Lower-income households have lost ground since 2023
If confirmed by the Senate, he'll replace Jerome Powell as chair in May
Two officials dissented from the decision, preferring a cut
Central bank under pressure to show objectivity amid political, legal attacks
Figures point to a mostly strong economy with inflation still elevated
Core prices increased 2.6% from a year earlier, above Fed's target
Move ramps up Trump administration's targeting of independent agency
Economy continues to grow, with Atlanta Fed projecting 2.7% increase in Q4
The “low-hire, low-fire” job market remains in effect, labour department report suggests
The Fed may hold off on cutting rates, at least in January: Powell