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Stories 1 - 20 |
After Fed Chair's
Remarks, Stocks Soar to
Biggest Gain in 2 Years
May 4, 2022 3:43 PM CDT
After Fed Chair's Remarks, Stocks Soar to Biggest Gain in 2 Years
Jerome Powell downplayed chances of even bigger rate increase
- Stocks soared to their biggest gain in two years Wednesday and bond yields dropped after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger rate increase than the one announced Wednesday. That allayed concerns that the central bank was on its way to a massive increase of...
Do What It
in 22 Years
Mar 21, 2022 1:20 PM CDT
Fed Might Do What It Hasn't Done in 22 Years
Jerome Powell floats possibility of half-point hike in interest rates
- Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected if it decides that this would be necessary to slow rampaging inflation, per the AP . His comments did not please the markets. Immediately afterward, the major indexes fell noticeably, with the...
Fed Confirms Big Move
to Tame Inflation
Mar 16, 2022 1:16 PM CDT
Fed Confirms Big Move to Tame Inflation
Benchmark interest rate is going up for the first time since 2018
- The Federal Reserve, in the first of what is expected to be a series of hikes, is raising its key short-term interest rate by a quarter-point from near zero. The central bank, which is fighting to tame the worst inflation in 40 years, signaled Wednesday that there could be up...
Biden Fed Nominee Withdraws
After Manchin Says No
Mar 15, 2022 6:08 PM CDT
Biden Fed Nominee Withdraws After Manchin Says No
Biden says Sarah Bloom Raskin was 'subject to baseless attacks'
: Sarah Bloom Raskin has withdrawn from consideration for a key post on the Federal Reserve's board of governors, handing Sen. Joe Manchin another win. The Democrat joined all 50 Republicans in the Senate Monday in opposition to confirming Bloom at the Fed's top banking regulator. In a...
Jan 11, 2022 11:46 AM CST
Fed Chief: We'll Get More Aggressive on Inflation
Jerome Powell tells Congress they'll raise interest rates more if need be
- Federal Reserve Chair Jerome Powell acknowledged Tuesday that high inflation has emerged as a serious threat to the Fed's goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem surging prices. "If we...
Fed's Vice Chair, Facing
Questions on Trades, Resigns
Jan 10, 2022 6:35 PM CST
Fed's Vice Chair, Facing Questions on Trades, Resigns
Richard Clarida is the third top official to leave under a cloud
- The vice chair of the Federal Reserve is resigning in the face of questions about his stock trading during the pandemic. Richard Clarida, whose term was in its last month, made the announcement Monday but did not elaborate, the
reports. "I will miss his wise counsel and...
Only 3 Federal
Most in US
Dec 27, 2021 8:18 AM CST
Only 3 Federal Officials Viewed Favorably by Most in US
John Roberts, the Fed's Jerome Powell, and Anthony Fauci
- Gallup put the names of 11 federal officials in front of Americans in a new survey, and only three registered positive ratings from the majority of respondents. The clear No. 1 was Supreme Court Justice John Roberts (60%), followed by Fed chief Jerome Powell (53%) and Dr. Anthony Fauci...
Biden Makes Highly Anticipated
Picks to Lead the Fed
Nov 22, 2021 8:40 AM CST
Biden Makes Highly Anticipated Picks to Lead the Fed
President nominates Powell to continue as chair, wants to elevate Democrat Brainard to No. 2
- President Biden has settled on a decision that's been awaited by economic markets around the world—he wants Jerome Powell to remain as chair of the Federal Reserve. Powell is a Republican, and while Democrats had been chafing for a switch at the central bank, the president opted for...
Warren Calls Fed Chair
a 'Dangerous Man'
Sep 28, 2021 3:36 PM CDT
Warren Calls Fed Chair a 'Dangerous Man'
She tells Jerome Powell she will oppose his renomination
- Sen. Elizabeth Warren addressed what she called the "elephant in the room" at a Senate Banking Committee hearing Tuesday—the question of whether Jerome Powell will be renominated as Federal Reserve chair. The Democrat told Powell that she considers him a "dangerous man" who has weakened the country'...
