Today the Fed announced an interest rate cut of half a point, finally bringing rates down from a 23-year high as inflation continues to cool to a three year low.
Reportedly, the U.S. Federal Reserve plans to “massively scale back a proposal to raise capital requirements for banks after politicians and the banking industry pushed back on the initial plan,” marking a “major reversal following the string of regional bank failures last year that was touched off by Silicon Valley Bank.” Government watchdog Accou
Following the U.S. Labor Department’s Consumer Price Index report showing corporate profiteering remains largely unfazed by the Fed’s repeated interest rate hikes, government watchdog Accountable.US renewed calls on the Fed to cease further hikes for the foreseeable future.
Following the U.S. Labor Department’s unemployment report showing slowing job growth in July, government watchdog Accountable.US renewed calls on the Fed to abandon any plans for more interest rate hikes for the foreseeable future.
Today, government watchdog Accountable.US urged the Fed not to use the latest encouraging economic news from the U.S. Labor Department, that 209,000 jobs were added to the U.S. economy in June, as an excuse to resume raising interest rates this month – especially as the manufacturing sector is showing serious signs of distress under the previous 10
During his Congressional appearances this week, Federal Reserve Chairman Jerome Powell faced sharp questioning over what took so long to pause interest rate hikes that caused alarming cracks in the economy.
Today, Federal Reserve Chairman Jerome Powell will deliver his semi-annual report to Congress a week after the Federal Reserve announced a long-overdue pause in interest rate hikes. While the policy reprieve followed an unprecedented 10 consecutive interest rate increases that left behind significant economic damage, Chairman Powell tellingly descr
Today, the Federal Reserve announced an interest rate pause after an unprecedented 10 increases in a row since March 2022. Government watchdog Accountable.US called the stoppage long overdue as the Fed ignored red flags for months that the policy has been putting enormous stress on the economy and threatening millions of American jobs – clear signs
In May, the economy added 339,000 jobs, but new potential rate hikes from the Federal Reserve could damage that growth by protecting corporate greed that’s been driving up inflation.
As the U.S. Labor Department reports nearly 340,000 jobs were created in May while the unemployment rate ticked up to 3.7%, government watchdog Accountable.US cautioned the Fed not to use the report as an excuse to continue threatening millions of jobs by hiking interest rates, especially as the report shows the economy is slowing. Last month, Fed
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