Economic news

The Federal Reserve is set to refrain from cutting interest rates for "quite a while," following a hotter-than-expected inflation report, according to Mohamed El-Erian. 

The Federal Reserve chair delivers his first semiannual monetary policy report of the 119th Congress, where he is expected to be asked about Fed independence and the economic impacts of Trump administration's policy choices.

Employers added fewer workers than anticipated last month, but upward revisions to previous estimates drove down the jobless rate. The report gives no clear directive to the Federal Reserve, which put rate cuts on hold last month.

As the Federal Reserve's overnight reverse repurchase agreement program nears zero, pressure could mount on the central bank to slow or stop its asset runoff as it fights inflation.

The president's rough-and-tumble trade negotiations have throttled financial markets, causing investors to flock to the safety of dollars and Treasuries. But some economists say this style of policymaking could have hurt the U.S.'s safe haven status in the long run.

A former senior advisor at the Federal Reserve Board was arrested and charged with economic espionage for conspiring to steal trade secrets and sell them to China for $450,000.

The Federal Reserve's monetary policy group is expected to hold rates steady, but the chairman will face a litany of questions about the year ahead and on the inflationary impact of implications of the Trump administration's early policy moves.

Some reforms to the system might be necessary, but it would be unwise to eliminate a critical source of funding for banks across the country.

With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.

The Labor Department estimates the economy added 256,000 jobs in December, indicating a resilient economy and labor market. For the Federal Reserve, which was already signaling a slowdown in rate cuts, the reading could justify holding rates steady.