The Federal Reserve has erased nearly half of all the rate increases of the past two years since July -- but now the central bank is expected to halt any further cuts even as President Donald Trump continues to push for more.
The reason: It's still not clear where the global economy may be heading next year, and any additional rate cuts now will only leave policymakers with fewer tools to help cushion the US if things turn sour.
Trump pushing for lower ratesSince last year, Trump has kept up his attacks on his Fed chairman, whom he nominated for the job more than two years ago in November 2017, especially as he makes the economy a centerpiece of his re-election campaign.
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Former Trump Aide Rick Gates Flipped Against Trump—Now He May Avoid Prison TimeI’m a San Francisco-based reporter covering breaking news at Forbes. Previously, I’ve reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com.
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Ex-Fed Chair Volcker dies, tamed inflation with recessionPaul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died. He was 92.
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When Volcker ruled the Fed, 'people thought they'd never buy a home again'Paul Volcker's greatest legacy was breaking inflation with shockingly high interest rates, but he turned the housing market into a nightmare.
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The Fed will stay in hibernation until at least summer: CNBC survey100% of our Fed Survey respondents think the Fed will hold interest rates unchanged this month. Here’s when we might see another rate cut, according to the survey.
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