Cathy Harris and Gwynne Wilcox, Democratic board members of independent agencies, argue that President Trump lacked the authority to fire them, citing federal law and Supreme Court precedent.
The Federal Reserve cut interest rates by a quarter percentage point. How much further rates fall could depend on how President-elect Trump approaches his second term.
There was both good news — and bad news — in the latest jobs report, providing an unclear picture as the Federal Reserve weighs how much to cut interest rates.
Federal Reserve chairman Jerome Powell signaled that he's increasingly confident inflation will soon be tamed, and that he and his colleagues will soon cut interest rates to avoid hurting the job market.
The Fed kept interest rates unchanged at the highest in more than two decades. Investors are betting it will start to lower rates at its next meeting in September.
The Federal Reserve held interest rates steady while signaling it can cut rates only once this year. The decision came after data earlier showed inflation cooling slightly.
A new report from the Fed shows little change in family finances over the last year, but rising prices remain a big worry. And parents of children under the age of 18 feel worse off than a year ago.
Target joins other retailers trying to draw inflation-weary shoppers to stores. The chain says reductions have already been reflected in about 1,500 products.
The Federal Reserve held interest rates steady Wednesday, as inflation remained stubbornly above the Fed's 2% target. Investors now think it could be September or later before rates start to fall.
The Federal Reserve is expected to hold interest rates steady this week — and possibly for months to come — as policymakers try to sort through mixed signals about the U.S. economy.
Annual inflation proved to be hotter than expected last month, staying stubbornly above 3%. It continues to move in the wrong direction in recent months. Pushing it lower is proving to be hard.
U.S. employers added 303,000 jobs last month, and the unemployment rate dipped to 3.8%. Construction companies added 39,000 jobs, despite high interest rates.
The Federal Reserve held interest rates steady Wednesday, but policymakers signaled they still expect to start cutting rates later this year. The stock market jumped in response.
Bitcoin hit a record high, marking a remarkable comeback from a period known as the "crypto winter." A big catalyst behind the gains has been the approval of new bitcoin investment funds.
