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President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies at a perilous time, according to a person familiar with the transition plans.
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.
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.
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.
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.
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.
A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year while saying it’s prepared to continue doing what it deems necessary to sustain the U.S. economic expansion.
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 Fed increasingly sees itself as a social agency dedicated to job creation. That – more than the effect on stock prices – is the real story behind the Fed’s recent decision to cut interest rates by a quarter point.
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.
Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook 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.
President Donald Trump says he has no intention of ending his public attacks on the Federal Reserve’s interest rate policies even though he knows he has made Chairman Jerome Powell’s job more difficult.
Chairman Jerome Powell said Tuesday that the Federal Reserve is prepared to respond to the Trump administration’s trade conflicts to protect the U.S. economy, signaling that the Fed will cut interest rates if necessary.
Federal Reserve Chairman Jerome Powell said Thursday the United States needs to find ways to address a decades-long slowdown in income growth and upward economic mobility.
The withdrawal Thursday of Stephen Moore, President Donald Trump’s choice for the Federal Reserve board, has thrown a spotlight on the tough task Trump has set for himself: Finding a rare conservative ally who both favors cutting interest rates and is respected enough to win Senate confirmation.
The Federal Reserve left its key interest rate unchanged Wednesday and signaled that it’s unlikely to either raise or cut rates in coming months amid signs of renewed economic health but unusually low inflation.