Thomas Hoenig Says President Would Expect Rate Cut Once Kevin Warsh Is Confirmed
Former Kansas City Federal Reserve Bank president Thomas Hoenig said the president has made clear that a confirmed Kevin Warsh would be expected to deliver an interest-rate cut.
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Terms & Concepts
Federal Reserve: The central bank of the United States, responsible for setting monetary policy and influencing interest rates.
Rate cut: A reduction in benchmark interest rates, typically used to lower borrowing costs and support economic activity.