Colby Smith
Federal Reserve and US Economy Correspondent at The New York Times
@nytimes correspondent writing about the Federal Reserve and the US economy. Previously @FT, @TheEconomist, @BloombergTV. [email protected]
Articles
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1 week ago |
nytimes.com | Colby Smith
The Federal Reserve held interest rates steady on Wednesday as expected, but new projections released alongside the decision showed officials are extremely divided about how significantly they will be able to lower borrowing costs this year as they brace for inflation to rise sharply as growth tumbles. The central bank paused interest rate reductions in January following a series of cuts in late 2024 that lowered borrowing costs by a percentage point.
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1 week ago |
miamiherald.com | Colby Smith |NYT Business
EDITORS NOTE: EDS: SUBS throughout to update and expand; NEW headline; RECODES for Page 1.); (ART ADV: With photo.); (With: TRUMP-FEDWASHINGTON -- The Federal Reserve held interest rates steady Wednesday as expected, but new projections released alongside the decision showed officials are extremely divided about how significantly they will be able to reduce borrowing costs this year as they brace for inflation to rise sharply as growth tumbles.
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1 week ago |
nytimes.com | Colby Smith |Tara Siegel Bernard |Ron Lieber |Deborah Solomon
PinnedUpdated June 18, 2025, 12:04 p.m. ETThe Federal Reserve is expected to hold interest rates steady at the conclusion of its latest meeting on Wednesday, extending a pause that has been in place since January. Officials have assumed a wait-and-see approach until they have more clarity on how President Trump’s trade war, immigration crackdown and plans to slash taxes, among other policies, will effect the economy.
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1 week ago |
nytimes.com | Colby Smith
Through all the twists and turns of President Trump’s tariffs, a widespread immigration crackdown and the scuffles surrounding the Republican tax and spending bill, the Federal Reserve has stayed steady in its stance that it can go slow in taking action on interest rates. That message holds as officials gather on Tuesday for a two-day meeting, at which they are set to extend a pause in rate cuts that has been in place since January.
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1 week ago |
nytimes.com | Alan Rappeport |Colby Smith
Business lobbyists are working to kill a measure in the Republican tax policy legislation that would punish companies based in countries that try to collect new taxes from American firms. The push comes as Senate Republicans are preparing to unveil their domestic policy bill on Monday, which will ultimately need to be passed and merged with the legislation that the House passed last month.
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