Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
In a speech, Federal Reserve Gov. Adriana Kugler said sound monetary policy comes when electoral politics are kept out of central banking.
The Federal Reserve Board's top payments official said the agency should not move forward with its push to lower the cap on debit interchange fees until it has a better understanding of recent Supreme Court decisions.
The president-elect's deregulatory promises have drawn applause from banking groups, but some advisors warn that if the next administration extends that permissive posture to crypto, it could create significant headaches for banks.
The Federal Reserve's top official was emphatic that he and other leaders on the Board of Governors cannot be dismissed or demoted at will by the president.
The Federal Reserve's Federal Open Market Committee will announce its interest rate decision at 2pm, followed by a press conference with Federal Reserve chair Jerome Powell. Markets are expecting a 25 basis point rate cut at today's meeting.
At a minimum, president-elect Donald Trump can make two appointments to the Federal Reserve Board of Governors and choose new leadership. But more substantial changes could be in the offing.
The impact of both presidential candidates' fiscal promises around taxation and spending could have dramatic effects on the Federal Reserve's outlook for monetary policy, which has become more aggressive toward rooting out inflation.
Sens. Elizabeth Warren and John Hickenlooper say recent data suggests there is "no need for restrictive interest rates" and easier monetary policy is necessary to lower housing costs.
Initial employment data shows virtually no job growth in October. With the Federal Reserve's focus on the labor market, the reading could seal the deal for a November rate cut.
Core PCE held steady as service costs rose, but the overall report maintains the central bank's flexibility ahead of next week's Federal Open Market Committee meeting.