Trump Halt of COVID-19 Relief Talks Draws Sharp Rebuke on Capitol Hill
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

Mnuchin, Powell Say Congress Needs to Pass More COVID-19 Relief
Economy
Mnuchin, Powell Say Congress Needs to Pass More COVID-19 Relief

WASHINGTON — Treasury Secretary Steven Mnuchin, Federal Reserve Chairman Jerome Powell and representatives from both parties agreed on at least one point at a hearing Tuesday: The economy needs more relief from Congress to sustain the recovery from the coronavirus.... Read More

Powell’s Fed Shift Allows for Higher Employment and Inflation
Economy
Powell’s Fed Shift Allows for Higher Employment and Inflation

Federal Reserve Chair Jerome Powell unveiled a new approach to setting U.S. monetary policy, letting inflation and employment run higher in a shift that will likely keep interest rates low for years to come. Following a more than yearlong review,... Read More

Economy Last Quarter Was Worst in US History, Shrinking 32.9%
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

Treasury Secretary, Fed Chairman Split on Urgency of Congressional Relief Action
Economy
Treasury Secretary, Fed Chairman Split on Urgency of Congressional Relief Action

WASHINGTON — Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell have worked hand in hand to soften the economic devastation wrought by COVID-19, but they don’t appear to see eye to eye on the potential for a quick... Read More

Powell Warns US Recovery Could Stretch Through End of 2021
Economy
Powell Warns US Recovery Could Stretch Through End of 2021

The U.S. economy will recover from the coronavirus pandemic, but the process could stretch through until the end of next year and depend on the delivery of a vaccine, said Federal Reserve Chairman Jerome Powell. “Assuming there’s not a second... Read More

Fed’s Powell to Congress: Economy Needs More Fiscal Relief
Economy
Fed’s Powell to Congress: Economy Needs More Fiscal Relief

WASHINGTON — Federal Reserve Chairman Jerome Powell has a clear message for Congress: Spend more money, right now. In an interview Wednesday with the Peterson Institute for International Economics, Powell called the COVID-19 pandemic an unprecedented economic challenge that needs... 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

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

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

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