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Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

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by Chris Spiker
Business
Wells Fargo To Pay States $575M To Resolve Customer Ripoff Claims: NJ, NY, CT Get $34M Wells Fargo To Pay States $575M To Resolve Customer Ripoff Claims: NJ, NY, CT Get $34M
Wells Fargo To Pay States $575M To Resolve Customer Ripoff Claims: NJ, NY, CT Get $34M Wells Fargo Bank has agreed to pay $575 million – including more than $34 million combined to New Jersey, New York and Connecticut – to settle charges that it engaged in a variety of sales, lending, and other improper business practices for more than a decade. The bank also has agreed to pay more than $385 million to 850,000 auto finance customers who were wrongly charged premiums, interest, and fees for forced-place collateral protection insurance, even though they already had the coverage. That includes payments to more than 51,000 customers whose cars were repossessed, according to the m…

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by Jerry DeMarco