Kevin Warsh
Trump establishes committee to investigate Federal Reserve’s Lisa Cook in latest effort to fire her
WASHINGTON | President Donald Trump opened another chapter in his effort to fire Federal Reserve Governor Lisa Cook Friday by establishing a “committee of inquiry” to investigate allegations that she made false statements in mortgage applications. The inquiry will include a hearing at the White House Nov. 5, Trump said in a written memo, that […]
Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut
WASHINGTON | The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House. The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could result in higher borrowing […]
Federal Reserve is expected to raise its benchmark rate, defying Trump’s demands
WASHINGTON | The Federal Reserve is widely expected to lift its short-term interest rate Wednesday for the first time in three years to fight stubbornly high inflation, a move that would put the central bank at odds with President Donald Trump’s support for a cut. A quarter-point increase in the Fed’s rate, currently about 3.6%, […]
US inflation accelerated last month as gas prices spiked, squeezing Americans’ finances
WASHINGTON | U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges that are top of mind for many voters with midterm elections now just seven weeks away. The consumer price index rose 3.4% last month compared with a year ago, the […]
Fed’s Waller says central bank’s next rate move depends on upcoming inflation report
WASHINGTON | Federal Reserve governor Christopher Waller said Thursday that an inflation report next week will largely determine whether he supports an interest rate hike later this month or not. The government will release August inflation figures Sept. 11, and if that report shows inflation continues to cool, then Waller said he would be willing […]
Fed Chair Warsh signals rate hikes may be needed with inflation still elevated
JACKSON HOLE, Wyoming | Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he has previously sent about his economic outlook. In his first high-profile speech at the […]
Warsh says Fed has ‘no tolerance’ for high inflation but provides no hints on next move
WASHINGTON | Federal Reserve Chair Kevin Warsh said Tuesday that the Fed will make high inflation “a thing of the past,” yet he provided no signal about the central bank’s next steps. Fed policymakers “have no tolerance for persistently elevated inflation,” Warsh said in his first appearance before Congress since becoming chair May 22, replacing […]
Key inflation gauge jumps to 3-year high in latest sign of affordability challenges
WASHINGTON | The Federal Reserve’s preferred inflation gauge rose to a new three-year high in May as gas prices peaked, a sign rising costs could pose political problems for President Donald Trump and his political party as midterm elections near. Consumer prices rose 4.1% in May from a year earlier, the Commerce Department said Thursday, […]
Jerome Powell uses JFK award speech to warn against political pressure on Fed, courts and schools
BOSTON | Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to defend independent institutions while accepting an award Sunday honoring his efforts to preserve the central bank’s independence. Speaking at the John F. Kennedy Presidential Library overlooking Boston Harbor, Powell called universities, courts, Congress and the […]