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The Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak.
President Donald Trump says he has the power to fire or demote Federal Reserve Chairman Jerome Powell, adding new fuel to his criticism of the central bank’s leader as the economy is at risk of edging into recession
The Federal Reserve moved Thursday to try to ease disruptions in the financial markets stemming from the coronavirus by announcing that it will sharply increase its purchases of short-term Treasury bonds.
The Federal Reserve will cut interest rates by a half-percentage point in its first emergency rate cut since the Great Recession in response to the spreading coronavirus.
One of President Donald Trump’s nominees for the Federal Reserve came under sharp questioning Thursday from senators who expressed skepticism at her unorthodox economic views, including two Republicans who raised doubts about her nomination.
Republican and Democratic senators voiced strong support for an independent Federal Reserve during a hearing with Fed Chair Jerome Powell, one day after President Donald Trump launched another attack directed at Powell on Twitter.
WASHINGTON – About a year ago, Federal Reserve officials were nervous. Markets were cratering. Fear about a trade war was rising. The officials needed to know if the turmoil was chilling consumer spending. Problem was, a partial shutdown of the government had halted the release of most economic data.
The Federal Reserve kept its benchmark interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats.
For the first time in years, Federal Reserve officials will hold their latest policy meeting this week feeling broadly satisfied with where interest rates are and with seemingly no inclination to change them anytime soon.
The Federal Reserve left its benchmark interest rate alone Wednesday and signaled that it expects to keep low rates unchanged through next year.
The Federal Reserve is expected to send a clear message when its latest policy meeting ends Wednesday: Interest rates will likely stay ultra-low for the foreseeable future.
Paul Volcker, the former Federal Reserve chairman who in the early 1980s raised interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office.
President Donald Trump summoned Federal Reserve Chairman Jerome Powell to the White House on Monday to discuss the economy and interest rates – issues on which Trump has repeatedly attacked the Fed.
Federal Reserve Chairman Jerome Powell expects the U.S. economy to continue growing at a solid pace, though it still faces risks from slower growth overseas and trade tensions.
The Federal Reserve cut short-term interest rates Wednesday for a third time this year to try to support the economy. But it signaled that it plans no further cuts unless it sees clear evidence that the economic outlook has worsened.
Economists and investors who are trying to get a fix on what the Federal Reserve may do in the months ahead have zeroed in on a single phrase in the statement it has issued after its most recent policy meetings.
The Federal Reserve is easing restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump.
On Wednesday, Fed Chairman Jerome Powell instead said that low inflation can create problems for the U.S. economy, calling it one of the “longer-term challenges” facing the United States.
If ever there was a case of political miscalculation, it’s the collapsing relationship between President Trump and the chairman of the Federal Reserve Board, Jerome (“Jay”) Powell. Trump seems to have believed that he could easily manipulate Powell into embracing an aggressively easy monetary policy whose main objective was Trump’s re-election. For his part, Powell seems to have believed that, although Trump would periodically challenge the Fed’s behavior, he would fundamentally respect its “independence.”
President Donald Trump’s Twitter attacks on the Federal Reserve are prompting investors to bet the central bank will bow to political pressure and lower interest rates, according to a new study.