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 Department of Homeland Security said global hotel chain Hilton has launched a “coordinated campaign” to refuse service to agents by cancelling their room reservations in Minneapolis as the agency readies for escalated immigration enforcement there.
Critics of the US ouster of Venezuelan President Nicolas Maduro this weekend have regularly invoked President Donald Trump’s comments during the 2016 campaign.
The US is making plans to try to intercept a fleeing oil tanker that Russia has claimed ownership of, according to four people familiar with the matter, setting up a possible confrontation between Washington and the Kremlin over the vessel’s fate.
Minnesota Gov. Tim Walz is expected to speak on his political future today as he faces criticism over fraud allegations against day care centers.
Minnesota Gov. Tim Walz’s decision to abandon his bid for a third term has suddenly sparked one of the biggest political questions of the new year: Will Sen. Amy Klobuchar run for governor?
President Donald Trump’s second term entered a new phase over the weekend, with the administration launching a successful operation in Venezuela that captured its leader, Nicolás Maduro.
Minnesota Gov. Tim Walz will hold a news conference after announcing he won’t seek a third term. Follow here for live updates.
Secretary of Defense Pete Hegseth announced Monday that the Pentagon is taking administrative action to punish Sen. Mark Kelly, a retired Navy captain, by cutting his retirement pay for participating in a video where he and other Democratic lawmakers reminded US service members of their duty to refuse illegal orders.
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Minnesota Gov. Tim Walz is reconsidering whether to seek reelection to a third term and is expected to announce his decision at a Monday news conference, two senior Democrats told CNN, as criticism over a welfare-fraud scandal in his state intensifies.
One person is in custody and an investigation is under way following an incident at the Ohio residence of Vice President JD Vance, according to a federal law enforcement source.
A school district police officer arrived at Robb Elementary in Uvalde, Texas, more than a minute before a gunman entered the building and shot and killed 19 children and two teachers in May 2022, a new CNN analysis has found.
Congress returns this week to a slew of bitter political fights and the threat of another government shutdown at the end of the month — all while facing high stakes as President Donald Trump and GOP leaders attempt to unify their fractured party in a midterm year.