The first Black woman to sit on the U.S. central bank’s board has been ‘making an impact — not making headlines.’

"Don't forget, our Federal Reserve is not at all a part of our Constitution. It's a creature of the U.S. Congress, created by the Federal Reserve Act 1913."

Trump has used the renovation project as both a literal and symbolic example of what he has often described as government waste. Speaking to reporters last week, Trump called the construction effort “a disgrace,” and accused Fed officials of overspending at a time when inflation remains high and interest rates are biting into household budgets.

On Dec. 23, 1913, President Woodrow Wilson signed the Owen-Glass Act, creating the Federal Reserve System, an independent agency of the U.S. Government. Before Federal Reserve began its operation ...

The minutes do not name participants however the majority of the 12-member FOMC left the Federal Funds Rate unchanged in a range of 4.25% to 4.5% last month, citing elevated uncertainty despite seeing economic activity moderating during the first half of the year.

Larry Lindsey, The Lindsey Group president and CEO, joins 'The Exchange' to discuss Lindsey's potential nomination to chair the Federal Reserve, the CEO's thoughts on recent economic data and much more.

This article will be updated throughout the day, so check back often for more daily updates. President Trump is pressuring a second member of the Federal Reserve Board of Governors to resign, and it may be making investors nervous.

The minutes of the rate-setting Federal Open Market Committee, published on Wednesday, showed that “some [members] noted that it would not be feasible or appropriate to wait for complete clarity on the tariffs’ effects on inflation before adjusting the stance of monetary policy”.

After somewhat positive inflation data in July, the chances of the Federal Reserve cutting interest rates in September are at roughly 83%, according to CME Group 's FedWatch tool calculations on Aug. 18. One month earlier, roughly 59% of traders betting on changes in the federal funds rate thought an interest rate cut would occur in September.