Washington

President Donald Trump intends to nominate Herman Cain for a seat on the Federal Reserve Board, according to people familiar with the matter.

While it is possible that the Federal Reserve’s hiking cycle is complete, but the more likely scenario is rates will go “a bit higher,” Federal Reserve Bank of Cleveland President Loretta Mester said Thursday.

President Trump fired a fresh broadside at the Federal Reserve for raising interest rates last year, saying the economy is in good shape “despite the unnecessary and destructive actions” taken by the central bank.

Sens. Sherrod Brown, D-Ohio, and Ron Wyden, D-Ore., pressed Stephen Moore for details about reports that he owes more than $75,000 in taxes and failed to pay more than $300,000 in alimony and child support.

With the Federal Reserve finished raising interest rates, some yield curve inversions would signal a coming recession, according to Brian Rehling of Wells Fargo Investment Institute.

The IRS audit of the Puerto Rico Municipal Finance Agency's $59 million in 2005 Series B Refunding Bonds is the third IRS audit of tax-advantaged bonds involving the commonwealth announced over the last six weeks.

The SEC now has a stronger card to play when pursuing an enforcement case, lawyers said.

The Federal Reserve should return to its pre-crisis corridor operating system, with a smaller balance sheet, former Federal Reserve Bank of Philadelphia President Charles Plosser said.

Cannava argues that emails, witness statements, and other evidence cast doubt on the SEC's claims that he acted recklessly.

More than a decade ago, then-Federal Reserve Chairman Ben S. Bernanke dismissed the curve’s predictive powers after two of the most widely watched yield spreads inverted and then went flat.