Slower pace of rate increases could be coming 'soon,' says Fed vice chair
CNN
It could soon be time for the Federal Reserve to ease up on its super-sized rate interest hikes, according to the central bank's number-two policymaker, Vice Chair Lael Brainard.
"I think it will probably be appropriate soon to maintain a slower pace of increases," Brainard said Monday at an event hosted by Bloomberg News in Washington, DC.
The Fed has taken the unprecedented step of issuing a series of massive rate hikes in its battle to tame decades-high inflation. At each of its past four meetings, the central bank approved a rate hike of three-quarters of a percentage point, raising its benchmark lending rate by 4 percentage points in just nine months.
The ambiguity of the president’s warning could pave the way for lawsuits. It also could be damaging, critics say, if it has the effect of stifling freedom of speech, among the nation’s most fundamental and heralded rights.
New Hampshire Democratic Sen. Jeanne Shaheen’s decision to not seek reelection marks the latest bit of tough luck for Senate Democrats, who face an increasingly challenging midterm election map as they fight to climb out of the minority.
President Trump’s move to revoke deportation protections for Venezuelans has sparked a sense of betrayal in Doral, Florida, a Miami suburb that is home to more Venezuelan immigrants than any other city in the US.
A month after losing her job at the Department of Veterans Affairs, Corinne Bazarnyj is still waiting to be approved for unemployment benefits.
An explosion on the Texas Tech University campus in Lubbock set off fires and power outages Wednesday, leading school officials to issue evacuation orders for several buildings and cancel classes for the rest of the week.
Tim Walz is headed back out on the road – this time, for a tour of House districts represented by Republicans, some of whom have stopped holding town halls amid the raucous receptions their colleagues have gotten across the country.
Ecuadorian President Daniel Noboa has announced a “strategic alliance” to fight organized crime with Erik Prince, the founder of the controversial private defense contractor formerly known as Blackwater.
CNN’s 5 Things PM brings you the stories you might have missed during your busy day.
Indian authorities have arrested a Lithuanian man wanted by the US for allegedly running a $96 billion cryptocurrency exchange that allowed terrorist organizations, drug traffickers and cybercriminals to launder money.
A federal judge on Wednesday halted parts of President Donald Trump’s executive order that targeted a Democratic-linked law firm.
The sister of Supreme Court Justice Amy Coney Barrett was the target of a bomb threat at her home earlier this month in Charleston, South Carolina, police said Wednesday.
Democratic Sen. Jeanne Shaheen of New Hampshire announced Wednesday that she will not seek reelection in 2026, a decision that will bring an end to the senator’s historic career in Congress and sets up a competitive race for the Senate seat in the Granite State.
As Trump imposes sweeping 25% tariffs on steel and aluminum, Mark Carney, leader of Canada’s ruling Liberal Party, told workers at a steel mill in Hamilton, Ontario that the country’s leadership was ready to sit down with the US “under a position where there’s respect for Canadian sovereignty.”