Fed's Powell: Central Bank Is Cutting 10% of Its Staff
Federal Reserve Chairman Jerome Powell said Wednesday the U.S. central bank is undergoing a notable reduction in the ranks of those who work for the institution.
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Fed Chair Stresses Labor Market Risks Over Inflation
Federal Reserve Chairman Jerome Powell underscored that downside risks to employment have become a rising concern for policymakers, even as inflation remains somewhat elevated.
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Stephen Miran, who was appointed to the Federal Reserve on Monday, was the only policymaker to vote against a move by the Fed to cut the interest rate by a quarter point - because it wasn't a big enough reduction.
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Single-Family Housing Starts Plunge to 2-1/2-Year Low
U.S. single-family homebuilding plunged to a near 2-1/2-year low in August amid a glut of unsold new houses, suggesting the housing market could remain a drag on the economy this quarter.
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WH's Anna Kelly to Newsmax: Trump's UK Visit Will Boost Economic Ties
President Donald Trump's second state visit to the United Kingdom, which opened with pageantry today, will shift Thursday to focus on economic ties, with three new agreements expected to expand cooperation between the nations, deputy press secretary Anna Kelly said in a Newsmax interview.
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Fed Cuts Key Rate a Quarter-Point, Signals 2 More
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.
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