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Fed's Powell: Central Bank Is Cutting 10% of Its Staff
Federal Reserve Chairman Jerome Powell said Wednesday the U.S. central bank is undergoing a notable reduction in the ranks of those who work for the institution.
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Fed Chair Stresses Labor Market Risks Over Inflation
Federal Reserve Chairman Jerome Powell underscored that downside risks to employment have become a rising concern for policymakers, even as inflation remains somewhat elevated.
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Trump's Newest Fed Appointee Wanted Half-Point Rate Cut
Stephen Miran, who was appointed to the Federal Reserve on Monday, was the only policymaker to vote against a move by the Fed to cut the interest rate by a quarter point - because it wasn't a big enough reduction.
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Fed Cuts Key Rate a Quarter-Point, Signals 2 More
The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation's labor market.
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Bessent to Be Named IMF's 2nd-in-Command: Source
The US Treasury Department's chief of staff is anticipated to join the International Monetary Fund (IMF) in a key role as its number-two official, a source told AFP Wednesday.
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Anna Kelly: Trump's UK Visit Will Boost Economic Ties
President Donald Trump's second state visit to the United Kingdom, which opened with pageantry today, will shift Thursday to focus on economic ties, with three new agreements expected to expand cooperation between the nations, deputy press secretary Anna Kelly said in a Newsmax interview.
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Single-Family Housing Starts Plunge to 2-1/2-Year Low
U.S. single-family homebuilding plunged to a near 2-1/2-year low in August amid a glut of unsold new houses, suggesting the housing market could remain a drag on the economy this quarter.
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Fed Expected to Cut Rates, Update Economic Views
The most politically charged U.S. Federal Reserve meeting in years wraps up Wednesday with broad expectations for a quarter-percentage-point interest rate cut that might spark dissents from some policymakers who feel it is too small and too late.
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Realtor Survey: US Housing Market Stuck in a Rut
The United States' sluggish housing market will remain weak through next year as high mortgage rates stifle demand with only a modest rebound expected in 2027, a Reuters survey of property experts showed.
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US Retail Sales Beat Expectations in August
U.S. retail sales increased more than expected in August, but momentum could ease amid labor market weakness and rising goods prices because of tariffs on imports.
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Fed Avoids Shock to Independence for Now
The U.S. central bank opens a two-day policy meeting Tuesday having skirted, for now, a first-ever effort by the U.S. President to remove a sitting Fed governor, but still facing unprecedented pressure from the White House to bring monetary policy more under the direct...
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Merz Plunges Germany Into a Debt Spiral
The Bundestag's Budget Committee reached an agreement on Sept. 5 regarding this year's federal budget. In the end, record debt remains, publicly masked with accounting tricks and hopeful rhetoric.
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How the Democrat Party Could Reinvent Itself
Zohran Mamdani, if elected mayor of New York, would put the city at loggerheads with a reform movement within a Democrat Party that is searching for an answer to President Trump's populist agenda-tariffs, tax cuts and deregulation.
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Half the World Lowers Taxes on America
Trump's Trade Contracts Lower Tariffs to 4 Billion Customers and Lower Interest Rate Policies Set Stage for Golden Age Boom of Exports Driving S&P and US Stock Indexes.
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Trump Demands Immediate, Large Fed Rate Cut
President Donald Trump is once again pressing the Federal Reserve to slash interest rates, issuing a call on Truth Social for a substantial reduction in borrowing costs.
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Will 'Too Late' Powell Become 'Not Enough' Powell?
Fed Chair Jerome Powell has developed an unfortunate reputation for being chronically late with his appropriate policy decisions. His most significant misstep came when he maintained near-zero interest rates from January 2021 to June 2022, all while inflation spiraled out...
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The Fed Risks Falling Behind (Again)
The Federal Reserve is poised to repeat a costly mistake. Unless it cuts interest rates by half a percentage point at its meeting this week, the central bank risks allowing the economy to weaken further before policy catches up.
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Bessent: TikTok Deal Close, Hinges on China Trade Deal
The United States and China are close to reaching an agreement on social media platform TikTok but a deal could hinge on Chinese demands for trade concessions, U.S. Treasury Secretary Scott Bessent said Monday before entering a second day of talks in Madrid.
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Trump Admin Renews Push to Fire Fed Gov. Lisa Cook
President Donald Trump's administration renewed its request Sunday for a federal appeals court to let him fire Lisa Cook from the Federal Reserve's board of governors, a move the president is seeking ahead of the central bank's vote on interest rates.
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Morgan Stanley Expects 3 Interest Rate Cuts This Year
Morgan Stanley said Friday it expects the U.S. Federal Reserve to cut interest rates in all three of its meetings this year, after data showed U.S. consumer prices increased by the most in seven months in August.
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Fed's Fear Meter Hints at Stagnation, Not Stagflation
Federal Reserve officials, already expected to cut interest rates next week, may also be closer to settling a months-long debate over the risks of stagflation after recent data showed longstanding weakness in hiring and easing inflation concerns.
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US August Deficit Falls to $345B as Tariff Revenues Rise
The U.S. budget deficit for August fell $35 billion or 9% from a year earlier to $345 billion as President Donald Trump's tariffs pushed net customs receipts up by about $22.5 billion for the month, the Treasury Department said Thursday.
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Lutnick to Newsmax: Trump Economy About to Explode
President Donald Trump's economy is about to deliver explosive growth, despite jobs numbers in August coming in lower than expected, Commerce Secretary Howard Lutnick predicted in an extensive interview with Newsmax on Thursday.
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Household Net Worth Rebounds to Record High in Q2
U.S. household wealth rose to a record $176.3 trillion in the second quarter on the back of a resurgent stock market and climbing property prices, data from the Federal Reserve showed Thursday.
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Lutnick: US Will 'Sort Out' Trade With India
U.S. Commerce Secretary Howard Lutnick said Thursday he believes the United States will sort out a trade deal with India as soon as that country stops buying Russian oil.