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Federal Reserve

US Added 428,000 Jobs in April Despite Surging Inflation

WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing... Read More

WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. Friday’s jobs report from the Labor... Read More

US, World Markets Retreat After Powell's Hawkish Rate Stance

NEW YORK (AP) — Wall Street was pointed toward losses before markets opened on Friday, following global shares lower after... Read More

NEW YORK (AP) — Wall Street was pointed toward losses before markets opened on Friday, following global shares lower after Federal Reserve Chair Jerome Powell indicated aggressive increases in interest rates were needed to fight inflation. The futures for the Dow industrials... Read More

Biden Picks Michael Barr for Fed's Bank Regulation Post

WASHINGTON (AP) — President Joe Biden said Friday he plans to nominate Michael Barr, the dean of the University of... Read More

WASHINGTON (AP) — President Joe Biden said Friday he plans to nominate Michael Barr, the dean of the University of Michigan's public policy school, to be the Federal Reserve's vice chairman of supervision. The selection of Barr comes after Biden’s... Read More

US Added 431,000 Jobs in March in Sign of Economic Health

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience... Read More

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic, Russia's war against Ukraine and the highest inflation in 40 years. The government’s... Read More

US Growth in Q4 Revised Lower to 6.9%, Slower Growth to Come

WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December,... Read More

WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates. For all of 2021, the nation’s gross domestic product —... Read More

Fed Begins Inflation Fight With Key Rate Hike, More to Come

WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s,... Read More

WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year. The Fed's quarter-point hike... Read More

2022-03-15 22:06:31
by Dan McCue
Federal Reserve Pick Raskin Withdraws Nomination

WASHINGTON — Sarah Bloom Raskin, President Joe Biden’s pick for a position on the Federal Reserve’s Board of Governors, withdrew... Read More

WASHINGTON — Sarah Bloom Raskin, President Joe Biden’s pick for a position on the Federal Reserve’s Board of Governors, withdrew her nomination Tuesday, one day after Sen. Joe Manchin, D-W.Va., joined all Senate Republicans in opposing her confirmation. In a... Read More

Stocks Slip, Yields Soar on Hottest Inflation in 40 Years

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that... Read More

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that the Federal Reserve will have to get more aggressive about removing the tremendous support it’s given the economy. The hottest... Read More

2022-01-27 14:44:00
by Dan McCue
Fed Leaves Interest Rate Unchanged, But Signals Increase ‘Soon’

WASHINGTON — The Federal Reserve left interest rates unchanged on Wednesday, keeping them near zero, but signaled a raise in... Read More

WASHINGTON — The Federal Reserve left interest rates unchanged on Wednesday, keeping them near zero, but signaled a raise in rates could come soon if inflation continues to run above its preferred target and the job market remains strong. The... Read More

As Fed Meets, Investor Angst Over Rate Hikes Spooks Markets

WASHINGTON (AP) — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve's meeting... Read More

WASHINGTON (AP) — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve's meeting Wednesday and whether the Fed will clarify just how fast it plans to tighten credit and potentially slow the economy.... Read More

Biden Chooses Three for Fed Board, Including First Black Woman

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom... Read More

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first... Read More

2021-12-15 22:37:47
by Dan McCue
Tighter Credit, More Expensive Borrowing Could Be In The Offing With Fed Shift

WASHINGTON — In a dramatic change of policy, the Federal Reserve said Wednesday that it will accelerate its withdrawal from... Read More

WASHINGTON — In a dramatic change of policy, the Federal Reserve said Wednesday that it will accelerate its withdrawal from propping up the economy and likely will raise interest rates at least three times in 2022. As recently as September,... Read More

Biden to Keep Powell as Fed Chair, Brainard Gets Vice Chair

WASHINGTON (AP) — President Joe Biden announced Monday that he's nominating Jerome Powell for a second four-year term as Federal... Read More

WASHINGTON (AP) — President Joe Biden announced Monday that he's nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing Powell's stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies... Read More

2021-11-08 19:32:28
by Victoria Turner
US Economy Moves from Recovery to Expansion, Focusing on Full Employment

WASHINGTON — The U.S. economy has transitioned ”from recovery to expansion” as of the second fiscal quarter of this year,... Read More

WASHINGTON — The U.S. economy has transitioned ”from recovery to expansion” as of the second fiscal quarter of this year, said Richard Calida, vice-chair of the board of governors of the Federal Reserve, Monday.  This rapid recovery from the pandemic-induced... Read More

2021-10-22 16:09:56
by Reece Nations
Federal Reserve to Restrict Officials’ Trading

WASHINGTON -- The Federal Reserve Board on Thursday announced it would impose new restrictions on active trading of stocks and... Read More

WASHINGTON -- The Federal Reserve Board on Thursday announced it would impose new restrictions on active trading of stocks and prohibitions on the purchasing of individual securities by its policymakers and staff. The restrictions forbid purchasing individual stocks, holding investments... Read More

2021-09-29 21:50:39
by Alexa Hornbeck
Treasury and Federal Reserve Discuss Benefits of Child Tax Credit

WASHINGTON -- The Committee on Banking, Housing, and Urban Affairs met this week to discuss the CARES Act and supporting... Read More

WASHINGTON -- The Committee on Banking, Housing, and Urban Affairs met this week to discuss the CARES Act and supporting an equitable pandemic recovery through vaccination efforts, supporting small businesses, and longer term needs like broadband infrastructure investments.  The members... Read More

