Jerome Powell

Stories 21 - 40 | << Prev   Next >>

Powell Warns of 'Some Pain' for Households, Businesses

But Fed chief says the central bank must keep raising rates to prevent greater pain

(Newser) - Fed chief Jerome Powell delivered a closely watched speech on Friday that made clear he expects the central bank to continue raising interest rates, reports CNBC . Wall Street didn't seem thrilled: The Dow fell 200 points as Powell spoke in Jackson Hole, Wyoming, and it was down more than...

After Fed Chair's Remarks, Stocks Soar to Biggest Gain in 2 Years

Jerome Powell downplayed chances of even bigger rate increase

(Newser) - Stocks soared to their biggest gain in two years Wednesday and bond yields dropped after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger rate increase than the one announced Wednesday. That allayed concerns that the central bank was on its way to a massive increase of...

Fed Might Do What It Hasn't Done in 22 Years

Jerome Powell floats possibility of half-point hike in interest rates

(Newser) - Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected if it decides that this would be necessary to slow rampaging inflation, per the AP . His comments did not please the markets. Immediately afterward, the major indexes fell noticeably, with the...

Fed Confirms Big Move to Tame Inflation

Benchmark interest rate is going up for the first time since 2018

(Newser) - The Federal Reserve, in the first of what is expected to be a series of hikes, is raising its key short-term interest rate by a quarter-point from near zero. The central bank, which is fighting to tame the worst inflation in 40 years, signaled Wednesday that there could be up...

Biden Fed Nominee Withdraws After Manchin Says No

Biden says Sarah Bloom Raskin was 'subject to baseless attacks'

(Newser) - Update: Sarah Bloom Raskin has withdrawn from consideration for a key post on the Federal Reserve's board of governors, handing Sen. Joe Manchin another win. The Democrat joined all 50 Republicans in the Senate Monday in opposition to confirming Bloom at the Fed's top banking regulator. In a...

Fed Chief: We'll Get More Aggressive on Inflation

Jerome Powell tells Congress they'll raise interest rates more if need be

(Newser) - Federal Reserve Chair Jerome Powell acknowledged Tuesday that high inflation has emerged as a serious threat to the Fed's goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem surging prices. "If we...

Fed's Vice Chair, Facing Questions on Trades, Resigns

Richard Clarida is the third top official to leave under a cloud

(Newser) - The vice chair of the Federal Reserve is resigning in the face of questions about his stock trading during the pandemic. Richard Clarida, whose term was in its last month, made the announcement Monday but did not elaborate, the Washington Post reports. "I will miss his wise counsel and...

Only 3 Federal Officials Viewed Favorably by Most in US

John Roberts, the Fed's Jerome Powell, and Anthony Fauci

(Newser) - Gallup put the names of 11 federal officials in front of Americans in a new survey, and only three registered positive ratings from the majority of respondents. The clear No. 1 was Supreme Court Justice John Roberts (60%), followed by Fed chief Jerome Powell (53%) and Dr. Anthony Fauci...

Biden Makes Highly Anticipated Picks to Lead the Fed

President nominates Powell to continue as chair, wants to elevate Democrat Brainard to No. 2

(Newser) - President Biden has settled on a decision that's been awaited by economic markets around the world—he wants Jerome Powell to remain as chair of the Federal Reserve. Powell is a Republican, and while Democrats had been chafing for a switch at the central bank, the president opted for...

Warren Calls Fed Chair a 'Dangerous Man'

She tells Jerome Powell she will oppose his renomination

(Newser) - Sen. Elizabeth Warren addressed what she called the "elephant in the room" at a Senate Banking Committee hearing Tuesday—the question of whether Jerome Powell will be renominated as Federal Reserve chair. The Democrat told Powell that she considers him a "dangerous man" who has weakened the country'...

Fed Considers Its Own Digital Currency

Powell sees no rush, though China's central bank is forging ahead on development

(Newser) - The Federal Reserve expects to issue a paper soon addressing whether it should go ahead with a digital currency of its own. The central bank has been looking into the issue, with the Boston Fed and MIT combining on a study that will precede the paper, CNBC reports. The advantages,...

Federal Reserve Chair Signals a 'Tapering' May Be Coming

Jerome Powell says if hiring stays on track, Fed will start to pull back on its low-rate pandemic policies

(Newser) - The Federal Reserve will start dialing back its ultra-low-rate policies this year as long as hiring continues to improve, Chair Jerome Powell said Friday, signaling the beginning of the end of the Fed's extraordinary response to the pandemic recession. Investors seemed to like the sentiment, with markets rising, notes...

Markets Remain Calm as Fed Chief Testifies
Analyst Says Investors
Will Have to 'Buckle Up'
MARKETS
Jun 22, 2021 3:45 PM CDT

Analyst Says Investors Will Have to 'Buckle Up'

But markets remained calm as Fed chief Jerome Powell testified

(Newser) - Stocks finished higher on Wall Street Tuesday, nudging the S&P 500 closer to the record high it reached last week. The benchmark index added 0.5%. The Nasdaq did a bit better, climbing 0.8%, with an assist from gains in several big technology stocks. Markets were relatively calm...

Fed Says Outlook for 2021 Has Brightened

But interest rate is staying near zero

(Newser) - The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes "substantial" progress—a step intended to reassure financial markets and keep long-term borrowing rates low indefinitely. The Fed also reiterated after its latest policy meeting that it expects to keep its short-term benchmark...

Fed Plans to Leave Rates Unchanged Until 2023

Central bank says it will accept higher inflation

(Newser) - The Federal Reserve expects to keep its benchmark interest rate pegged near zero at least through 2023 as it strives to accelerate economic growth and drive down the unemployment rate. The central bank also said Wednesday that it will seek to push inflation above 2% annually. The Fed left its...

Fed Chair Announces Big Change on Interest Rates

Jerome Powell says Fed will keep rates near zero, even after inflation exceeds 2%

(Newser) - The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded the Fed's 2% target level. The change signifies that the Fed is prepared to tolerate a higher level of inflation than...

Stocks Jump After Big News From Fed

Interest rates expected to stay near zero until 2022

(Newser) - The Federal Reserve said Wednesday that it will keep buying bonds to maintain low borrowing rates and support a US economy mired in a deep recession with high unemployment. And it said nearly all its policymakers foresee no rate hikes through 2022. The Fed has cut its benchmark short-term rate...

Fed Indicates It Will Hold Rates Near Zero for Months

Fed will also keep buying Treasury and mortgage bonds

(Newser) - The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. As part of its emergency steps, the Fed said it...

Fed Chief: Economy's Rebound May Be 'Robust'

Agency unveils $2.3T loan program to help small businesses, cities

(Newser) - The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support the economy, per the AP . The money will target American households and businesses, as well as local governments besieged by the coronavirus outbreak. The Fed said Thursday that it's activating a...

Fed Chief: &#39;We May Well Be in a Recession&#39;
Fed Chief
Addresses
the R-Word
Mar 26, 2020 8:45 AM CDT

Fed Chief Addresses the R-Word

Jerome Powell says we 'may well be in a recession'

(Newser) - Are we going to enter a recession? We may already be in one, said Federal Reserve Chair Jerome Powell on Thursday, though he tempered his answer. In a Today Show appearance, Powell acknowledged that "we may well be in a recession," but "I would point to the...

Stories 21 - 40 | << Prev   Next >>