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The Latest Breaking News from the US Federal Reserve

OPINION - The one metric where the UK economy beats the US

Money versus job satisfaction. It is the perennial professional quandary, but there may in fact be one exception: central banking. Jerome Powell, chair of the US Federal Reserve, earns $190,000 per year for the privilege of overseeing the greatest economy the world has ever seen. I'm not saying the job…

Evening Standard

Bank Of England Freezes Rate After Jumbo US Cut

The Bank of England on Thursday kept its key interest rate at 5.0 percent, deciding against consecutive cuts one day after a bumper reduction from the US Federal Reserve.

International Business Times

US Fed Makes Aggressive Rate Cut, Weeks Before Election

The US Federal Reserve cut its key lending rate by half a percentage-point Wednesday in its first reduction for more than four years, sharply lowering borrowing costs shortly before November's presidential election.

International Business Times

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US Federal Reserve cuts interest rates for first time in four years

The US Federal Reserve lowered its key lending rate by a deeper-than-expected 0.5 percent, in its first rate cut in more than four years. The move indicates that while monetary policymakers are confident about taming inflation, their focus has shifted to supporting the slowing job market. Plus, France 24's Yuka…

France 24

US Fed Set To Make First Rate Cut Since 2020

The US Federal Reserve is all but certain to cut interest rates on Wednesday for the first time in more than four years, a significant move likely to ripple through global financial markets.

International Business Times

Fed begins two-day meeting set to end with rate cut

The US Federal Reserve began a two-day interest rate discussion on Tuesday that is all-but-certain to end with its first cut since March 2020, as inflation continues to ease.

International Business Times

Boeing shares fall as factory workers begin strike; UK interest rates to fall to 3% next year, predicts Goldman – as it happened

“We are ready to get back to the table to reach a new agreement,” Boeing pledges, as walkout over pay deal begins

The Guardian - UK

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Central banks should be independent of government. But our research shows they are under political pressure

In 2023, central banks, which manage the monetary policy of a country, faced unprecedented financial losses – the US Federal Reserve alone reported a record US$114.3 billion (£86 billion) operating loss.

The Conversation

Company insolvencies in England and Wales higher in past year than during financial crisis; gold hits record highs – as it happened

Company failures dip in July, but over the last 12 months are higher than in 2008-09

The Guardian - UK

Federal Reserve ‘poised to begin cutting rates as early as September’

Bank officials signal readiness to start interest rate-cutting cycle to ease pressure on households and businesses

The Guardian - UK

Fed Under Pressure To Cut Rates As Market Turmoil Continues

The ongoing global stock sell-off has fueled calls for the US Federal Reserve to lower interest rates swiftly and decisively, with some analysts now calling for it to make an emergency cut before its September rate decision.

International Business Times

Global oil prices jump after Hamas leader's assassination in Iran

Global oil benchmarks Brent crude and West Texas Intermediate surged this Wednesday on the news that Hamas's political leader Ismail Haniyeh had been killed by a suspected Israeli strike in Iran. Fears over a regional escalation of the Israel-Hamas war are fuelling concerns over production and distribution of oil in…

France 24

US Fed Expected To Pause Again And Hint At September Rate Cut

The US Federal Reserve is highly unlikely to waver from its position of holding interest rates at a two-decade high on Wednesday, but could drop hints about a September start to rate cuts.

International Business Times

US Fed Could Open The Door To A September Rate Cut This Week

The US Federal Reserve may signal this week that interest rate cuts are on the way -- although it is widely expected to remain on pause until its next rate decision in September.

International Business Times

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TechRadar

Evolve Bank admits cyberattack saw millions of customers have data stolen

LockBit stole sensitive information on more than seven million customers, but Evolve isn't paying up.

International Business Times

Fed's Powell Says US Making 'Modest' Progress On Inflation

The US Federal Reserve is making "modest" progress in its inflation fight, the head of the US central bank told lawmakers Tuesday, on the first of two days of testimony in Congress.

International Business Times

US Fed Has Made 'Quite A Bit Of Progress' On Inflation: Powell

The US Federal Reserve has made "quite a bit of progress" in its fight against rising prices and could hit its inflation target as soon as next year, Fed chair Jerome Powell said Tuesday.

TechRadar

LockBit hackers lied — they didn't hit the US Federal Reserve after all

The data LockBit apparently stolen from the Fed actually belonged to an actual bank.

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Al Jazeera

Japan signals it may prop up yen after currency falls to 38-year low

Japanese Finance Minister Shunichi Suzuki says authorities watching currency’s slide with ‘sense of urgency’.

TechRadar

LockBit hackers claim to have cracked the US Federal Reserve

Some are calling it a bluff, saying LockBit doesn't have the strength to pull off such a hesit.

France 24

US Federal Reserve keeps rates steady despite softer inflation data

The US Federal Reserve has decided to keep its lending rate unchanged at the current 5.25-5.50 percent range and projected just one rate cut this year, despite soft inflation data. But first, the European Commission has informed China that it will impose new tariffs of up to 38 percent on…

International Business Times

US Consumer Inflation Falls But Fed Opts To Hold Interest Rates

US consumer inflation continued to cool last month, according to US government data published Wednesday, giving the US Federal Reserve some positive news shortly before it announced its decision to hold interest rates at a 23-year high.

International Business Times

US Fed Likely To Remain On Pause And Pare Back Rate Cut Expectations

The US Federal Reserve is likely to keep interest rates unchanged this week, but could pare back the number of cuts it has penciled in for this year, as policymakers digest a mixed bag of economic data.