She says she regrets saying inflation was “transitory.” Secretary of the Treasury Janet Yellen shared this week that she believes rent prices will go down overall for the…
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Business and Banking Groups File Suit Against Updated Lending Policy
Changes to the Community Reinvestment Act expanded the geographic range. Multiple U.S. banking and business groups sued the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the…
Read MoreTreasury Secretary Says Prices Are Not Coming Back Down
She says that the economy continues to defy recession. During a speech in Boston in early January, Treasury Secretary Janet Yellen said inflation was cooling and that, in…
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Federal Reserve Expects to Cut Rates in New Year
Central bank officials kept the current rate steady in the final meeting of 2023. The Federal Reserve concluded its final quarterly meeting this month, holding interest rates steady…
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Federal Reserve Keeps Interest Rate Unchanged
They leave the door open for future rate hikes. The Federal Reserve determined to keep its benchmark interest rate at about 5.4 percent this past week, the highest…
Read MoreSenator Sends Letter to Federal Reserve Chair
Requests the central bank move quicker in reducing assets. Senator Rick Scott of Florida wrote another letter to Federal Reserve Chair Jerome Powell on Wednesday, asking why their…
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Federal Reserve Chair Says Inflation Still Too High
The trend has slowed, but not enough. The Federal Reserve Chairman Jerome Powell said in comments to the Economic Club of New York that inflation remains too high…
Read MoreFederal Reserve Reports Top 1% of Americans Becoming Richer
Highest income generators now hold 26.5 percent of total household net worth. The Federal Reserve released income data for the month of June in late September, tracking a…
Read MoreFederal Reserve Maintains Current Interest Rate
Chairman Powell anticipates addressing inflation into 2026. The Federal Reserve wrapped up a two-day long policy meeting this week, where the members decided to leave the interest rate…
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Senate Confirms New Federal Reserve Positions
The president commends the approval of the vice chair and new governor. The Senate confirmed Philip Jefferson and Lisa Cook to positions in the Federal Reserve. Jefferson, a…
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