Fed chair warns of 'significant uncertainty' around U.S. recovery

Business Jun 17, 2020

Fed chair warns of 'significant uncertainty' around U.S. recovery

Despite some recent positive signs, "significant uncertainty" remains about the recovery of the U.S. economy from the coronavirus pandemic, Federal Reserve Chair Jerome Powell said Tuesday. And unless consumers feel confident COVID-19 has been defeated, "a full recovery is unlikely," Powell warned in his semiannual ...

U.S. Federal Reserve quarantines cash from Asia

Business Mar 7, 2020

U.S. Federal Reserve quarantines cash from Asia

Dollar bills from China are going into quarantine due to the coronavirus epidemic, as the Federal Reserve is putting extra precautions on money coming into the United States. The new procedures "provide for a longer holding period" so that currency coming from China or anywhere ...

Former Fed chief Paul Volcker, inflation slayer, dies at 92

Business Dec 10, 2019

Former Fed chief Paul Volcker, inflation slayer, dies at 92

Paul Volcker, the towering former Federal Reserve chairman who tamed U.S. inflation in the 1980s and decades later inspired tough Wall Street reforms in the wake of the global financial crisis, died Monday at the age of 92, according to his daughter, Janice Zima. Volcker, ...