Fed Chair Jerome Powell is almost certain to announce Wednesday that the central bank has kept its key rate unchanged for the second straight meeting at about 3.6%.
After two years, still no arrests made in Jacksonville Beach St. Patrick’s Day shootings that left 1 killed, 3 injured Read full article: After two years, still no arrests made in Jacksonville Beach St.
Patrick’s Day shootings that left 1 killed, 3 injuredCAUGHT ON CAMERA: Backward driver arrested after bizarre joy ride, Flagler County deputies say Read full article: CAUGHT ON CAMERA: Backward driver arrested after bizarre joy ride, Flagler County deputies sayFILE -Federal Reserve Chair Jerome Powell speaks during a news conference, Wednesday, Jan. 28, 2026, at the Federal Reserve Board Building in Washington. that ends Wednesday: Will central bank policymakers still reduce short-term interest rates this year, now that the Iran war has sent oil prices higher andFed Chair Jerome Powell is almost certain to announce Wednesday that the central bank has kept its key rate unchanged for theat about 3.6%. But the Fed will also release a set of quarterly projections, and they could alter their forecast of one rate cut this year to zero. While such a change might seem minor, it would be a major course correction after 18 months of on-again, off-again rate cuts.Wherever the Fed comes down, it is a particularly difficult time for policymakers to issue economic projections. The Iran war that the Trump administration launched Feb. 28 has already sent gas prices soaring and will push up inflation for at least the next month or two. The Fed will have to raise the inflation forecast it issues Wednesday from where it stood in December, when Fed officials projected inflation would fall to 2.6% by the end of this year. Many economists expect the Fed will forecast that inflation will remain as high as 3% even by late 2026. An increase of that magnitude could be hard to square with more interest-rate cuts. At the same time, the jump in gas prices — if it is high enough and lasts long enough — could slow the economy, as more consumer spending is eaten up at the pump, leaving less money to be spent on other goods and services. As a result, unemployment could move higher later this year.Those two outcomes — higher inflation and higher unemployment — typically lead the Fed in opposite directions. The central bank keeps its key rate unchanged — or even increases it — to fight inflation, while it cuts rates to boost spending and hiring. A combination of rising prices and higher unemployment is generally the worst-case scenario for central bankers. At the same time, this week's meeting will be among the last with Powell as chair. His term ends May 15 and President Donald Trump has nominated a former top Fed official,, to replace him. Yet Warsh’s nomination has been delayed in the Senate because key Republican senators have objected to a Justice Department investigation of Powell over his testimony about a building renovation.that the Justice Department had issued to the Fed, dealing a blow to the investigation. But U.S. Attorney Jeannine Pirro has said she will appeal the ruling. This week's meeting will be Powell's second-to-last, unless Warsh isn't confirmed by May 15, at which point Powell could remain chair of the Fed's rate-setting committee until a replacement is named.data, putting the Fed in a tight spot. Prices rose more quickly in January than in recent months, according to the Fed's preferred measure, with inflation excluding food and energy reaching 3.1% compared with a year earlier. That is little changed from where it was two years ago, a sign that prices are still rising at a stubbornly elevated pace. Yet hiring has also stumbled. Businesses and other employers shed 92,000 jobs in February, the government reported earlier this month, an unexpectedly weak showing that followed an encouraging gain of 130,000 in January. The unemployment rate ticked higher to a still-low 4.4% from 4.3%. Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.After three years, still no arrests made in Jacksonville Beach St. Patrick’s Day shootingsDonate, Declutter and Win During Goodwill’s ‘Clean Out Your Closet Week’Crashes increase on St. Patrick's Day so have a plan & stay alertNorthwesterly winds bring unseasonable cold to our areaAtlantic Beach urges riders to follow e-bike rules amid spring breakWeather Authority Alert Day: Front brings risk of severe storms, gusty winds, tornadoes and hailTSA staffing shortages, sprawling line of thunderstorms affecting Spring Break flightsJU women's basketball team will face LSU on Friday in NCAA tourney openerPhase II water shortage affects Duval County and surrounding counties, simple tips to save waterGov. DeSantis highlights some of his wins, priorities moving forward during newser in JacksonvilleJacksonville’s sports surge this month expected to bring nearly $55M economic impact, boost tourism
Donald Trump Jerome Powell Business Kevin Warsh Jeannine Pirro
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Iran war is making it harder for the Federal Reserve to cut interest ratesSome economists think the Fed, facing inflationary pressures from rising energy prices, may not cut interest rates at all this year.
Read more »
Federal Reserve tapped Robert Hur to help fend off DOJ subpoenasFed Board of Governors enlisted Robert Hur to help defend against DOJ subpoenas tied to Jerome Powell's investigation.
Read more »
Trump criticizes judges after ruling against administration in Federal Reserve caseAva-joye Burnett is an award-winning journalist who joined Scripps News in April of 2023. Prior to Scripps News, Ava-joye spent seven years as a general assignment reporter at CBS Baltimore (WJZ).
Read more »
March Fed decision: FOMC likely to hold rates with US-Iran WarBusiness Insider tells the global tech, finance, stock market, media, economy, lifestyle, real estate, AI and innovative stories you want to know.
Read more »
Embajada de Irán en México dice que Irán negocia con FIFA trasladar partidos del MundialLa disputa pública entre Irán, la FIFA y el presidente de Estados Unidos, Donald Trump, en torno a jugar en el Mundial en junio se trasladó a México, donde sus diplomáticos sugirieron que la selección iraní podría disputar allí sus partidos.
Read more »
Federal Reserve could signal no interest rate cuts this year in wake of Iran warFed Chair Jerome Powell is almost certain to announce Wednesday that the central bank has kept its key rate unchanged for the second straight meeting at about 3.6%. But the Fed will also release a set of quarterly projections, and they could alter their forecast of one rate cut this year to zero.
Read more »