The Senate looks poised to confirm President Trump’s pick to join the central bank in time for the policy meeting next week, while another governor’s fate remains up in the air.

The Labor Department on Tuesday issued a stunning downward revision of 911,000 fewer jobs added for the 12 months through March 2025.

CME Group’s FedWatch tool shows a quarter point cut is expected at each of the Fed’s three remaining meetings this year. If they all come to fruition, 2025 would end with a benchmark funds rate of 3.50% to 3.

The White House search for the next Federal Reserve chair continues to twist and turn, with BlackRock bond chief Rick Rieder emerging as the latest hot candidate.

U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said.

US stocks were mixed on Friday as Wall Street took stock of the US economy from a lofty, record-setting perch ahead of the Federal Reserve's highly anticipated decision on interest rates next week. Investors have taken in several weeks' worth of economic data to gain clues on the Fed's next move.

U.S. inflation picked up moderately in August, with prices up 2.9% from a year earlier. The Federal Reserve next meets Sept. 16-17.

The Federal Reserve meets next week and is expected to cut its key short-term interest rate for the first time in 2025. Investors are widely anticipating a 0.25 percentage point cut, but there is less agreement on what will follow at the central bank’s October and December meetings.