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<strong></img>Fed Leaves Interest Rate Unchanged, But Signals Increase ‘Soon’</strong>
Federal Reserve
Fed Leaves Interest Rate Unchanged, But Signals Increase ‘Soon’
2022-01-27 14:44:00
by Dan McCue

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

Wall Street
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 Wednesday and whether the Fed will clarify just how fast it plans to tighten credit and potentially slow the economy.... Read More

Federal Reserve
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 Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first... Read More

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

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

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 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

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

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

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

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

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

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

Economy
Experts Unsure Whether Stimulus Causing Inflation
2021-07-02 18:47:08
by Kate Michael

WASHINGTON — If it seems like prices are going up for things like gas, groceries, vehicles, and houses, they are. The Consumer Price Index has risen by an average of 0.7% per month over the last three months, is now... Read More

Federal Reserve
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 the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising... Read More

Federal Reserve
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 emergency lending programs created last year to stabilize financial markets at the height of the pandemic crisis. The Fed will... Read More

Economy
Economic Challenges Difficult, Not Insurmountable
2021-02-22 17:54:19
by Kate Michael

WASHINGTON — According to experts convened by the political advocacy group The Concord Coalition, the nation’s long standing fiscal, monetary, and economic challenges were made more difficult by the pandemic, but they are not insurmountable.  Leaders from the Congressional Budget... Read More

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

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

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

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

Economy
Trump Halt of COVID-19 Relief Talks Draws Sharp Rebuke on Capitol Hill
2020-10-06 21:22:56
by Dan McCue

WASHINGTON — Anger on Capitol Hill boiled over Tuesday after President Donald Trump called an abrupt end to negotiations with House Democrats over additional coronavirus relief, delaying action until after the election. Trump announced he was walking away from the... Read More

Federal Reserve
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 help the U.S. economy recover from the coronavirus pandemic. The Federal Open Market Committee “expects to maintain an accommodative stance... Read More

Economy
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, while a “hard” lockdown could deliver a faster economic recovery, a senior Federal Reserve official said on Sunday. Federal Reserve... Read More

Economy
Economy Last Quarter Was Worst in US History, Shrinking 32.9%
2020-07-30 15:45:22
by Dan McCue

WASHINGTON - The U.S. economy shrank at an annual rate of 32.9% in the second quarter -- the worst quarterly decline ever -- amid a coronavirus pandemic that shuttered businesses and threw millions out of work. The Commerce Department's estimate... Read More

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

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

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

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

Economy
Federal Reserve Extends Lending to Smaller US Cities and Counties
2020-04-28 20:22:16
by Dan McCue

WASHINGTON - The Federal Reserve is expanding the eligibility criteria for a lending program intended to support the municipal bond market to allow small U.S. cities and municipalities to access needed funds from the central bank. The loosening of lending... Read More

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

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

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

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

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

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

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

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

Economy
US Consumer Borrowing Slowed in February, Fed Says
2019-04-05 20:56:28
by Dan McCue

Consumer borrowing rose at a slower pace in February as a surge in the use of credit cards was offset by a slackening in demand for student loans and auto loans, the Federal Reserve said Friday. The central bank said... Read More

Economy
United States Posted Largest-Ever Monthly Budget Deficit in February
2019-03-22 21:31:58
by Dan McCue

The federal government posted its biggest monthly budget deficit ever in February as a sharp decline in corporate revenue coincided with increased spending, the Treasury Department announced Friday. The budget gap widened to $234 billion in February, compared with a... Read More

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