Fed Chair Jerome Powell signals path to rate cuts at Jackson Hole
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
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Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The battle came as the president sparred with the head of the federal reserve in a rare presidential visit to their headquarters.
The House will soon take up the package of spending cuts narrowly approved by the Senate overnight, that slashes previously approved funding for foreign aid as well as PBS and NPR. Lawmakers are also reacting to President Trump's latest comments on whether he'll try to oust Federal Reserve Chair Jerome Powell, whom he has repeatedly criticized for not lowering interest rates.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.
The Federal Reserve kept its key interest rate unchanged at its May meeting on Wednesday, brushing off President Trump’s demands to lower borrowing costs.
President Trump says he's eager to see Federal Reserve chair Jerome Powell go. It comes amid the president's ongoing frustration over interest rates, and after Powell said tariff uncertainty could pose a risk to the U.S. economy.
Stocks suffered their worst crisis since COVID in March 2020, as the Dow Jones plunged more than 2,200 points on Friday, over concerns about the fallout from President Trump’s tariffs. The NASDAQ and S&P lost nearly 6 percent. Posting on social media as he went golfing, the president called this “a great time to get rich.” But in a rare move, President Trump is calling on the Federal Reserve to cut interest rates. Fed chairman Jerome Powell warned on Friday that tariffs could do long-term harm to the economy.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Boyle, 65, was found guilty on two counts of first-degree murder in the death of 30-year-old Sierra Jamison.
The 2025 Senior Gala was held at the downtown Marriott Marquis on Saturday.
It was confirmed that one person died in the fire. Their identity was not released.
Patrick Kane had a goal and an assist, and Emmitt Finnie also scored for the Red Wings, who have won four of five. Chicago dropped its fourth game in five.
The girl was a passenger in a car that was involved in a multivehicle collision on I-55 near the Clear Lake exit, the coroner's office said.
With Chicago facing a projected deficit of more than $1 billion in 2026, why does the city's salary database show at least a dozen aldermanic aides with salaries close to $200,000? The database is wrong, but staffers are getting hefty bonuses.
A ruling striking down emergency levies could force the federal government to return most of the tariff revenue it has collected this year, according to Penn Wharton.
A federal appeals court has blocked the immediate release of hundreds of immigrants detained during a Chicago-area immigration crackdown.
Democrats on the House Oversight Committee on Friday released 19 photos from a trove of images obtained from the estate of Jeffrey Epstein.
Indiana state police said "numerous" state lawmakers had faced bomb threats and been the subject of swatting hoaxes amid the push for redistricting.
With less than two weeks until Christmas, if you're sending gifts to people far from home, the deadlines to get them there on time are fast approaching.
A condo owner in Country Club Hills says he's forced to sell his home after his condo association failed to reimburse him for repairs to his leaking roof. Edward Hadnott's condo has sat empty since a major roof leak in 2022.
The U.S. stopped minting pennies this week, and some groups have issued a warning about the headaches that can create for some businesses and consumers.
Why is one school in the west Chicago suburb of Lisle paying a water bill three times higher than another? The answer has to do with a private utility company.
The Food and Drug Administration is warning about additional cookware brands that could be leaching lead into your food.
An investigation into the case of a Michigan man who contracted rabies after an organ transplant provided more details on the infection's origin.
The newest measles vaccination numbers released by Chicago Public Schools shows immunizations are finally moving in the right direction.
Two pregnant Black women recently faced alarming neglect at hospitals in Indiana and Texas, highlighting racial disparities in maternal care.
Illinois Gov. JB Pritzker on Tuesday signed a bill aimed at protecting vaccine access in Illinois.
Roseland Community Hospital on Monday celebrated the opening of a new sickle cell treatment clinic.
A Culver's is coming to Chicago's South Loop, a real estate broker has confirmed.
A new vision for passenger rail is on track in southeastern Wisconsin. The MARK Passenger Rail Commission held its inaugural meeting on December 5, 2025, at Racine City Hall.
U.S. Steel says it'll resume making steel slabs at its Granite City Works plant in Illinois amid strengthening demand.
Traffic at O'Hare International Airport is growing faster than expected, and this has Chicago city leaders wanting to make big changes to future construction plans at the airport.
