The former chair of the Federal Reserve will reportedly support another term for her immediate successor.
The country should see "strong job creation building up over the summer and going into the fall" as the labor shortage fades, the Fed chair said.
The US economic recovery is "highly uncertain" and it's premature for the Fed to tighten, Jerome Powell said. It's "not yet" even time to consider it.
Federal Reserve Chairman Jerome Powell reiterated Thursday that the central bank is far from tapering its asset purchases or raising interest rates. “Now is not the time to be talking about an exit” from easy monetary policy, the central bank chief said in a virtual discussion. The comments come after […]
The nation’s top two economic-policy officials locked horns on Thursday, a rare public disagreement as the coronavirus pandemic worsens and the pace of economic recovery weakens. Treasury Secretary Steven Mnuchin called for the Federal Reserve to return funds allocated to a spate of emergency lending facilities, leaving five programs to […]
Federal Reserve Chair Jerome Powell said Tuesday that although recent vaccine updates are “certainly good news,” the US economy faces a tough path to full recovery. Moderna and Pfizer and BioNTech recently announced their experimental vaccines were highly efficient at protecting trial patients from COVID-19. The news drove stocks to […]
The Federal Reserve will extend the maturity of its $US80-billion-per-month purchase of Treasurys in December to further support the US economy, Michael Feroli, chief US economist at JPMorgan, said Monday. The central bank has kept its policy stance the same for months, but surging COVID-19 cases threaten to derail the […]
The US economy won’t return to the exact same state it was in before the pandemic, Federal Reserve Chair Jerome Powell said Thursday. The health crisis is accelerating digitization throughout the economy, and Americans already slammed by the virus’s fallout are at the highest risk of losing their jobs, he […]
Additional fiscal stimulus is needed to keep the economic recovery on track, former Federal Reserve Chair Janet Yellen said Monday. The central bank “has already done a huge amount,” and now Congress needs to pick up the slack, she said on Bloomberg TV. “While the pandemic is still seriously affecting […]
Failure to pass adequate and timely stimulus endangers the US economic recovery, Federal Reserve Chairman Jerome Powell said Tuesday. In one of his most pointed calls for new aid, Powell noted that the risks of passing new relief measures “are still asymmetric.” While overspending risks are small, passing too little […]
US stocks rose Wednesday following a key Federal Reserve policy meeting and congressional testimony from big tech companies including Facebook and Amazon. The Federal Reserve held interest rates near zero, and again pledged to do whatever it takes to aid the US economy in recovery from the pandemic recession. Starbucks […]
The Federal Reserve on Wednesday released projections for the US economy through 2022. It’s the first time the central bank has reported projections since the coronavirus pandemic began. The Fed expects the unemployment rate to remain elevated through the next few years, but eventually trend lower as the economy recovers. […]
US stocks traded mixed Wednesday as investors awaited the Federal Reserve’s next round of economic guidance. While the Dow Jones industrial average edged lower, the tech-heavy Nasdaq added to a record close on Tuesday. Investors looked past a report from the OECD saying that the coronavirus pandemic has triggered the […]
Fifty-eight per cent of Americans said that they have a great deal or a fair amount of confidence that Powell will do or recommend the right thing for the economy, according to an April 1-14 Gallup Poll released Thursday. It’s the highest reading a Fed chair has had since Alan […]
Former Federal Reserve Chair Janet Yellen said that US GDP could slump 30% in the second quarter amid coronavirus in a Monday interview with CNBC. In addition, the unemployment rate might currently be 12% or 13% and moving higher, Yellen said. A V-shaped recovery is still possible, but Yellen worries […]
Former Federal Reserve Chair Janet Yellen doesn’t anticipate a recession in the next year, but cited two factors in why she thinks “odds of a recession are higher than normal,”CNBC reported. Yellen pointed to growing wealth inequality and the US-China trade war as critical drivers of a potential downturn. Both […]
