Gulf between rich and poor risks US downturn, Fed official warns
John Williams suggests poorer Americans’ mounting problems could be a factor in whether the central bank cuts rates next month
John Williams suggests poorer Americans’ mounting problems could be a factor in whether the central bank cuts rates next month

Pressure from Donald Trump and concerns over economic growth open schism among central bank’s officials

Hawkish tone from Austan Goolsbee contrasts with market expectations for reduction next month

Trend adds to pressure on Donald Trump over inequality as he threatens to undermine reliability of economic data

The Fed was right to cut rates given the downside risks to employment

Currency has weakened more than 10 per cent this year as concerns grow about US economy

Jay Powell set the stage for a reduction in borrowing costs but jobs and inflation reports could get in the way