Page 40 - Sam Sutton News Today

It was just one of several surprisingly frank moments from Powell.

For the Fed, slumping stocks, in and of themselves, are neither surprising nor unwelcome.<b> </b>

Deputy Treasury Secretary Wally Adeyemo sat down with MM for a Q&A.

Democratic support, including from President Joe Biden, for a slimmed-down, climate-focused BBB doesn't guarantee success, with several outstanding disagreements within the caucus.

“I think we can break the package up,” Biden said at a news conference Wednesday.

Biden’s remarks came against a backdrop of further stock market losses.

Senate Republicans may raise concerns that Raskin and Cook would be too dovish and would politicize the central bank.

Waiting too long to tackle inflation could force the Fed to raise rates faster, triggering a recession, Powell said, “and that would be bad for workers.”

The White House sent three highly anticipated Fed nominees to the Senate Thursday night.

Fed staff see annual inflation falling to 2.1 percent by the end of 2022.