NEW YORK (AP) — The Federal Reserve cut its benchmark interest rate Wednesday for the first time in nine months. Since the last cut, progress on inflation has slowed while the labor market has cooled. That means Americans are dealing with both high prices and a challenging job market. The federal funds rate, set by the Federal Reserve, is the rate at which banks borrow and lend to one another. While the rates that consumers pay to borrow money aren’t directly linked to this rate, shifts in Fed policy affe ...

I want to welcome in Torson Slo. He's partner and chief economist at Apollo. He's here with us at Post Nights.Good to see you. Welcome to our program. >> Thanks for having me.>> What does pretend Fed President Sllo do in September. What would your vote be. >> Well, the challenge here is that the dual mandate is of course very torn.On the one hand, inflation is going up as we saw in the PPI data. And when inflation is going up, the Fed should be hiking. On the other hand, the employment report for July was v ...

From @WSJopinion: What can the Federal Reserve do to help itself? The central bank should focus on its dual mandate and not try to solve all the economy’s problems, write Charles I. Plosser and Mickey D. Levy. https://t.co/JVudYRPCRo ...

From @WSJopinion: What can the Federal Reserve do to help itself? The central bank should focus on its dual mandate and not try to solve all the economy’s problems, write Charles I. Plosser and Mickey D. Levy. https://t.co/MgslYQnkbs ...