Trump urges Fed to lower interest rates
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Fed, Trump and Jerome Powell
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Kevin Warsh, a top contender to replace Jerome Powell as chair of the Federal Reserve, is finally ready to cut interest rates. Most Read from BloombergAdvocates Fear US Agents Are Using ‘Wellness Checks’ on Children as a Prelude to ArrestsThe Dutch Intersection Is Coming to Save Your LifeLA Homelessness Drops for Second YearAs a governor at the US central bank from 2006 to 2011,
Some investors had clung to a bit of hope that the Federal Reserve would cut interest rates at its next meeting on July 30. Tuesday's report on inflation brought the chances of that down even further.
The Federal Reserve will likely be able to start cutting short-term borrowing costs by September, traders continued to bet on Tuesday, after a government report showed a widely expected increase in consumer prices last month.
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Bank of Cleveland President Beth Hammack said that she does not see an immediate reason to cut interest rates and that the U.S. economy is "really healthy."
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Federal Reserve Bank of Boston President Susan Collins said she continues to believe the US central bank can be patient in considering interest rate cuts, suggesting healthy business and household balance sheets may limit the impact of tariffs on the economy.
By Michael S. Derby (Reuters) -Federal Reserve Bank of Cleveland President Beth Hammack said on Monday she sees no imminent need to lower interest rates right now given that inflation is still too high,
Trump has been highly critical of Jerome Powell this year, pressuring him to cut rates. The Fed Chair has said he's awaiting further clarity on inflation.
CNBC's "Closing Bell" team discusses what to expect from upcoming bank earnings with Stephen Biggar, director of financial services research at Argus Research.