New York CNN  —  The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability. Investors and economists had widely anticipated the quarter-point increase despite the meltdown in the banking sector. Still, Federal Reserve ChairmanContinue Reading

Even with turmoil in the banking industry and uncertainty ahead, the Federal Reserve likely will approve a quarter-percentage-point interest rate increase next week, according to market pricing and many Wall Street experts. Rate expectations have been on a rapidly swinging pendulum over the past two weeks, varying from a half-pointContinue Reading

Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on February 01, 2023 in Washington, DC.  Kevin Dietsch | Getty Images Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakersContinue Reading

Lael Brynard’s new role will make him Jerome H. Powell’s closest monetary policy partner.Lael Brainard, who has been the Federal Reserve’s governor since 2014, was likely to replace Jerome H. Powell as Fed chairman, but President Biden’s promotion to the Fed’s second position will keep him in a strong positionContinue Reading

Mohamed El-Erian Scott Mlyn | CNBC The Federal Reserve is losing credibility over its long-standing view that inflation is transitory, according to Mohamed El-Erian, chief economic advisor at Allianz. “I think the Fed is losing credibility,” El-Erian said Monday. “I’ve argued that it is really important to reestablish a credibleContinue Reading