Economic news

Federal Reserve Gov. Stephen Miran said higher goods prices could be the trade-off for bolstering national security and addressing geo-economic risks.

Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.

The Federal Reserve Board of Governors voted Wednesday to reappoint 11 sitting regional Fed presidents, without any dissents. The move precludes any effort the White House might have made to pressure the board to deny reappointments.

Fed Chair Jerome Powell, speaking at a press conference after the December FOMC meeting, said the central bank is holding interest rates steady until it gets more clarity on the economy.

The Federal Reserve's interest rate-setting committee is widely expected to cut rates by 25 basis points today, but where the central bank goes from here is an open question.

A survey compiled by the American Financial Services Association showed deteriorating business conditions during the third quarter of this year. The outlook for subprime borrowers was particularly grim.

In oral arguments held Monday morning, a majority of Supreme Court justices seemed poised to overrule a 90-year-old precedent validating multimember independent commissions, but it remains uncertain what limits — if any — the court may impose on the president's removal powers.

Federal Reserve watchers expect a board of governors vote in February to reappoint the 12 regional Fed bank presidents — which is typically treated as a formality — to be the next flashpoint in the White House's effort to bring the central bank to heel.

Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.

Former Comptroller of the Currency Eugene Ludwig has written a book called The Mismeasurement of America that lays out the shortcomings of the standard economic data that U.S. government and businesses use to make decisions, and how this data obscures the truth about how low-income Americans are actually faring.

Years ago, the Federal Housing Administration helped finance thousands of loans for manufactured housing. An effort to restart that program would help millions of Americans afford their own homes.

Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.

The economy added an unexpectedly robust 119,000 jobs in September, though unemployment edged up to 4.4%. The report, delayed by the federal government shutdown, continues a trend of sluggish job growth in recent months.

With the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee

Federal Reserve Gov. Stephen Miran argues that banks holding excess reserves are keeping the central bank's balance sheet bigger than it should be, and suggested that regulatory changes could help bring those reserves down.

Federal Reserve Gov. Christopher Waller said in a speech Monday that private and public-sector data suggests that the labor market is continuing to weaken, making a 25 basis point rate cut in December a prudent choice.

Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.

Federal Reserve Bank of Atlanta President Raphael Bostic won't seek reappointment following the end of his current term on Feb. 28, 2026.

The founder and CEO of the buy now pay later giant spoke with American Banker about how agentic AI will soon revolutionize the way consumers shop, make purchases and manage their personal finances. That will be accretive for Affirm, especially in a world where agents are making payments on behalf of consumers.