Small Business Saturday was disrupted by the winter storm for many business owners in Chicago, but in the Rogers Park neighborhood, a group of business owners came together to draw customers.
Quintanilla is survived by his son, his daughter Suzette and his wife Marcella, who he wed in 1963.
Paramount Skydance's $30 per share offer comes just days after Netflix agreed to buy parts of Warner Bros. in a deal valued at nearly $83 billion.
The nominations for the 2026 Golden Globes have been announced. Here are the nominees.
Landon Wallace, better known as Power 92 radio and Chicago Bulls mixer DJ Commando, died last week.
Thirty-five years after throngs headed to a theater near them to see "Home Alone," you can have a lovely cheese pizza, just for you, like Macaulay Culkin's Kevin McCallister character did.
On Thursday, a jury found Lawrence Boyle, 65, guilty on two counts of first-degree murder in the death of 30-year-old Sierra Jamison back on Sept. 18, 2023, in Grand Crossing.
Crews worked for nearly two hours before pulling him from the wreckage.
The annual event features guest speakers, including Mayor Brandon Johnson, food, and live music, all to support the programming provided by the agency.
In 2020, Joliet police Sgt. Javier Esqueda blew the whistle on the death of Eric Lurry, a 37-year-old Black man who died while in Joliet police custody.
No group has claimed responsibility for the killings, but President Donald Trump said on Saturday he believes ISIS was behind the attack.
A former police sergeant in Joliet who was at one point charged after leaking squad car video of a man who died in Joliet police custody has filed a federal civil rights lawsuit over retaliation he faced.
By the midday hours on Sunday, wind chills will range between 0 degrees and 10 degrees below.
A male suspect dressed in black escaped the engineering building after the shooting, police said. The suspect is still at large.
Boyle, 65, was found guilty on two counts of first-degree murder in the death of 30-year-old Sierra Jamison.
The 2025 Senior Gala was held at the downtown Marriott Marquis on Saturday.
With Chicago facing a projected deficit of more than $1 billion in 2026, why does the city's salary database show at least a dozen aldermanic aides with salaries close to $200,000? The database is wrong, but staffers are getting hefty bonuses.
The new charges for a man facing federal charges after allegedly lighting a woman on fire on the CTA Blue Line has exposed a range of gaps in the criminal justice system, experts say.
The Cook County Assessor said the county's commercial businesses saw millions of dollars cut from their property tax bills this year, and the burden was shifted onto homeowners.
A Chicago woman battling ALS said she's been struggling just to get a disabled parking space in front of her Bridgeport home.
Days after new Cook County Chief Judge Charles Beach ordered an urgent review of the county's electronic monitoring program, Sheriff Tom Dart said this crisis isn't new, and that he's been warning lawmakers of problems for years.
Patrick Kane had a goal and an assist, and Emmitt Finnie also scored for the Red Wings, who have won four of five. Chicago dropped its fourth game in five.
Logan Mailloux and Matt Luff each scored his first goal of the season, and the St. Louis Blues beat the Chicago Blackhawks 3-2.
Josh Giddey had 26 points, 11 assists and seven rebounds, Zach Collins added 16 points and eight rebounds off the bench and the Chicago Bulls erased a 13-point second half deficit to beat the Charlotte Hornets 129-126 and snap a seven-game losing streak.
Moore, 39, is charged with third-degree felony home invasion, as well as misdemeanor counts of stalking and of breaking and entering.
When the Chicago Bears take on the Cleveland Browns on Sunday, players and fans are in for one of the coldest games at Soldier Field in years. The sub-zero wind chills in the forecast have some fans trying to unload their tickets.
The shooting occurred in a first-floor classroom of a school engineering building during final exams, authorities said. The gunman remains at large.
Two men have been charged in connection with an attack on a 73-year-old woman inside her home on Wednesday in Chicago's southwest suburbs.
A man accused of punching multiple women in the face in the Loop this week was seen wearing an ankle monitor while he did it. Prosecutors said he shouldn't have been out on the street at all.
Moore, 39, is charged with third-degree felony home invasion, as well as misdemeanor counts of stalking and of breaking and entering.
A federal appeals court has blocked the immediate release of hundreds of immigrants detained during a Chicago-area immigration crackdown.
