The Bank of England followed the examples of the European Central Bank and the Bank of Canada by enacting a new rate cut. The central bank’s Monetary Policy Committee (MPC) voted 7-2 to reduce Bank Rate by 0.25 percentage points, to 4.5%. The two dissenting members...
Jerome Powell can relax – President-elect Donald Trump stated he would not try to replace him before his terms as Federal Reserve chairman ends in May 2026. In an interview broadcast on NBC’s “Meet the Press,” moderator Kristen Welker pressed Trump on retaining...
The Federal Reserve enacted its second consecutive rate cut, with a 25-basis point drop that brings the federal funds rate range to 4.5% to 4.75%. The unanimous decision by the central bank’s Federal Open Market Committee follows the September decision for a 50-basis...
While Jerome Powell’s Federal Reserve continues to debate whether to cut rates, two central banks in Europe are already witnessing economic progress from their respective rate cuts. The Bank of England’s first rate cut in four years sparked a renewed interest in...
Patrick T. Harker is president and CEO of the Federal Reserve Bank of Philadelphia. This article was adapted and edited from prepared remarks delivered at the recent Global Interdependence Center 42nd Annual Monetary and Trade Conference in Philadelphia. Allow me to...
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
