Scott Horsley
Appearances
NPR News Now
NPR News: 12-18-2024 8PM EST
All the major stock indexes dropped sharply after the Fed signaled that it may keep interest rates higher for longer than investors had expected. On average, members of the central bank's rate-setting committee now expect rates to fall just half a percentage point in 2025, not the full point they were projecting back in September.
NPR News Now
NPR News: 12-18-2024 8PM EST
Inflation has been sticky in recent months, and some of President-elect Donald Trump's policy proposals could push prices higher. Given that, Fed Chairman Jerome Powell says it makes sense to proceed with caution.
NPR News Now
NPR News: 12-18-2024 8PM EST
Powell says the U.S. economy continues to perform well, giving the Fed more latitude to take its time in lowering rates. Scott Horsley, NPR News, Washington.
NPR News Now
NPR News: 12-22-2024 9PM EST
Trump said in a social media post that Myron will work with the rest of his economic team to deliver a quote great economic boom that lifts up all Americans. Trump returned to the White House at a time when the U.S. economy is already growing at a solid clip with low unemployment and cooling inflation.
NPR News Now
NPR News: 12-22-2024 9PM EST
Polls show many Americans are unhappy though about the cumulative price hikes over the last five years. Scott Horsley, NPR News, Washington.
NPR News Now
NPR News: 12-22-2024 9PM EST
Myron is a Harvard-trained economist who previously worked at the Treasury Department during Trump's first term in office. He's also a fellow at the conservative Manhattan Institute. Trump plans to nominate Myron to lead the President's Council of Economic Advisors. If confirmed by the Senate, he'll help the White House to interpret economic conditions. and have a hand in shaping policy.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
Good morning, Steve.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
Well, policymakers are expected to lower their benchmark rate by a quarter percentage point this afternoon. That'd be the third rate cut since September. And it would leave interest rates a full percentage point lower than they were back in the summer.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
No. Inflation has come down a lot in the last couple of years, but it's still higher than the Fed would like. And in fact, some of the progress we've been seeing on prices appears to have stalled in the last few months. Fed Governor Chris Waller gave a speech earlier this month where he talked about just how stubborn inflation has proven to be.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
Waller insisted, though, he and his colleagues are not going to let inflation out of the octagon today. until prices are completely under control.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
Well, it's a balancing act. High interest rates do help curb inflation, but they can also be a drag on the economy. So the Fed is trying to strike a balance here. Markets are betting the Fed is going to lower interest rates today, and then after that, maybe take a break and see how things play out.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
Oftentimes, the Fed doesn't have that luxury when it's faced with a sudden collapse in the economy like the pandemic or the housing crisis. But we're not dealing with a crisis like that right now. The overall economy is still strong. The job market is holding up pretty well. So Fed Chairman Jerome Powell said he and his colleagues can afford to take their time.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
One thing a lot of people will be watching this afternoon is the forecast that Fed policymakers offer about where they think interest rates are going to go next year. Back in September, they were projecting that rates would fall by another full percentage point in 2025. We'll see if they dial that back.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
Carefully. Economists say some of the president-elect's policies, like tariffs and mass deportations, could actually make inflation worse. Powell has said it's too early to make any predictions about that. Keep in mind, Trump was often critical of Powell the last time he was in the White House. So Powell has tried hard not to provoke the incoming president.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
But he's also insisted Trump doesn't have the authority to fire him. And when Trump was asked about that on Meet the Press, he appeared to accept that Powell's going to stick around for a while.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
No, I don't think so. I don't see it. Now, Powell's term as chairman expires, though, in 2026. And at that point, Trump may have the opportunity to install a more malleable leader at the central bank.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
We'll be watching.
Up First from NPR
Murder As An Act Of Terrorism, Fed's Rate Cut Decision, Female Mass Shooters
You're welcome.