"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."

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 White House has been aggressively pushing Dr. Miran’s nomination to the Federal Reserve Board, setting the stage for his quick confirmation when the Senate returns in September,” said a White House official Tuesday. “With the President’s strong backing, there’s clear momentum to get this done.”

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.

The Federal Reserve has ended its “novel activities” supervision program, folding crypto and fintech oversight back into normal bank supervision.

There have been many calls for reform. None of them have actually done wholesale reform, though many of them have applied band-aids," Lisa Harrington said.

Both a larger-than-expected rate cut and foundational changes at the Fed would be major pro-growth innovations in U.S. economic policy, but strong resistance is likely this week during the Fed’s annual celebration of central banking in Jackson Hole, Wyo.

In an interview with Bloomberg News, Purdue Dean Jim Bullard said he is happy to participate in the search for a new chair of the U.S. Federal Reserve.