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Friday, October 30, 2020  Spokane, Washington  Est. May 19, 1883
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Trump halts COVID-19 relief talks until after election

President Donald Trump abandoned COVID-19 relief talks on Tuesday, saying they won't resume until after the election. The move came as the chairman of the Federal Reserve said that further fiscal intervention is needed to prevent the economy from spiraling downward.

Senate panel approves Trump’s controversial Fed nominee

The Senate Banking Committee on Tuesday approved President Donald Trump's choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed.

Fed report notes sharp virus-related drop in economy

The Federal Reserve detailed Wednesday what most of the nation is already acutely aware of: Economic activity fell sharply around the country in April and May as measures to combat the spread of the coronavirus outbreak took hold.

Powell says Fed will name borrowers, will use all its tools

Federal Reserve Chair Jerome Powell is pledging to reveal the names and other details of the entities that borrow from the emergency programs the central bank has set up to offset the economic hit from the viral outbreak.

Fed expands Main Street Lending Program for businesses

The Federal Reserve announced Thursday that it was expanding a major lending program to provide support for businesses struggling to cope with the economic disruptions caused by the coronavirus pandemic.

Questions swirl as Fed meets during deepening economic crisis

WASHINGTON – The Federal Reserve has largely calmed turbulent financial markets. Yet a far tougher task remains: Helping rescue an economy and job market that appear to be free-falling into the worst catastrophe since the Great Depression. Fed policymakers will meet Tuesday and Wednesday against a backdrop of dismal data: More than 26 million Americans have applied for unemployment benefits since the coronavirus forced widespread business closures. Retail sales have dropped by a record pace. Home sales have plunged.

Fed notes what most Americans see: A sharp economic downturn

WASHINGTON – The Federal Reserve is noting what most Americans are already acutely aware of: Economic activity contracted sharply and abruptly cross all regions of the country in recent weeks as the country locked down to combat the coronavirus pandemic.

A new $2.3 trillion Fed plan will aid localities and companies

The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support the economy. The money will target American households and businesses, as well as local governments besieged by the coronavirus outbreak.

Fed to buy as much government debt as needed to aid economy

In its boldest effort to protect the U.S. economy from the coronavirus, the Federal Reserve says it will buy as much government debt as it deems necessary and will also begin lending to small and large businesses and local governments to help them weather the crisis.

Fed launches 2 emergency programs last seen in 2008 crisis

The Federal Reserve put in motion two emergency lending programs Tuesday that were last deployed in response to the 2008 financial crisis, aiming to ease the flow of credit to businesses and households struggling amid the viral outbreak.

Fed slashes rates to near zero, eases bank lending rules

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.

As virus roils markets, Trump again threatens Fed chairman

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