Trump Calls on Fed's Cook to Quit
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The U.S. dollar drifted on Thursday as investors fretted about the Federal Reserve's independence after yet another attack from President Donald Trump ahead of remarks from Chair Jerome Powell later this week that could influence the outlook for rates.
Fed rate cuts are unlikely to lower borrowing costs for American homebuyers, according to one CIO. Mortgage rates and home prices remain elevated.
Almost all” officials backed July’s interest-rate decision, even though two governors backed a rate cut, according to a meeting summary.
Not even 48 hours after the conclusion of last month's meeting, data from the Labor Department appeared to validate the concerns of Bowman and Waller when it showed fewer jobs than expected were created in July.
President Trump escalated his attacks on the Federal Reserve by demanding the resignation of Fed Governor Lisa Cook over unproven mortgage fraud allegations, which she denies.
Federal Reserve officials believe inflation from new tariffs is just around the corner, and that American consumers are going to pay the costs, minutes of the Fed’s July meeting show.
Minutes from the Fed's July policy meeting revealed policymakers prioritized tariff-driven inflation risks over labor market concerns when keeping interest rates unchanged.
Minutes from the Federal Reserve’s July meeting showed policymakers grappling with a slowing labor market and inflation that remains above the central bank’s target.