Reckless government spending enabled by the Federal Reserve is hurting average Americans and threatening President Joe Biden’s chances of being re-elected, billionaire investor Stanley Druckenmiller said Tuesday. During an appearance on CNBC’s “Squawk Box,” the head of the Duquesne Family Office, who made his name betting against the British pound in the early 1990s, criticized…
A sign advertising a home for sale is displayed outside a building in Manhattan on April 11, 2024 in New York City. Spencer Platt | Getty Images The dream of owning a home has become even more distant for renters as higher housing costs and higher interest rates stand in the way of America’s homeownership…
The Federal Reserve spent much of 2022 and 2023 focusing narrowly on inflation while policymakers set interest rates: prices rose far too quickly, making them the central bank’s top priority. But now that inflation has cooled, officials are again more clearly incorporating the labor market into their decisions. A possible challenge? It is very difficult…
Federal Reserve officials left interest rates unchanged and signaled they were mindful of how stubborn inflation would prove, paving the way for a prolonged period of high borrowing costs. The Fed kept interest rates steady at 5.3 percent on Wednesday, leaving them at their highest level in more than two decades, where they have been…
Federal Reserve officials left interest rates unchanged, signaling they are aware of how stubborn inflation is proving, paving the way for an extended period of high interest rates. The Fed kept borrowing costs steady at 5.33 percent on Wednesday, keeping them at their highest level in more than two decades where they have been set…
Federal Reserve officials have strongly advocated for their separation from politics, but the presidential election is putting the institution on a crash course with partisan infighting. Fed officials set policy independently of the White House, meaning that while presidents can push for lower interest rates, they cannot force central bankers to lower borrowing costs. Congress…
Federal Reserve Chairman Jerome Powell prepares to testify before the Senate Banking, Housing and Urban Affairs Committee on March 7, 2024. Kent Nishimura | Getty Images News | Getty Images With stubborn inflation raising concerns about the future direction of monetary policy, the Federal Reserve is caught in a holding pattern that will likely be…
More than two years after the Federal Reserve began raising interest rates to slow growth and weigh on inflation, companies continue to hire, consumers continue to spend and policymakers are wondering why their hikes were not more aggressive. The answer probably lies, in part, in a simple reality: High interest rates don’t hurt Americans who…
A customer shops for groceries at a grocery store on March 12, 2024 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images The final inflation news that Federal Reserve officials will see before their policy meeting next week is in, and none of it is particularly good. Overall, Commerce Department indexes,…
Heading into 2024, investors expected the Federal Reserve to cut interest rates significantly this year due to cooling inflation. But the price increases have been surprisingly persistent, forcing Wall Street to rethink. Investors and economists are wondering when and to what extent Fed policymakers will be able to cut interest rates – and some are…
