Breaking news
U.S. economy expanded 3.3% in Q2, with growth even stronger than initially thought
A shopper holds Macy’s bags outside the company’s flagship store in the Herald Square neighborhood of New York, July 15, 2025. Alan Chin | Bloomberg | Getty Images The U.S. economy grew at a pace that was faster than expected in the second quarter as consumers and businesses held up against tariff volatility. Gross domestic […]
Read More
Fed’s John Williams stresses independence as Trump moves to fire Lisa Cook
New York Federal Reserve President John Williams on Wednesday stressed the importance of central bank independence as President Donald Trump looks to exert control over monetary policy. In a CNBC interview, the influential policymaker avoided commenting directly on Trump’s efforts to fire Fed Governor Lisa Cook but did note the important economic role the central […]
Read More
Trump says government will make deals like Intel stake ‘all day long’
President Donald Trump on Monday boasted about the government’s new stake in Intel and said he’s determined to do similar deals. “I will make deals like that for our Country all day long,” the president posted on Truth Social. Trump added that “stupid people” are upset with a move that he said will bring more […]
Read More
Cleveland Fed’s Hammack casts doubt on interest rate cuts amid inflation worries
Key Points Cleveland Federal Reserve President Beth Hammack said Friday she would be hesitant about lowering interest rates as long as inflation remains a threat. In a CNBC interview, she said, “I don’t want to move us to a place where we’re being accommodative, because I worry that if we’re accommodative, we could reinvigorate the […]
Read More
Watch Fed Chair Powell’s full policy speech at Jackson Hole
Federal Reserve Chair Jerome Powell delivered his annual address Friday morning at the central bank’s annual symposium in Jackson Hole, Wyoming. He indicated that conditions ‘may warrant’ interest rate cuts as the Fed proceeds ‘carefully.’ Markets have been looking to Powell to provide strong hints about a September interest rate cut. For their part, the […]
Read More
Fed Chair Powell set to deliver big Jackson Hole speech Friday. Here’s what Wall Street expects
Key Points Fed Chair Jerome Powell is set to deliver what almost certainly will be his last keynote address at the central bank’s annual conclave during one of the most tumultuous times in its history. Amid several controversies, Powell could use the speech to at least take a sideswipe at the political distractions even if […]
Read More
Kansas City Fed’s Schmid shows hesitation about widely expected September rate cut
Key Points Kansas City Federal Reserve President Jeffrey Schmid in a CNBC interview Thursday expressed doubt about lowering interest rates in September, saying there’s more work to do on inflation. Schmid is a voter this year on the rate-setting FOMC. Source
Read More
Divided Fed worried about tariffs, inflation and the labor market, minutes show
Key Points The meeting summary depicted a divergence of opinion among the central bankers, whose vote to hold their key rate steady came despite objections from two Fed governors who argued in favor of cutting. “Participants generally pointed to risks to both sides of the Committee’s dual mandate, emphasizing upside risk to inflation and downside […]
Read More
Hassett likely to be Trump’s pick for Fed chief, though Warsh is more qualified, CNBC survey finds
White House economic adviser Kevin Hassett speaks next to U.S. President Donald Trump in the Oval Office of the White House in Washington, D.C., U.S., March 7, 2025. Leah Millis | Reuters President Donald Trump will tap his top economic advisor Kevin Hassett to be the next Federal Reserve chair, according to respondents to a […]
Read More
Bessent says interviews for ‘incredible group’ of potential Fed chairs will start after Labor Day
Key Points Treasury Secretary Scott Bessent said he will begin interviewing candidates for Fed chair soon as the White House whittles down what has suddenly become a crowded field of 11 candidates. In a CNBC “Squawk Box” interview, Bessent repeated the administration’s desire for easing, saying it would help the moribund U.S. housing market. Source
Read More