Trump Loses Bid to Keep Lisa Cook off Federal Reserve
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Scripps News on MSN
Federal Reserve poised to lower interest rates amid slowing job growth
The Federal Reserve’s policy committee began a two-day meeting Tuesday, with a rate cut likely as inflation stays above target and U.S. job growth slows.
Typically, the Fed would cut its key interest rate when unemployment rises, but it would raise rates — or at least keep them unchanged — in the face of rising inflation.
While inflation remains above the Fed's 2% target, economists expect a rate cut this September to address the weakening labor market.
Sunday’s filing is the latest step in an unprecedented effort by the White House to shape the historically independent Fed.
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