Update 905 — Fed Again Cuts Rates,Weighing Labor Weakness, CPI Gains The Federal Reserve cut interest rates by 25 basis points, as expected, at the conclusion of its October FOMC meeting this afternoon. Fed Chair Powell noted that the outlook for inflation and the labor market has not significantly shifted since September. Fed Governor Stephen …
Update 904 — September CPI up to 3%;Roadmarks ahead for Ongoing Shutdown This morning saw the release of new data showing that prices rose 3.0 percent on an annualized basis in September — the highest level since January. The price increase and the steady increases in recent months are the by-product of the Trump administration’s …
Update 900 — Sup. Court and the Economy:Docket Includes Tests of Trump’s Authority On Monday, the Supreme Court began its new term, with a docket that includes several cases pivotal for the Trump administration’s economic agenda. Among these cases are ones challenging the President’s tariffs, his authority to fire heads of agencies such as the …
Update 894 – Fed Cuts Rates 25 BPs; Only Dissent: Trump-Nominated Miran The Federal Reserve cut interest rates by 25 basis points, as expected, at the conclusion of its September FOMC meeting this afternoon. Fed Governor Stephen Miran, who has not resigned from his position at the White House, dissented, voting instead for a 50 basis …
Update 893 – Macro Muddle Faces Fed; Democrats’ Shutdown Strategy Emerges The nation’s macroeconomic picture got murkier this week, with CPI showing August prices rising by the most since January, even as jobless claims jumped by the most in four years this week and unemployment edged up last month — “a curious kind of balance,” …
Update 892 – SBC OK’s Miran for Fed;Court Allows Cook to Remain on Board President Trump’s effort to stack the board of the Federal Reserve with friendly voices advanced today as Stephen Miran, Chair of the White House Council of Economic Advisors, was confirmed by the Senate Banking Committee to a seat on the Federal …
Update 891 – Aug. Job Gains’ Slowdown;SBC Miran Fed Hearing Raises Concerns The August jobs report released this morning showed a much lower-than-expected 22,000 jobs added to the economy last month and a net 13,000 job loss in June, with Trump’s tariffs noticeably softening the labor market. The soft jobs data comes as the Trump …
Update 890 – Fed Independence Cooked?Landmark Suit vs. Trump Firing Launched President Trump attempted to fire Federal Reserve Governor Lisa Cook on Monday after his administration accused her of fraud – a crime she has not been charged with or convicted of. Cook has refused to step down and challenged her attempted “for cause” removal …
Update 887 – Data, Policy Independence:Implications of BLS Firing, Fed Nomination President Trump is set to shape two key economic institutions – the Bureau of Labor Statistics and the Federal Reserve – this week following his dangerous, unprecedented dismissal of Commissioner of Labor Statistics Erika McEntarfer and the unexpected resignation of Fed Governor Adriana Kugler …
Update 887: Implications of BLS Firing, Fed Resignation Read More »
Update 885 – Fed Not Ready to Cut;Dissents from Two Chair Aspirants The Federal Reserve hit pause, as expected, on interest rates at the conclusion of its July FOMC meeting this afternoon, with two Trump-appointed Fed Governors – Waller and Bowman – dissenting. Such a dissent is rare. Today marks the first time two FOMC …
