Treasury

Trump May Name New Fed Chair by Christmas, Treasury Secretary Says

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Trump May Name New Fed Chair by Christmas, Treasury Secretary Says

There is “a very good chance” that President Donald Trump will announce his pick to lead the Federal Reserve before Christmas, according to the Cabinet official leading the search process. Current Fed Chair Jerome Powell‘s term will expire in May, and Trump’s early announcement of Powell’s successor could influence interest rates, including mortgage rates, by … Read more

Treasury Secretary Warns of a ‘Housing Recession’ and Points Finger at the Fed

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Jerome Powell, chairman of the US Federal Reserve, with his face resting on his hands

The U.S. housing market, along with other segments of the economy, may already be in a recession because the Federal Reserve has not been aggressive enough cutting interest rates, Treasury Secretary Scott Bessent said Sunday.  “I think that we are in good shape, but I think that there are sectors of the economy that are … Read more