Its Own Digital
Sep 22, 2021 7:30 PM CDT
Fed Considers Its Own Digital Currency
Powell sees no rush, though China's central bank is forging ahead on development
- The Federal Reserve expects to issue a paper soon addressing whether it should go ahead with a digital currency of its own. The central bank has been looking into the issue, with the Boston Fed and MIT combining on a study that will precede the paper, CNBC reports. The advantages,...
Federal Reserve Chair Signals
a 'Tapering' May Be Coming
Aug 27, 2021 10:29 AM CDT
Federal Reserve Chair Signals a 'Tapering' May Be Coming
Jerome Powell says if hiring stays on track, Fed will start to pull back on its low-rate pandemic policies
- The Federal Reserve will start dialing back its ultra-low-rate policies this year as long as hiring continues to improve, Chair Jerome Powell said Friday, signaling the beginning of the end of the Fed's extraordinary response to the pandemic recession. Investors seemed to like the sentiment, with markets rising, notes...
Analyst Says Investors
Will Have to 'Buckle Up'
Jun 22, 2021 3:45 PM CDT
Analyst Says Investors Will Have to 'Buckle Up'
But markets remained calm as Fed chief Jerome Powell testified
- Stocks finished higher on Wall Street Tuesday, nudging the S&P 500 closer to the record high it reached last week. The benchmark index added 0.5%. The Nasdaq did a bit better, climbing 0.8%, with an assist from gains in several big technology stocks. Markets were relatively calm...
Fed Says Outlook for
2021 Has Brightened
Dec 16, 2020 3:01 PM CST
Fed Says Outlook for 2021 Has Brightened
But interest rate is staying near zero
- The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes "substantial" progress—a step intended to reassure financial markets and keep long-term borrowing rates low indefinitely. The Fed also reiterated after its latest policy meeting that it expects to keep its short-term benchmark...
Fed Plans to Leave Rates
Unchanged Until 2023
Sep 16, 2020 2:35 PM CDT
Fed Plans to Leave Rates Unchanged Until 2023
Central bank says it will accept higher inflation
- The Federal Reserve expects to keep its benchmark interest rate pegged near zero at least through 2023 as it strives to accelerate economic growth and drive down the unemployment rate. The central bank also said Wednesday that it will seek to push inflation above 2% annually. The Fed left its...
Fed Chair Announces Big
Change on Interest Rates
Aug 27, 2020 10:30 AM CDT
Fed Chair Announces Big Change on Interest Rates
Jerome Powell says Fed will keep rates near zero, even after inflation exceeds 2%
- The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded the Fed's 2% target level. The change signifies that the Fed is prepared to tolerate a higher level of inflation than...
Stocks Jump After
Big News From Fed
Jun 10, 2020 1:57 PM CDT
Stocks Jump After Big News From Fed
Interest rates expected to stay near zero until 2022
- The Federal Reserve said Wednesday that it will keep buying bonds to maintain low borrowing rates and support a US economy mired in a deep recession with high unemployment. And it said nearly all its policymakers foresee no rate hikes through 2022. The Fed has cut its benchmark short-term rate...
Fed Indicates It Will Hold
Rates Near Zero for Months
Apr 29, 2020 2:17 PM CDT
Fed Indicates It Will Hold Rates Near Zero for Months
Fed will also keep buying Treasury and mortgage bonds
- The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. As part of its emergency steps, the Fed said it...
Fed Chief: Economy's
Rebound May Be 'Robust'
Apr 9, 2020 10:15 AM CDT
Fed Chief: Economy's Rebound May Be 'Robust'
Agency unveils $2.3T loan program to help small businesses, cities
- The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support the economy, per the AP . The money will target American households and businesses, as well as local governments besieged by the coronavirus outbreak. The Fed said Thursday that it's activating a...
Mar 26, 2020 8:45 AM CDT
Fed Chief Addresses the R-Word
Jerome Powell says we 'may well be in a recession'
- Are we going to enter a recession? We may already be in one, said Federal Reserve Chair Jerome Powell on Thursday, though he tempered his answer. In a
appearance, Powell acknowledged that "we may well be in a recession," but "I would point to the...
Sharply Divided Fed
Again Reduces Rates
Sep 18, 2019 2:31 PM CDT
Sharply Divided Fed Again Reduces Rates
But may not do so again this year
- A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year, the AP reports. The Fed's move reduces its key short-term rate—which influences many consumer and business loans—by an...
Stories 1 - 20 |
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