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Stocks were pushing further into record heights on Wall Street Thursday after the Federal Reserve made a major overhaul to its strategy, one that could keep interest rates lower for longer.
WASHINGTON – Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring.
Wall Street is resuming its rise on Monday, while gold rushes to a record at the start of a week packed with potentially market-moving events.
The Federal Reserve set up the Main Street Lending program to provide capital to small and medium-sized business as they come out of the pandemic, but two local bankers say the current restrictions have made the program a dead end.
The national economy has been placed in a medically induced coma by the unprecedented government response to the novel coronavirus, the chief investment officer for Washington Trust Bank told members of Spokane’s chamber of commerce Friday. It may be several months before the full ramifications of that decision are known and felt in the Inland Northwest, Steve Scranton told a virtual audience of roughly 300 people gathered by Greater Spokane Incorporated on Zoom.
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.
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.
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.
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.
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.
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.
If the case for negative interest rates is so strong, why all the controversy? The answer, of course, is that the case isn’t that strong.
For a second straight time, the Federal Reserve is set to cut interest rates this week to try to protect the economy from the consequences of a global slowdown and President Donald Trump’s trade war with China.
Under the glare of a spotlight, Chairman Jerome Powell may signal Friday what the Federal Reserve will do – or can do – to strengthen the economy and restore confidence at a time of nagging uncertainties and global weaknesses.
The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter threats ranging from uncertainties caused by President Donald Trump’s trade wars to chronically low inflation and a dim global outlook.
Powell sends strong signal that Fed is prepared to cut rates in light of rising uncertainties.
Technology and health care companies drove U.S. stocks to a lower finish Monday as the market fell for a second straight day following a run of record highs.
Federal Reserve Chairman Jerome Powell said Tuesday the outlook for the U.S. economy has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates.
The Federal Reserve left its key interest rate unchanged Wednesday but signaled that it’s prepared to start cutting rates if needed to protect the U.S. economy from trade conflicts and other threats.
Jerome Powell has tantalized the financial world with the prospect that the Federal Reserve he leads may soon cut interest rates for the first time in over a decade. Probably not quite yet, though.