![]() ![]() John Durham to testify on Capitol Hill after scathing reportĭeSantis appeals to voters in Nevada speech: ‘We need to restore sanity’ GOP leaders face down conservative threats to paralyze House againįBI, airport fights put DC-area senators in spotlightīarr blasts Trump’s defense in document case as ‘absurd’ Hutchinson warns Republicans to ‘back off’ allegations DOJ has been. GOP House Intel chair says Trump classified documents case ‘of grave. Trump’s attacks on FBI, DOJ create Senate GOP faultline The Memo: Barr, Bolton, Kelly line up to condemn Trump over alleged crimes Pence on Trump: I don’t know why other GOP 2024 candidates ‘presume the. “We’d like to see … credible evidence that inflation is topping out and then beginning to come down,” he continued. “We’ve moved much closer to our destination,” Federal Reserve Chairman Jerome Powell said during a Wednesday press conference, but said he and fellow officials are still on watch for a reversal. ![]() ![]() With inflation plunging toward the Fed’s target and the economy showing signs of slowing, the central bank is now taking a step back. Federal Reserve Board Building in Washington May 19. Federal Reserve Chairman Jerome Powell speaks during the Thomas Laubach Research Conference at the William McChesney Martin Jr. Higher interest rates tend to slow the economy and sap consumer demand, two of several forces behind inflation. “Holding the target range steady at this meeting allows the Committee to assess additional information and its implications for monetary policy,” the Federal Open Market Committee (FOMC) said in a statement.Īs inflation reached four-decade highs last summer, the Fed rapidly boosted rates to snuff out rapid price growth and cool off a historically strong job market. The Fed funds rate range will remain at 5 to 5.25 percent, the highest level since 2008. ![]()
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