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, ...
An emerging priority for Fed chief Jerome Powell: The plight of the poor
Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate policies. "We want to remind ourselves," Powell said, "that prosperity isn't experienced ...
Trump summons Jerome Powell to discuss rates amid White House attacks on Fed
President Donald Trump summoned Federal Reserve Chairman Jerome Powell to the White House on Monday to discuss the economy and interest rates — issues on which Trump has repeatedly attacked the Fed. The Fed said in a statement that Powell's message to Trump was similar ...
Fed chief Jerome Powell urges Congress to tackle growing budget deficit as it nears $1 trillion
Federal Reserve Chairman Jerome Powell on Thursday urged Congress to tackle the growing budget deficit but also underscored the current health of the nation's economy. Powell's testimony before the House Budget Committee came a day after he told Congress' Joint Economic Committee that the Fed ...
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 ...
Fed cuts rates again to weather China-U.S. trade war but signals more tentative mood
The Federal Reserve on Wednesday cut interest rates for the third time this year to ensure the U.S. economy weathers its trade war without slipping into a recession, but signaled it will leave borrowing costs where they are unless things take a material turn ...
BOJ starts policy meeting as weak inflation fuels easing expectations
The Bank of Japan began a two-day policy meeting Wednesday, with market participants expecting the central bank to cut its inflation forecasts, a move that would raise pressure for it to take additional steps to stimulate the economy. The BOJ will study the possibility of ...
Trump again attacks Fed, calling central bank 'derelict in its duties'
President Donald Trump once again attacked the U.S. Federal Reserve on Thursday, calling for more interest rate cuts to stimulate the American economy just days before the key policy meeting. "The Federal Reserve is derelict in its duties if it doesn't lower the Rate and ...
Federal Reserve Chairman Jerome Powell, who's noncommittal about further interest rate cuts, is facing new pressure to make a third-straight reduction in response to weakening data, volatile markets and a continued bashing from U.S. President Donald Trump. Markets placed about a 75 percent chance of ...
Trump blasts Fed after manufacturing data stoke fears of sharp slide due to trade war
U.S. President Donald Trump once again lashed out at the Federal Reserve on Tuesday, this time in the wake of weak data on the manufacturing sector, saying the central bank has kept interest rates "too high" and that a strong dollar is hurting U.S. ...
Fed cuts interest rates but signals more stringent conditions for further reductions
The U.S. Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion, but signaled a higher bar for making further reductions in borrowing costs — eliciting a fast and sharp rebuke from President Donald Trump. Describing the U.S. economic outlook ...
Bank of Japan expected to hold its fire this week after Fed and ECB decisions
The Bank of Japan will leave monetary policy unchanged this week as easing trade tensions and calmer financial markets relieve some of the pressure to act, a Bloomberg survey suggests. About three-quarters of 48 economists said the BOJ will leave policy unchanged at the end ...
