Key Insight: The Federal Reserve Thursday voted unanimously to reappoint all existing regional Fed bank presidents and first vice presidents. Supporting data: All 12 regional Fed Bank presidents and first vice presidents serve five-year terms ending in years that end with a 1 or a 6. The terms expire on Feb. 28, 2026, but the […]
Fed unanimously reappoints all regional presidents Read More »
The Federal Reserve delivered another 25-basis-point cut to its benchmark interest rate on Wednesday, setting the target range at 3.5% to 3.75% amid signs of a softening labor market and inflation that’s still above the central bank’s 2% target. The move marks the Fed’s third straight rate cut to end 2025, following 25-bps cuts in
Fed delivers third straight rate cut, but housing market will see limited relief Read More »
In a highly expected move, the Federal Reserve cut its federal funds rate on Wednesday, but Chairman Jerome Powell’s comments ultimately may have more influence on whether policy provides a boost for lenders and home buyers. Processing Content The central bank slashed its funds rate by 25 basis points at the close of the Federal
Fed moves won’t move needle on housing — yet Read More »
Key takeaway: A majority of Supreme Court Justices appeared willing to undo a nearly century-old precedent underpinning the notion of independent regulatory agencies. Expert quote: “Humphrey’s must be overruled. It has become a decaying husk with bold and particularly dangerous pretensions. It was grievously wrong when decided and cases [in recent years] have thoroughly eroded
Supreme Court doubtful on validity of independent agencies Read More »
Key Insight: Expectations are building that the regional Fed president reappointments set for February will break from historical norms, with a higher likelihood of dissents from the board of governors expected at the very least. Expert Quote: “A couple of ‘no’s’ or abstentions can illustrate that the reappointment process is not merely a rubber-stamping or
Inside the brewing battle over regional Fed bank leadership Read More »
Key takeaway: Treasury Secretary Scott Bessent said in an appearance Wednesday that the Federal Reserve should require regional Fed presidents to reside in their districts for three years going forward. Supporting data: All 12 regional Fed presidents’ terms expire every five years and are reappointed as a bloc. The next vote on reappointing regional bank
Bessent floats residency rule for regional Fed presidents Read More »
Several candidates have been publicly identified to serve as the next chair of the Federal Reserve, with current Chair Jerome Powell‘s term coming to an end in May. Treasury Secretary Scott Bessent told CNBC’s Sara Eisen in October that he would give President Donald Trump “three or four candidates for him to interview” shortly after Thanksgiving. Trump, however, told reporters
With Powell set to move on, who are the candidates for the next Fed chair? Read More »
Aaron Schwartz/Bloomberg Key Insight: Federal Reserve Gov. Stephen Miran said certain bank regulations are preventing the Fed from further shrinking its balance sheet. Expert Quote: “Trying to settle the ongoing debates on how monetary policy is best implemented before settling the regulatory framework is putting the cart before the horse.” — Federal Reserve Gov. Stephen
Fed’s Miran: Banks should hold more Treasuries, less reserves Read More »
Former Federal Reserve Governor Adriana Kugler is said to have engaged in several financial transactions that violated the central bank’s ethics rules, multiple outlets have reported. That’s according to filings made public by the Office of Government Ethics on Nov. 15. They revealed that Kugler filed the disclosures in September. The forms show that Federal
Former Fed Governor Kugler violated trading rules, filings show Read More »
Jeremy Erickson/Bloomberg Key insight: Economists see validity in Fed Gov. Miran’s argument that shelter inflation is coming down, but note the impact to overall inflation may vary in significance. Expert quote: “I don’t think that rental disinflation is really going to be enough of a reason on its own to say ‘mission accomplished on inflation.’ I
Fed Gov. Miran has a view on the economy. Is it persuasive? Read More »