Scott Horsley
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The central banks expected to hold interest rates steady this week, but investors will be listening for hints about possible future rate cuts.
The Fed's trying to strike a balance between lower rates to boost the sluggish job market and higher rates to battle stubborn inflation.
Orders for long-lasting manufactured goods got a boost in November thanks to a big jump in orders for civilian aircraft.
A delayed report from the Commerce Department shows durable goods orders rose more than 5 percent during the month.
Orders for non-transportation goods rose by half a percent.
The massive winter storm that blanketed the country this weekend forced the cancellation of more than 29 percent of all flights on Sunday.
It was the biggest disruption to air travel since the pandemic.
Scott Horsley, Empire News, Washington.
The Federal Reserve has cut interest rates at its last three meetings in an effort to prop up the sagging job market.
But with inflation still elevated, the central bank has signaled it will be cautious about additional rate cuts.
President Trump, who wants much lower rates, has gone to great lengths to bend the Fed in that direction.
The Justice Department has even launched an investigation of the central bank.
Fed Chairman Jerome Powell has generally tried to avoid getting dragged into a fight with the president.
But earlier this month, Powell said public service sometimes requires standing firm in the face of threats.
This week's post-meeting news conference will give Powell another chance to make the case for why the Fed should be insulated from political interference.
Scott Horsley, NPR News, Washington.
The Federal Reserve has cut interest rates in its last three meetings in an effort to prop up the sagging job market.
But with inflation still elevated, the central bank has signaled it will be cautious about additional rate cuts.
President Trump, who wants much lower rates, has gone to great lengths to bend the Fed in that direction.
The Justice Department has even launched an investigation of the central bank.