Federal Reserve Governor Stephen Miran said the central bank should move more aggressively on interest rates this year, arguing that rate reductions totaling more than 100 basis points are justified as underlying inflation pressures continue to fade. In an interview with Maria Bartiromo on FOX Business’ "Mornings with Maria," Miran said inflation is already running close to the Federal Reserve’s 2% target once temporary measurement distortions are stripped out. He said current policy remains clearly restric ...

Photographer: Victor J. Blue/Bloomberg Federal Reserve Governor Stephen Miran said the US central bank will need to cut interest rates by more than a percentage point in 2026, arguing monetary policy is restraining the economy. “I think it’s very difficult to argue that policy is about neutral. I think policy is clearly restrictive and holding the economy back,” Miran said Tuesday during an appearance on the Fox Business Network. “I think that well over 100 basis points of cuts are going to be justified ...

Key Points Whether the Federal Reserve will continue to lower interest rates this year is the question everyone is asking. President Trump is clearly in favor of more rate cuts, but the rate-setting Federal Open Market Committee (FOMC) still has to make the call. Fed Chair Jerome Powell, with whom Trump has been at odds, will see his term end in May, giving Trump the power to install a new Fed chair. Still, the decision is up to the FOMC, which appears to be growing increasingly divided with each passing Fe ...

Much of the discussion around financial markets continues to shift from one macro concern to another. ...

Ahead of the New Year's holiday, President Donald Trump said he will make a decision on who he wants to lead the Federal Reserve by January.  Current Chair Jerome Powell's term expires in May 2026, and he has made it clear he will fulfill his obligation running the central bank. This week, Trump continued his verbal assault of Powell, who he again called "too late" for failing to cut interest rates at a faster pace. He also called him "a fool" and criticized him for the renovation of the Fed's Washington, D ...

Core Viewpoint - The Federal Reserve is considering further interest rate cuts if inflation continues to decline, although there is division among officials regarding recent economic data [2][9]. Group 1: Interest Rate Decisions - The Federal Reserve cut interest rates for the third consecutive time during its December meeting due to concerns about a weakening labor market, despite inflation remaining above the 2% target [5]. - The minutes indicate that most Federal Open Market Committee (FOMC) members would support further rate cuts if inflation decreases as expected [3][9]. - Some FOMC members suggested maintaining the target range for interest rates unchanged for a period after the recent cut, emphasizing the need to address emerging labor market weaknesses [8]. Group 2: Economic Indicators - The latest Consumer Price Index (CPI) report indicated that inflation was at 2.7% in November, down from a previous 3% annual increase [6]. - The jobs report following the FOMC meeting revealed that unemployment rose to 4.6%, the highest level since 2021, highlighting concerns about labor market conditions [8]. - Many FOMC members noted reduced risks of tariffs driving inflation higher, while expressing concerns about potential deterioration in the labor market if interest rates remain elevated [9].

A little bit of movement in terms of the Treasury trade, in terms of the equity trade, not too much. We're seeing really a quiet market here as we get ready to wrap up just one more day of trading after today in 2025. All right.Let's get right out to Washington, get more on those FOMC minutes. Tyler kendal, she's Bloomberg TV washington reporter. She's live at the Federal Reserve.Tyler, take it away. Hey, Carol, you really hit most of the main headlines here when it comes to what is a divided FOMC, what the ...

Market Overview - The S&P 500 Index is down -0.12%, the Dow Jones Industrials Index is down -0.25%, and the Nasdaq 100 Index is down -0.11% [1] - Stock indexes are slightly lower as the market struggles for direction in thin year-end trading, with higher bond yields negatively impacting stocks [2] Economic Indicators - The October S&P Case-Shiller composite-20 home price index rose +0.3% month-over-month and +1.3% year-over-year, exceeding expectations [3] - The December MNI Chicago PMI increased by +9.2 to 43.5, also stronger than anticipated [3] Seasonal Trends - Historical data indicates that the S&P 500 has risen 75% of the time in the last two weeks of December, with an average increase of 1.3% [4] Upcoming Economic Data - The minutes from the December 9-10 FOMC meeting will be released, and initial weekly unemployment claims are expected to rise by 1,000 to 215,000 [5] - The December S&P manufacturing PMI is anticipated to remain unchanged at 51.8 [5] - The markets are currently pricing in a 16% chance of a -25 basis point rate cut at the next FOMC meeting on January 27-28 [5] International Market Performance - The Euro Stoxx 50 index reached a 1.5-month high, up by +0.76%, while Japan's Nikkei Stock 225 fell to a 1-week low, down -0.37% [6]

The dollar index (DXY00) today is up by +0.09%.  The dollar is slightly higher today on better-than-expected US economic news on home prices and the Dec MNI Chicago PMI.  Also, higher T-note yields today have strengthened the dollar's interest rate differentials.  Questions about the Fed's independence are limiting gains in the dollar after President Trump said Monday evening that he "still might" fire Fed Chair Powell.  Also, strength in the Chinese yuan is undercutting the dollar after the yuan rallied t ...

The major U.S. index futures are currently pointing to a roughly flat open on Tuesday, with stocks likely to show a lack of direction following the weakness seen in the previous session.Traders may be reluctant to make significant moves ahead of the release of the minutes of the Federal Reserve's latest monetary policy meeting this afternoon.The minutes of the Fed's December meeting, when the central bank decided to lower interest rates by another quarter point, may provide further insight about officials' ...