How's this for an endorsement: At the annual shareholder meeting, Warren Buffett urged people to buy Trillion Dollar Triage, my book about the economic-policy response to the Covid shock. "It's a marvelous account of what took place." Order your copy: https://t.co/oUIDNrDtKE

Trump said he thought the next Fed chair should consult with him on rates. “Typically, that’s not done anymore. It used to be done routinely. It should be done,” Trump said. “It doesn’t mean—I don’t think he should do exactly what we say. But certainly we’re—I’m a smart voice

Trump tells @meridithmcgraw he is leaning towards Warsh or Hassett for Fed chair. Trump said Warsh was at the top of his list. “Yes, I think he is. I think you have Kevin and Kevin. They’re both—I think the two Kevins are great." w/ @schwartzbWSJ https://t.co/77Pgc2bCyh

https://t.co/lXZwZtLwXQ

NEW: The Fed's board of governors voted unanimously on Wednesday to reappoint 11 reserve bank presidents to new five year terms beginning next March 1. (Atlanta Fed President Raphael Bostic had previously announced he would retire at the end of his term in February)

Jay Powell pushed through a rate cut facing the broadest reservations for arguably any decision during his nearly eight-year tenure, and in doing so, that weaker support implicitly delivered a pointed message to President Trump and his own successor: Waltzing to lower rates isn't

Every decision to cut rates becomes more contested as rates move closer to neutral. With each step lower, “you’re just going to lose the support of a few more participants, and you’re going to need data to motivate those participants to want to join with the majority to get a

Key takeaways from Powell's presser: -Powell more or less declared the recalibration phase complete—they're now "well positioned to wait." -He blamed committee divide on the unusual tension in the dual mandate and validated both sides of the debate. -He made a surprisingly

Futures Traders: Now you can get 30% off for life, never pay an activation fee, and get 100% initial test refunds with your first withdrawal! Use code NOFEE100 to claim this limited time offer.

Three officials penciled in not only no cut today, but also no cuts next year. Their projection of a 3.9% end-2026 rate could imply they have a hike next year. Powell clarifies: "I don't think that a rate hike is anybody's base case at this point. I am not hearing that."

Powell explains why the Fed cut rather than waiting until January: The economy has added around 40K jobs per month since April, but due to overcounting, the actual number could be closer to a *loss* of 20K jobs per month. "I think you can say that the labor market has

FOMC cuts by 25 bps as expected Three dissents: Goolsbee and Schmid opposed the cut. Miran wanted a 50 bps cut. The SEP shows six officials of 19 didn’t favor a cut The median dot is unchanged for 2026 The Fed will start “reserve management purchases” this week, beginning at

The ECI is seen inside the Fed as the highest-quality measure of compensation growth Wages and salaries for private sector workers excluding incentive paid occupations shows that pay growth has decelerated ever so slightly this year but continues to run (on a 1-year and

Private-sector wage growth has held steady at around 3.5% after declining following the reopening boom in 2021 From the Q3 employment-cost index: The decline in total compensation growth largely reflects lagged effects from state/local govt workers who got bigger increases a

The Fed's quarterly economic projections in December (and December only) are unique: All 19 people who participate, and not just the 12 voters, have an opportunity to anonymously and softly "dissent" I explain here:

At his rally in Pennsylvania tonight, Trump asked Scott Bessent to look into whether the commissions of any of Biden's Fed appointees were signed by the autopen and whether that could disqualify them from holding office. "Now maybe I’m wrong, but we’re going to check."

In focus as the Fed gathers to consider another cut this week: -whether Powell can stitch together enough consensus to minimize dissents to the same two that opposed the 25 bps cut last time -how many policymakers issue a "soft" dissent via their year-end policy rate in the

Kevin Hassett at the WSJ CEO Council is asked how low rates should go: “What we have to do is recognize that like in the 90s we are in a potentially extremely transformative time.” “…You gotta watch and make sure the inflation doesn’t take off.” Q: How much lower? “You have

Politico: Is it a litmus test that the new chair lower interest rates immediately? Trump: Yes. https://t.co/5fd487AZ13

Justice Brett Kavanaugh expressed a desire to preserve the Fed's autonomy when hearing arguments in a case that could expand the president's power to fire regulatory agency heads He pointedly asked Solicitor General John Sauer about concerns that a broad victory for Trump in the