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Spokane, Washington  Est. May 19, 1883
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AP source: Biden taps ex-Fed chair Yellen to lead treasury

 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.

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.

Powell hears bipartisan Senate support for Fed independence

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.

Fed cuts rates for a 3rd time but signals it will now pause

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.

A divided Fed cuts key rate for 2nd time this year

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.

Powell may signal future rate cuts, but would they matter?

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.

Robert J. Samuelson: The Fed and the jobs punch bowl

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.

Fed cuts key rate in its first reduction in more than decade

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 says economy facing growing uncertainties

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.

Trump says he plans to keep criticizing Fed over rates

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.

Powell hints Fed will cut rates if needed over trade wars

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.

A Trump dilemma: Finding a dovish GOP ally to serve on Fed

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.

Fed signals neither a rate hike nor a cut is likely soon

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.