Trump selects Kevin Warsh to lead Fed Reserve
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Federal Reserve leadership change could determine affordability for millions as borrowing costs squeeze household budgets ahead of midterm elections.
The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6%.
Jerome Powell will announce the central bank's next interest rate decision on Jan. 28 amid political and legal turmoil involving the Fed.
Trump has urged the Fed to significantly lower interest rates.
Utah banker Marriner Eccles is widely credited with establishing the modern-day version of the U.S. central bank. A BYU professor explains why that is still important.