Business / Economy Jul 15, 2020
Fed’s Lael Brainard paints dark picture of U.S. economic outlook, urging more support
The coronavirus induced a deep recession in the U.S. with more than 22 million jobs lost.
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 ...
Business Jun 11, 2020
Fed sees zero rates through 2022 and commits to keep buying bonds
All policymakers expect the funds rate to stay near zero through 2021, and perhaps beyond, to address "considerable risks” over the medium term.
Business / Economy May 18, 2020
World monetary policy stance may not be as easy as it appears
Policy could be tighter than it looks because the pace of government borrowing is surpasing the record stimulus of central banks.
Business / Economy Mar 28, 2020
Fed brings the global financial system back from the abyss
by Molly Smith, Alexandra Harris and Matthew Boesler
Sitting calmly in front of a bookshelf filled with thick volumes of the "Federal Reserve Bulletin," Jerome Powell this week set out to offer a simple explanation for the complicated steps the U.S. central bank is taking to relieve dire stresses in the global ...
Business Mar 16, 2020
Fed slashes rates and central banks pull out stops to cushion coronavirus blow
The U.S. Federal Reserve slashed rates back to near zero, restarted bond buying and joined with other central banks to ensure liquidity in dollar lending to help put a floor under a rapidly disintegrating global economy during the coronavirus pandemic. And in a dramatic move ...
Business Mar 7, 2020
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 ...
Business Mar 5, 2020
Follow the Fed? Why central banks won't be rushed on COVID-19 response
by Balazs Koranyi and Leika Kihara
Will the world's big central banks leave U.S. Federal Reserve Chair Jerome Powell hanging? They're certainly going to try. No major central bank has yet matched the Fed's emergency rate cut in response to the coronavirus outbreak, and there is mounting evidence that its counterparts ...
Business / Financial Markets Mar 4, 2020
The emergency rate cut from the U.S. Federal Reserve seemed to stoke rather than soothe fears over the coronavirus’ widening global economic fallout.
Business / Economy Feb 13, 2020
'No reason' rising U.S. wages and job gains can't continue, says Fed chief Powell
Federal Reserve Chair Jerome Powell on Wednesday reiterated his confidence in the sustainability of the record-long U.S. economic expansion, now in its 11th year. "There's no reason why the current situation of low unemployment, rising wages, high job creation — there's no reason why it ...
Business Dec 10, 2019
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, ...
Business / Economy Nov 14, 2019
Wall St. higher as Fed chief Jerome Powell says U.S. economy is in 'good shape'
Wall Street's main indexes rose on Wednesday as Federal Reserve Chairman Jerome Powell said the domestic economy was in good shape and the central bank saw a "sustained expansion" ahead. This helped ease nerves on Wall Street, which opened lower after President Donald Trump on ...