Fed Sees Earlier Time Frame for Rate Hikes with Inflation Up

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may act sooner than previously planned to start dialing back... Read More

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may act sooner than previously planned to start dialing back the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising... Read More

Fed to Sell Off Assets From An Emergency Loan Program

WASHINGTON (AP) — The Federal Reserve said Wednesday that it will start selling off the holdings of one of its... Read More

WASHINGTON (AP) — The Federal Reserve said Wednesday that it will start selling off the holdings of one of its emergency lending programs created last year to stabilize financial markets at the height of the pandemic crisis. The Fed will... Read More

2021-02-03 21:22:45
by Victoria Turner
Federal Reserve Bank President Links Wage Inequity to Lack of Educational Investment

The high cost of higher education, lack of adequate college preparation for all and the “digital divide” between rural and... Read More

The high cost of higher education, lack of adequate college preparation for all and the “digital divide” between rural and urban populations are all areas in which greater investment is needed, according to the president of the Federal Reserve Bank... Read More

2021-02-02 16:00:02
by Victoria Turner
Federal Reserve Bank Presidents Call for 'Rethinking' of Job Flexibility

The pandemic has exacerbated deep-rooted issues in the structure of jobs. The need to “rethink” the future-of-work to incorporate flexibility... Read More

The pandemic has exacerbated deep-rooted issues in the structure of jobs. The need to “rethink” the future-of-work to incorporate flexibility and employee needs came to the limelight during a fireside chat between the presidents of two Federal Reserve Banks on... Read More

Janet Yellen Wins Senate Approval as Treasury Secretary

WASHINGTON (AP) — The Senate on Monday approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th... Read More

WASHINGTON (AP) — The Senate on Monday approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary, making her the first woman to hold the job in the department's 232-year history. Yellen, a former chair... Read More

Fed Signals Rates Will Stay Near Zero for at Least Three Years

The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to... Read More

The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the U.S. economy recover from the coronavirus pandemic. The Federal Open Market Committee “expects to maintain an accommodative stance... Read More

Fed’s Kashkari Urges Congress to Act, Suggests Fresh Lockdown

The surging U.S. savings rate means the country can afford to support Americans laid off due to the coronavirus pandemic,... Read More

The surging U.S. savings rate means the country can afford to support Americans laid off due to the coronavirus pandemic, while a “hard” lockdown could deliver a faster economic recovery, a senior Federal Reserve official said on Sunday. Federal Reserve... Read More

2020-05-01 14:27:34
by Dan McCue
Federal Reserve Expands Paycheck Protection Program to Add More Lenders

WASHINGTON - The Federal Reserve said Thursday it is expanding a program that helps the government provide stimulus loans to... Read More

WASHINGTON - The Federal Reserve said Thursday it is expanding a program that helps the government provide stimulus loans to small businesses and is designed to keep workers on payrolls during the coronavirus pandemic. In a brief statement on its... Read More

2020-05-01 14:24:57
by Dan McCue
Federal Reserve Expands Scope of Main Street Lending Program

WASHINGTON - The Federal Reserve said Thursday it is expanding the scope and eligibility for the Main Street Lending Program,... Read More

WASHINGTON - The Federal Reserve said Thursday it is expanding the scope and eligibility for the Main Street Lending Program, a vehicle created to help credit flow to small and medium-sized businesses that were in sound financial shape before the... Read More

Fed Takes Emergency Steps to Slash Rates and Ease Bank Rules

WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus... Read More

WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage... Read More

2020-02-28 21:12:55
by Dan McCue
Powell Says Federal Reserve Will Take Steps to Protect Economy During Virus Crisis

Fed Chairman Jerome Powell vowed Friday that the central bank will use its entire toolbox to support the economy in... Read More

Fed Chairman Jerome Powell vowed Friday that the central bank will use its entire toolbox to support the economy in the face of worldwide fears over the coronavirus outbreak. "The fundamentals of the U.S. economy remain strong," Powell said. "However,... Read More

2020-02-12 14:18:45
by Dan McCue
Fed Chair Tells House Panel Coronavirus Risk to US Economy Still Unknown

WASHINGTON - Federal Reserve Chairman Jerome Powell told a House panel on Tuesday that while the U.S. economy continues to... Read More

WASHINGTON - Federal Reserve Chairman Jerome Powell told a House panel on Tuesday that while the U.S. economy continues to show steady growth, the broadening coronavirus outbreak “could lead to disruptions in China that spill over to the rest of... Read More

2019-12-09 22:23:59
by Dan McCue
Ex-Fed Chair Paul Volcker, Tamer of Double-Digit Inflation, Dies

WASHINGTON - Paul Volcker, the Federal Reserve chairman who in the early 1980s pushed interest rates to historic highs to... Read More

WASHINGTON - Paul Volcker, the Federal Reserve chairman who in the early 1980s pushed interest rates to historic highs to rein in runaway double-digit inflation and set the economy on a course to renewed growth, died on Monday. He was... Read More

2019-08-23 17:16:20
by Dan McCue
China Hits US With New Tariffs on $75 Billion Worth of Products

WASHINGTON — China on Friday announced tariff hikes on $75 billion of U.S. products in retaliation for President Donald Trump's... Read More

WASHINGTON — China on Friday announced tariff hikes on $75 billion of U.S. products in retaliation for President Donald Trump's latest planned increase, deepening the trade conflict between the two nations at a time when the president insists "China wants... Read More

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