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 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 / 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 ...
Business / Financial Markets Oct 31, 2019
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 ...
Business / Economy Oct 3, 2019
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 ...
Business / Economy Oct 2, 2019
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. ...
Business / Financial Markets Sep 19, 2019
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 ...
Business / Economy Sep 16, 2019
Fed trades 'remarkably positive' for 'no precedents' after volatile year and as slump looms
A year ago, U.S. Federal Reserve Chair Jerome Powell held a "remarkably positive outlook" for an economy enjoying a "historically rare" combination of good news including low unemployment, steady inflation and strong growth that were all expected to continue. When the Fed meets this week, ...