Treasury Steven Mnuchin

Federal Reserve chairman to ease rate hikes, expands more reduction in debt holdings

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OAN Newsroom
UPDATED 10:56 AM PT — Thurs. Nov. 29, 2018

Federal Reserve Chairman Jerome Powell is softening his stance on interest rate hikes after repeated criticisms from President Trump.

While speaking at the economic club of New York Wednesday, Powell said higher interest rates are necessary to stave off risks to the U.S economy.

“My own assessment is that, while risks are above normal in some areas and below normal in others, overall financial stability

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Pompeo and Mnuchin explain ‘new’ sanctions on Iran previously halted by Obama

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The Trump administration has reimposed all sanctions previously put on hold under the Obama-era Iran Nuclear Deal.

On Monday, Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin announced penalties on Iran’s energy banking and shipping sectors.

“Since the Trump administration came into office we’ve done 19 round of sanctions, targeting 168 Iranian entities,” stated Pompeo. “Today’s (Monday) sanctions will accelerate the rapid decline of international economic activity in

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