Jerome Powell, the head of the US Federal Reserve, dismissed speculation that former President Donald Trump could remove him from his position when he returns to office in January 2025. Speaking at a press conference after the Fed lowered its key interest rate to 4.5%-4.75%, Powell said he would not step down if asked, adding that the law protects his role from presidential interference.
US hints at September interest rate cut The US Federal Reserve may lower borrowing costs for the first time in over four years, as inflation…
This means the Federal Reserve’s main rate stayed at its highest level in over 20 years, between 5.25% and 5.5%, where it’s been since last July.
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