President Trump clashed with Federal Reserve Chair Jerome Powell as more lawmakers weigh in on a need for an interest rate cut. CBS News' Kelly O'Grady reports.

In July 1988, Mike Dukakis was leading the presidential race versus George H.W. Bush — but not for long. A little later that summer, the Democratic nominee agreed to do a photo-op in a battle tank with an army helmet perched awkwardly on his head.

Fed Chair Jerome Powell has sketched out new conditions that could trigger rate cuts by summer’s end, but inflation remains a big question

President Donald Trump visited the Federal Reserve's headquarters to inspect a costly renovation project. His visit highlights escalating tension over monetary policy as the Fed readies for a crucial meeting.

Amid all the mounting political pressure on the Federal Reserve to resume cutting interest rates, Chair Jay Powell is already overseeing the loosest financial conditions in the U.S. economy since before the central bank started hiking early in 2022.

At least three Federal Reserve policymakers spoke out this week in favor of holding interest rates steady for the time being, in contrast to two who said they were open to the idea of cutting the fed funds rate in July,

Airline sector shows resilience with strong demand and positive earnings, indicating robust consumer and corporate spending despite earlier geopolitical concerns. Netflix reporting after close, remains a streaming leader, but valuation concerns persist; overall, stocks continue mild melt-up with benign retail and jobless data supporting stability.

The latest data from the International Monetary Fund show the dollar's share of foreign exchange reserves edged lower to 57.7% in the first quarter from 57.8% in the fourth quarter of 2024. The share of euro holdings rose to 20.1% from 19.8% over the same period, the highest since late 2022.

An escalating debate within the Federal Reserve about the case for interest rate cuts is not going to be settled by a new inflation reading that offered ammunition for both hawks and doves.

Brazil Central Bank Sees Rate Cut Debate as Premature, Says Official. By Reuters | June 27, 2025. ... (Reuters) -Brazil's central bank is not currently discussing potential interest rate cuts, ...

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