The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.

Federal Reserve Governor Chris Waller said on Thursday said he favors cutting the Fed's policy rate in July. He also discussed the Fed's balance sheet and why it should continue to pay interest on bank reserves.

The Federal Reserve is no longer speaking with one voice, breaking the hearts of economic nerds everywhere. The minutes from the June 17–18 meeting show real cracks opening up inside the room, with policymakers clashing over how soon,

Fed Chair Jerome Powell has sketched out new conditions that could trigger rate cuts by summer’s end, but inflation remains a big question.

The average rate on 30-year fixed home loans from Freddie Mac decreased again to 6.77% for the week ending June 26.

The Fed report suggests that a higher prime rate is causing, at least in part, growth in card interest rates. The prime rate remained stable at 7.5% throughout the first quarter. But it is still much higher than it was during the beginning of the 2020s, when it wasn’t uncommon to see the benchmark rate fall between 3.25% and 5.5%.

Jerome Powell has agreed to step down as chair of the Federal Reserve following relentless attacks from President Trump and his inner circle, according to a statement released by Billy Pulte, the current head of the U.