By Michael S. Derby
(Reuters) -Federal Reserve Chairman Jerome Powell said Wednesday it's too soon to say whether the central bank will cut its interest rate target in September, as financial markets expect.
"We have made no decisions about September, we don't...do that in advance," Powell said at the press conference following the latest Federal Open Market Committee meeting. He said going forward, "we'll be taking that information" about... (continue reading...)
By Kanishka Singh
WASHINGTON (Reuters) -The U.S. Justice Department issued a memo on Wednesday that asked recipients of federal funds to ban diversity, equity and inclusion programs, which President Donald Trump has aimed to dismantle since taking office in January.
Trump has passed executive orders aimed at restricting DEI but Wednesday's memo laid out specific examples of actions that it said federal fund recipients should restrict - such... (continue reading...)
(Reuters) - The Federal Reserve held interest rates steady on Wednesday in a split decision that gave little indication of when borrowing costs might be lowered and drew dissents from two of the U.S. central bank's governors, both appointees of President Donald Trump who agree with him that monetary policy is too tight.
The Federal Open Market Committee voted 9-2 to keep its benchmark overnight interest rate steady in the 4.25%-4.50% range for the... (continue reading...)
By Andrius Sytas
TARTU, Estonia (Reuters) -Estonia showed off some of the many empty cells in its Tartus prison on Wednesday as officials outlined how they would implement a proposed agreement for Sweden to send up to 600 inmates to the facility from late next year.
The inter-governmental deal, which has yet to be approved by either country's parliament, is one of many plans worldwide to tackle prison overcrowding - a critical challenge in a... (continue reading...)
NEW YORK (Reuters) -U.S. Treasury yields pared their increase on Wednesday after the Federal Reserve decided to hold interest rates steady at the end of a two-day policy meeting, but saw two dissenting votes by governors, the most in more than three decades.
In standing pat for a fifth straight policy meeting, the Fed cited low unemployment and solid labor market conditions. But it noted that economic growth "moderated in the first half of the year,"... (continue reading...)
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