President Joe Biden will make his case for bringing back factory jobs in the U.S. during a speech in New Mexico.
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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. The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy. The only dissenter was Stephen Miran, the recent Trump-appointee.
Fed convenes meeting to set interest rates amid controversy over Gov’s
After a late-night vote and last-minute ruling, the Federal Reserve began a key meeting on interest rate policy Tuesday with both a new Trump administration appointee and an official the White House has targeted for removal.
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