Latest News Updates From Catarina Saraiva

Federal Reserve officials left interest rates unchanged but revealed a deepening division over the outlook for policy amid increased uncertainty.

Warsh, who served on the U.S. central bank’s Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term ends in May.

In a statement, officials repeated that inflation remains “somewhat elevated” but removed a reference to it having made progress toward their 2% goal.

Federal Reserve Bank of Minneapolis President Neel Kashkari said he’ll be looking at incoming inflation data to determine whether another interest-rate cut is appropriate in December.

The Federal Reserve’s Main Street Lending Program, which was designed to provide emergency support to midsize U.S. companies during the pandemic, lent out a total $17.5 billion — or just 3% of its potential capacity — according to data released Feb. 9 by the central bank.

The U.S. economic recovery remained moderate across much of the country, and showed signs of a slowdown in areas where coronavirus cases are particularly high, according to a Federal Reserve report.

The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the U.S. economy recover from the coronavirus pandemic.

Optimism about a nascent recovery in the U.S. economy was dampened by increased uncertainty over the path of the coronavirus, according to a new report from the Federal Reserve.

The likelihood of a U.S. recession in the next 12 months rose to 35% in an August survey of economists, from 31% forecast previously, as global trade tensions fuel economic uncertainty.

A delayed Federal Reserve rate hike, turmoil in global equity markets ... and now increased expectations for a downturn in the United States.