The Latest Breaking News from Jerome Powell

The resignation of FOMC member Adriana Kugler also opens the door for a more dovish Fed shift.

A dismal July jobs report has lifted expectations for fall rate cuts. How low could the fed funds rate be by year's end?

The 12 voting members of the FOMC make interest rate decisions based on a simple majority vote.

Adriana Kugler, a Federal Reserve governor, is stepping down from her position on August 8. Kugler, who joined the Fed in September 2023, was expected to serve until January 31, 2026.

Trump’s own former statistics chief denounces move as ‘groundless’ and ‘dangerous’. Key US politics stories from Friday 1 August at a glance

US Federal Reserve governor Adriana Kugler is resigning from her position, the central bank said Friday, opening a vacancy that President Donald Trump can fill as he presses his campaign to drop interest rates.

“The July jobs report goes a long way toward providing the evidence of a weaker labor market that the Fed needs to justify cutting interest rates in the face of above-target inflation,” said Brian Rose at UBS Global Wealth Management.

The U.S. job market created only 73,000 jobs in July, according to the Bureau of Labor Statistics. Additionally, downward revisions to May and June resulted in the elimination of a whopping 258,000 jobs. That means the U.S. saw the weakest tri-monthly employment print since the pandemic, according to Bloomberg. That’s…

The US president has hurled insults at Jerome Powell, renewing calls for the Federal Reserve to slash interest rates.