Federal Reserve

Fed Unleashes Unprecedented Measures to Shore Up Reeling Economy
Economy
Fed Unleashes Unprecedented Measures to Shore Up Reeling Economy

The Federal Reserve, racing again to contain mounting economic and financial-market fallout from the coronavirus, unveiled a sweeping series of measures that pushed the 106-year old central bank deeper into uncharted territory. In a surprise announcement Monday before markets opened... Read More

Fed Takes Emergency Steps to Slash Rates and Ease Bank Rules
Federal Reserve
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 by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage... Read More

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

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

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

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

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

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

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

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

Trump May Try To Bolster Economy With Payroll Tax Cut
Economy
Trump May Try To Bolster Economy With Payroll Tax Cut
2019-08-20 20:43:58
by Dan McCue

WASHINGTON - President Donald Trump said Tuesday that his administration is considering a temporary payroll tax cut as a way to bolster the U.S. economy though he continues to insist the nation is not inching toward a recession. "I’ve been... Read More

Fed Cuts Interest Rate Cut For First Time Since 2008
Economy
Fed Cuts Interest Rate Cut For First Time Since 2008

WASHINGTON — The Federal Reserve on Wednesday cut interest rates for the first time since the Great Recession in 2008, a risky move that clashes with its historical practice of taking such a step only when the economy is in... Read More

GOP Senators Sound Optimistic About Trump’s New Fed Picks
Federal Reserve
GOP Senators Sound Optimistic About Trump’s New Fed Picks

WASHINGTON — A week after President Donald Trump tweeted his intention to nominate Judy Shelton and Christopher Waller to the Federal Reserve Board, GOP senators are expressing cautious optimism about both picks, despite Shelton’s unorthodox views on monetary policy. They’re... Read More

Trump Says He’ll Nominate Waller, Shelton to Federal Reserve
Federal Reserve
Trump Says He’ll Nominate Waller, Shelton to Federal Reserve

President Donald Trump said Tuesday he’s planning to nominate Christopher Waller and Judy Shelton to serve on the Federal Reserve Board. Waller, who is an executive vice president and the director of research at the St. Louis Federal Reserve Bank,... Read More

Federal Reserve Holds Key Interest Rate Steady Despite Pressure From Trump
Federal Reserve
Federal Reserve Holds Key Interest Rate Steady Despite Pressure From Trump

WASHINGTON — The Federal Reserve, facing heavy pressure from President Trump to lower borrowing costs, left interest rates unchanged Wednesday but made clear that it was leaning toward cutting rates because of rising risks from trade tensions and a softer... Read More

Fed Chairman Hints That Rate Cuts May Be Needed Due to Trade Disputes
Federal Reserve
Fed Chairman Hints That Rate Cuts May Be Needed Due to Trade Disputes
2019-06-04 20:05:30
by Dan McCue

Federal Reserve Chairman Jerome Powell hinted on Tuesday that the central bank is prepared to cut interest rates later this year if it decides President Donald Trump's many trade conflicts are harming the U.S. economy. "We are closely monitoring the... Read More

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