US economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year to assess the impact of its credit tightening. Powell's comments ignited a rally on Wall Street, with... More »

Trump: 'My Gut Tells Me More' Than Others' Brains

President also talks Putin, the murder of Jamal Khashoggi, climate change in wide-ranging chat

(Newser) - President Trump took the Washington Post on a wild ride through his thoughts on climate change, Russia, the killing of Jamal Khashoggi, and more in a 20-minute interview Tuesday. One main topic was the Federal Reserve, which he strongly criticized for raising interest rates. "I'm doing deals, and... More »

Trump on Fed Chief: 'Maybe' I Shouldn't Have Hired Him

President goes after Jerome Powell and central bank for raising interest rates

(Newser) - Framing the state of the economy in personal terms, referring to "my numbers," President Trump blasted Fed chief Jerome Powell and the central bank itself in an interview with the Wall Street Journal . Trump called the Fed the "biggest risk" to the economy, due to the three... More »

Trump: The Fed 'Is Going Loco'

He blames central bank for stock market drop

(Newser) - In a move that is traditionally considered highly unusual for a president, President Trump strongly criticized the Federal Reserve on Wednesday, blaming the central bank for the Dow's 831-point drop . The Federal Reserve has raised rates three times this year, with at least one more rise expected, and the... More »

Fed Again Hikes Interest Rates

And marks the end of 'accommodative' policy era

(Newser) - Federal Reserve officials voted Wednesday to raise a key, short term interest rate for the third time this year, the AP reports. Investors largely expected an increase in the federal funds rate—the interest that banks charge each other—based off public statements by Fed officials. The benchmark overnight lending... More »

Fed Keeps Key Interest Rate Unchanged

Signals future rate hikes

(Newser) - The Federal Reserve on Wednesday left its benchmark interest rate unchanged while signaling further gradual rate hikes in the months ahead as long as the economy stays healthy, the AP reports. The Fed's widely expected decision kept the central bank's key short-term rate at 1.75% to 2%—... More »

In Rare Move for a President, Trump Criticizes Fed

White House issues statement saying POTUS is not trying to influence the central bank

(Newser) - President Trump isn't happy with the Federal Reserve—but the fact that he said so is surprising. The POTUS told CNBC's Joe Kernen, in an interview that will air Friday on Squawk Box, "I'm not thrilled" with the two interest rate increases the Fed has instituted... More »

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