No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, October 29, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Markets

Federal Reserve will reduce staff by 10% in coming years, Powell memo says

by TheAdviserMagazine
6 months ago
in Markets
Reading Time: 2 mins read
A A
Federal Reserve will reduce staff by 10% in coming years, Powell memo says
Share on FacebookShare on TwitterShare on LInkedIn


U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025.

Kevin Lamarque | Reuters

The Federal Reserve will look to reduce its headcount by 10% over the next couple of years, including offering deferred resignation to some older employees, central bank Chair Jerome Powell said in a memo.

“Experience here and elsewhere shows that it is healthy for any organization to periodically take a fresh look at its staffing and resources. The Fed has done that from time to time as our work, priorities, or external environment have changed,” Powell said in the memo obtained by CNBC.

The central bank chief added that he has instructed leaders throughout the Fed “to find incremental ways to consolidate functions where appropriate, modernize some business practices, and ensure that we are right-sized and able to meet our statutory mission.” One method for shrinking the staff will be to offer a voluntary deferred resignation program to employees of the Federal Reserve Board who would be fully eligible to retire at the end of 2027.

The central bank said in its 2023 annual report that it had just under 24,000 employees. A 10% reduction would bring that number below 22,000.

The memo comes as the Trump administration has pushed for cost cuts across civil service agencies, spearheaded by Elon Musk and the so-called Department of Government Efficiency. Musk has previously called the Fed “absurdly overstaffed.” Powell’s memo did not mention Musk or DOGE as a factor in the decision to shrink headcount.

The planned staff cuts were first reported by Bloomberg News.

— CNBC’s Matt Cuddy contributed reporting.

Don’t miss these insights from CNBC PRO



Source link

Tags: comingfederalmemoPowellReduceReservestaffYears
ShareTweetShare
Previous Post

CFTC commissioner to leave agency on May 31

Next Post

9 mental health insurance questions consumers should ask

Related Posts

edit post
Jean Chatzky Warns That Emotional Loyalty Can Derail Retirement Planning as 85% of Americans Admit They Would Risk Financial Security to Help Family

Jean Chatzky Warns That Emotional Loyalty Can Derail Retirement Planning as 85% of Americans Admit They Would Risk Financial Security to Help Family

by TheAdviserMagazine
October 29, 2025
0

Tint Media / Shutterstock.comAdvertising Disclosure: When you buy something by clicking links within this article, we may earn a small...

edit post
Fiserv stock craters 44% after company slashes guidance

Fiserv stock craters 44% after company slashes guidance

by TheAdviserMagazine
October 29, 2025
0

Cheng Xin | Getty Images News | Getty ImagesFiserv's stock plummeted 44% Wednesday and headed for its worst day ever...

edit post
This San Francisco-based satellite company’s stock has doubled in the past three months

This San Francisco-based satellite company’s stock has doubled in the past three months

by TheAdviserMagazine
October 28, 2025
0

Planet Labs stock has been on a tear over the last few months as investors bet on the company's satellite...

edit post
Cytokinetics has been on a tear as the biotech pioneers more drugs to fight heart ailments

Cytokinetics has been on a tear as the biotech pioneers more drugs to fight heart ailments

by TheAdviserMagazine
October 28, 2025
0

Investors are noticing ripe opportunity in Cytokinetics, a late-stage biopharma company targeting medicines for specialty heart diseases, that has seen...

edit post
Visa reports higher Q4 revenue and profit; results beat estimates

Visa reports higher Q4 revenue and profit; results beat estimates

by TheAdviserMagazine
October 28, 2025
0

Visa, Inc. (NYSE: V) on Tuesday reported an increase in revenues for the fourth quarter of fiscal 2025, which translated...

edit post
Key highlights from Electronic Arts’ (EA) Q2 2026 earnings results

Key highlights from Electronic Arts’ (EA) Q2 2026 earnings results

by TheAdviserMagazine
October 28, 2025
0

Electronic Arts Inc. (NASDAQ: EA) reported its second quarter 2026 earnings results today. Net revenue decreased 9% year-over-year to $1.84...

Next Post
edit post
9 mental health insurance questions consumers should ask

9 mental health insurance questions consumers should ask

edit post
Important takeaways from Applied Materials’ (AMAT) Q2 2025 earnings report

Important takeaways from Applied Materials’ (AMAT) Q2 2025 earnings report

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Another Violent Outburst – Democrats Inciting Civil Unrest

Another Violent Outburst – Democrats Inciting Civil Unrest

October 24, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Ice Barbie Kristi Noem on the Bleeding Edge of Trump Era Conflict

Ice Barbie Kristi Noem on the Bleeding Edge of Trump Era Conflict

0
edit post
2026 ACA open enrollment period preview

2026 ACA open enrollment period preview

0
edit post
LawNext: Clio CEO Jack Newton on Its New ‘Intelligent Legal Work Platform’ and A New Era Of AI-Driven Legal Work

LawNext: Clio CEO Jack Newton on Its New ‘Intelligent Legal Work Platform’ and A New Era Of AI-Driven Legal Work

0
edit post
Japan’s Biggest Card Firm Joins The Network

Japan’s Biggest Card Firm Joins The Network

0
edit post
Why Nearly Half of Gen Z Now Buys Secondhand Monthly to Beat Inflation

Why Nearly Half of Gen Z Now Buys Secondhand Monthly to Beat Inflation

0
edit post
Yunus fears attempts to thwart planned Bangladesh polls

Yunus fears attempts to thwart planned Bangladesh polls

0
edit post
Japan’s Biggest Card Firm Joins The Network

Japan’s Biggest Card Firm Joins The Network

October 29, 2025
edit post
Why Nearly Half of Gen Z Now Buys Secondhand Monthly to Beat Inflation

Why Nearly Half of Gen Z Now Buys Secondhand Monthly to Beat Inflation

October 29, 2025
edit post
Mastercard poised to acquire crypto startup Zerohash for nearly  billion, sources say

Mastercard poised to acquire crypto startup Zerohash for nearly $2 billion, sources say

October 29, 2025
edit post
Yunus fears attempts to thwart planned Bangladesh polls

Yunus fears attempts to thwart planned Bangladesh polls

October 29, 2025
edit post
Ice Barbie Kristi Noem on the Bleeding Edge of Trump Era Conflict

Ice Barbie Kristi Noem on the Bleeding Edge of Trump Era Conflict

October 29, 2025
edit post
Coca-Cola Stock Is Already A Great Income Stock. Here’s How To Make It Better.

Coca-Cola Stock Is Already A Great Income Stock. Here’s How To Make It Better.

October 29, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Japan’s Biggest Card Firm Joins The Network
  • Why Nearly Half of Gen Z Now Buys Secondhand Monthly to Beat Inflation
  • Mastercard poised to acquire crypto startup Zerohash for nearly $2 billion, sources say
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.