federal reserve

Government, Business

Powell Again Warns of Weak US Recovery Without Enough Aid

Federal Reserve Chairman Jerome Powell speaks during a virtual news conference on Sept. 16. Federal Reserve Chairman Jerome Powell speaks during a virtual news conference on Sept. 16. (Daniel Acker/Bloomberg News)

Federal Reserve Chair Jerome Powell warned of a weak U.S. recovery without sufficient government aid and said providing too much stimulus wouldn’t be a problem.

Matthew Boesler | Bloomberg News
October 6, 2020
Government, Business

Fed’s Bullard Says ‘Full Recovery’ for US in Reach by Year End

James Bullard, president and CEO of the Federal Reserve of St. Louis, gestures during a conference in October 2019. James Bullard, president and CEO of the Federal Reserve of St. Louis, gestures during a conference in October 2019. (Luke MacGregor/Bloomberg News)

Federal Reserve Bank of St. Louis President James Bullard, in the most upbeat comments by a central banker since the start of the COVID-19 outbreak, said the U.S. economy may surge at a 35% annualized rate in the third quarter and the nation may be close to a complete recovery by year-end.

Steve Matthews | Bloomberg News
September 24, 2020
Government, Business

Fed Signals Rates Will Stay Near Zero for at Least Three Years

The Marriner S. Eccles Federal Reserve building stands in Washington on Aug. 18. The Marriner S. Eccles Federal Reserve building stands in Washington on Aug. 18. (Erin Scott/Bloomberg News)

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.

Catarina Saraiva | Bloomberg News
September 16, 2020
Business, Fuel

Oil Surges With High Hopes Ahead of Federal Reserve Meeting

A valve wheel sits attached to crude oil pipework in a Russian oilfield on Aug. 16. A valve wheel sits attached to crude oil pipework in a Russian oilfield on Aug. 16. (Andrey Rudakov/Bloomberg News)

Oil extended gains above $40 a barrel in New York as shrinking crude stockpiles and speculation that the Federal Reserve will keep interest rates low raised hopes that an economy ravaged by the pandemic may be on the mend.

September 16, 2020
Government, Business, Safety

Fed Survey Finds Pessimism About Economic Future

A new Federal Reserve survey found pessimism among businesses about their economic future. Federal Reserve Chairman Jerome Powell speaks during a Congressional hearing on Capitol Hill on June 30. (Bill O'Leary/The Washington Post via AP)

The latest Federal Reserve survey of U.S. economic activity found generally modest gains in August but also pessimism about the future given the threats posed by the coronavirus.

Martin Crutsinger | Associated Press
September 2, 2020
Government, Business

Fed Seen Holding Rates at Zero for Five Years in New Policy

The Marriner S. Eccles Federal Reserve building in Washington. The Marriner S. Eccles Federal Reserve building in Washington. (Andrew Harrer/Bloomberg News)

The Federal Reserve looks likely to keep short-term interest rates near zero for five years or possibly more after it adopts a new strategy for carrying out monetary policy.

Rich Miller | Bloomberg News
August 26, 2020
Government, Business, Safety

Fed Minutes Note Consumer Spending Rebound, Uncertainty

The Marriner S. Eccles Federal Reserve building stands in Washington, D.C. The Marriner S. Eccles Federal Reserve building stands in Washington, D.C. (Andrew Harrer/Bloomberg News)

U.S. central bankers noted the rebound in consumer spending at their last meeting but repeated their view that the path of the recovery would depend on containment of the virus.

August 19, 2020
Government, Business

Fed Sees Dim Economic Outlook as Virus Squeezes Economy

Jerome Powell Jerome Powell by Andrew Harrer/Bloomberg News

WASHINGTON — The Federal Reserve expressed concern July 29 that the viral outbreak will act as a drag on the economy and hiring in the coming months and said it plans to keep its benchmark short-term interest rate pegged near zero.

Christopher Rugaber | Associated Press
July 29, 2020
Government, Business

Fed Survey Shows Tepid Recovery in Early July

Shoppers walk through a mall in Syracuse, N.Y., on July 10. Shoppers walk through a mall in Syracuse, N.Y., on July 10. (Maranie Staab/Bloomberg News)

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.

Catarina Saraiva | Bloomberg News
July 15, 2020
Government, Business

Powell Warns That Long Downturn Would Mean Severe Damage

Federal Reserve Chair Jerome Powell pauses during a news conference in Washington on March 3. Federal Reserve Chair Jerome Powell pauses during a news conference in Washington on March 3. (Jacquelyn Martin/Associated Press)

Federal Reserve Chairman Jerome Powell said the U.S. economy faces a deep downturn with “significant uncertainty” about the timing and strength of a recovery.

Martin Crutsinger | Associated Press
June 16, 2020

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