The US Federal Reserve raised its benchmark interest rate by 0.25 percent on Wednesday. The move was expected and marks another step toward normality on the financial markets.
The US central bank's first female chief is planning to step down from it's governing board. Janet Yellen said in a letter to President Trump that she was "gratified" to leave with the US on firmer financial footing.
The US central bank keeps moving cautiously toward a third interest rate hike — possibly in December — as it has left current rates unchanged amid efforts to balance a strong US economy with stubbornly low inflation.
Under pressure from fresh allegations against his campaign team, US President Donald Trump is preparing to announce Fed governor Jerome Powell as his choice to replace Janet Yellen at the head of the central bank.
US President Trump is turning the announcement of a new Federal Reserve head into a reality TV experience like his show The Apprentice. But is it just a distraction from other problems? Jens Korte reports from New York.
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