Donald Trump has accused the Federal Reserve of keeping rates low to help President Obama and Hillary Clinton. On Wednesday, Janet Yellen said that's not true, 'We do not take politics into account in our decisions.'
The Federal Reserve also downgraded its forecast for economic growth in 2016 for the third time this year. It now projects growth this year to be 1.8%. In June it forecast growth of 2%.
After years of failed efforts to pull Japan out of deflation, the central bank said it's introducing a new long-term interest rate target of around zero.
The hourly wage gap between blacks and whites is the worst it's been in nearly four decades, according to a new report from the Economic Policy Institute.
Donald Trump's revised plan will cost anywhere between $2.6 trillion to $5.9 trillion, depending on the assumptions one makes, according to an analysis by the Tax Foundation.
Donald Trump now promises to pay for his revised tax plan in part by implementing the Penny Plan, which would cut the smallest part of the federal budget by 1% every year.
