President Trump wants the Fed to slash borrowing costs, but the central bank is unlikely to take such aggressive steps even once it begins to lower interest rates.
Category: United States Politics and Government
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On Eve of Tariff Deadline, Trump’s Trade War Faces Key Court Test
A federal appeals panel will hear arguments from states and businesses that seek to invalidate the president’s tariffs.
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Art Spiegelman, John Waters and Other Banned Artists on How Censorship Changed Them
Nine artists on how American censorship changed their work and their lives.
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Trump Announces Health Care Records System for Consumers
The administration is working with tech companies to make sharing information with various providers easier. Experts raised concerns about privacy and security.
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Ford Is Latest Carmaker to Blame Tariffs for Profit Slump
The company estimated that duties on imported cars and car parts would cost it $2 billion this year.
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Fed Keeps Rates Steady Despite Internal Divisions and Political Pressure
The central bank kept interest rates steady for a fifth straight meeting, despite badgering from President Trump. It has “made no decisions” on cutting rates at its next meeting, the Fed chair said.
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Cuts to Data Collection May Erode Reliability of Economic Statistics
The Bureau of Labor Statistics is reducing or ending the collection of data that is used to calculate the Consumer Price Index.
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White House Urges ‘Pro-Innovation Mindset’ to Crypto In New Report
In a 168-page report, the White House called on banking regulators, tax officials and U.S. lawmakers to implement policies that would advance the crypto industry’s agenda.
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Tensions Between Trump and Powell at Tipping Point Ahead of Fed Meeting
President Trump wants lower interest rates, but Jerome H. Powell, the chair of the Federal Reserve, is not yet ready to deliver them.
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U.S. Economy Grew in Second Quarter as Tariffs Scrambled Data
Gross domestic product rebounded in the spring after contracting at the start of the year, but consumer spending remained weak.