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Stories 1 - 20 |
Fed Chief: 'We Are Prepared
to Raise Rates Further'
Aug 25, 2023 9:49 AM CDT
Fed Chief: 'We Are Prepared to Raise Rates Further'
Jerome Powell gives a closely watched update
- The continued resilience of the US economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted that the economy has been growing faster than expected and that consumers have...
Fed Chair Says US
May Have Dodged Recession
Jul 27, 2023 6:37 AM CDT
Fed Chair Says US May Have Dodged Recession
Congressional Budget Office is also predicting 'soft landing'
- The Federal Reserve believes its policies may have helped the US economy avoid recession and achieve a "soft landing," a possibility analysts once saw as remote. In remarks after the latest interest rate rise was announced Wednesday, Fed Chair Jerome Powell said the central bank is no longer...
'What Can I
Say?' I'm a
Jun 22, 2023 12:39 PM CDT
Fed Chair: 'What Can I Say?' I'm a Deadhead
At House hearing, Jerome Powell raves about recent Dead & Company show
- A blurry photo taken at a Dead & Company concert in Virginia earlier this month caused quite a stir on social media. Viewed 2.8 million times as of this writing, it shows a gray-haired man in a collared shirt and baseball cap among the crowd of fans watching the...
The Federal Reserve Gives
Us a Skip and a Surprise
Jun 14, 2023 1:13 PM CDT
The Federal Reserve Gives Us a Skip and a Surprise
Leaves interest rates alone for first time in 15 months, but 2 more hikes could come
- After a 10-meeting run of raising interest rates, the Federal Reserve on Wednesday decided to leave rates alone—but in a surprise, indicated two more hikes could come before 2023 is through, reports CNBC . The decision is being viewed as more of a "skip" than a pause and leaves...
Apr 27, 2023 2:35 PM CDT
Russian Pranksters Trick Fed Chief
But it doesn't appear Jerome Powell said anything unusual to callers posing as Volodymyr Zelensky
- The Fed chief's words can move markets, which makes Russian pranksters' latest victim especially notable. A spokeswoman for Federal Reserve Chair Jerome Powell has confirmed that he was tricked into talking with two Russians who have been fooling world leaders and other big names for years. Powell thought he...
Fed Chair Has
More Bad News
Mar 7, 2023 10:45 AM CST
Fed Chair Has More Bad News
Guess what? Higher interest rates likely coming
- Jerome Powell opened his mouth on Tuesday before the Senate Banking Committee, Wall Street listened and wasn't happy, and probably no one who's possession of a variable interest rate will be, either. "The latest economic data have come in stronger than expected, which suggests that the ultimate...
Powell Sees Progress
Getting Inflation in Check
Feb 7, 2023 12:36 PM CST
Powell Sees Progress Getting Inflation in Check
But Fed chief warns it will be a long process
- Wall Street investors waited Tuesday to read the tea leaves in the latest public comments from Fed chief Jerome Powell, and they seem conflicted about the message. After Powell said the process of getting inflation in check was showing progress, the Dow quickly erased morning losses and rose more than...
Mortgage Rates Hit 2008 Levels
Sep 8, 2022 4:50 PM CDT
Mortgage Rates Hit 2008 Levels
Climb is tied to Powell's stay-the-course comment, analyst says
- A year ago, mortgage rates were below 3%. On Thursday, Freddie Mac data showed the average rate for a 30-year fixed mortgage was up to 5.89%, the highest point since 2008, NBC News reports. Rates briefly dropped this summer as the Federal Reserve raised the key interest rate in...
Powell Warns of 'Some Pain'
for Households, Businesses
Aug 26, 2022 9:31 AM CDT
Powell Warns of 'Some Pain' for Households, Businesses
But Fed chief says the central bank must keep raising rates to prevent greater pain
- Fed chief Jerome Powell delivered a closely watched speech on Friday that made clear he expects the central bank to continue raising interest rates, reports CNBC . Wall Street didn't seem thrilled: The Dow fell 200 points as Powell spoke in Jackson Hole, Wyoming, and it was down more than...
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...
Stories 1 - 20 |
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