Jerome Powell
WASHINGTON — Federal Reserve Chairman Jerome Powell said Thursday he would not resign if requested by President-elect Donald Trump in a potential dispute over constitutional authority. The Federal Reserve is led by a seven-member board of governors. They can be... Read More
The big news in Washington today is, of course, the pending decision by the Federal Reserve’s Open Market Committee on interest rates. That decision is scheduled to be released early this afternoon. A press briefing by Fed Chair Jerome Powell... Read More
JACKSON HOLE, Wyoming (AP) — Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades. Powell... Read More
WASHINGTON (AP) — Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs. Yet despite his resolute words, the Fed... Read More
NEW YORK — Though there has been some improvement in the metrics used to measure inflation, a slowing U.S. manufacturing sector among other factors suggests the risk of a looming recession continues to be strong, according to an economist with... 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
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
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
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
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
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
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
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
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
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
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
