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Federal Reserve

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

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

WASHINGTON - President Donald Trump said Tuesday that his administration is considering a temporary payroll tax cut as a way... Read More

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

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

Federal Reserve Chairman Jerome Powell hinted on Tuesday that the central bank is prepared to cut interest rates later this... Read More

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

2019-04-22 20:31:26
by Dan McCue
Cain Withdraws from Consideration for Seat on Federal Reserve

Former Godfather’s Pizza CEO Herman Cain has withdrawn from consideration for a seaton the Federal Reserve board amid focus on... Read More

Former Godfather’s Pizza CEO Herman Cain has withdrawn from consideration for a seaton the Federal Reserve board amid focus on past allegations of sexual harassment and infidelity. Cain ran for president as an insurgent populist eyeing the 2012 Republican presidential... Read More

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