Jerome Powell

U.S. 09/05/20, 11:58

Federal Reserve (Fed) Chairman Jerome Powell acknowledged his mistake in trying to keep inflation below 2 percent for several years, and said President Donald Trump was right that the approach should be more flexible. Now the Fed will allow inflation to rise a little more than 2 percent and its criteria ...

Politics 06/12/20, 05:47

President Donald Trump on Thursday, June 11, criticized the Federal Reserve after it offered a gloomy outlook on the U.S. economy, which shook the stock market after months of steady gains. The Dow Jones Industrial Average lost more than 1,800 points, or 6.9%, on Thursday, recording the worst day since crashing ...

D.C. 05/06/20, 04:12

A controversial Democrat plans to use an upcoming Senate hearing to grill a respected clinician over the nation's response to the deadly Asian virus. Senate Minority Leader Chuck Schumer (D-N.Y.) is looking forward to hearing a former National Institute of Allergy and Infectious Diseases director testify at an oversight committee hearing ...

Business 10/31/19, 18:25

President Donald Trump on Thursday, Oct. 31, raged at the Federal Reserve (Fed) and its chairman Jerome Powell, saying “people are very disappointed” as the central bank is putting the United States at a competitive disadvantage. “People are VERY disappointed in Jay Powell and the Federal Reserve,” President Trump tweeted, one ...

Business 09/16/19, 16:32

President Donald Trump said on Sept. 16 that the Federal Reserve (Fed) now has another important reason to cut interest rates sharply, one day before its Federal Open Market Committee (FOMC) holds a policy meeting on Sept. 17-18. The president first slammed the Fed and its chairman Jerome Powell for letting ...

U.S. 08/01/19, 07:20

The Federal Reserve (Fed) cut its interest rate for the first time in more than a decade on Wednesday, July 31, but it appears that that didn't satisfy President Donald Trump who wants more aggressive action from the central bank. The Federal Open Market Committee lowered the benchmark rate by 25 ...

U.S. 07/31/19, 06:57

The Federal Reserve is expected to cut its key interest rate on Wednesday, July 31, to deal with what it sees as threats to the U.S. economy that it might face. This will be the first rate cut since December 2008 during the financial crisis. AP reported, "Most analysts expect the Fed ...

Business 07/22/19, 14:22

President Donald Trump has once again pushed the Federal Reserve (the Fed) to lower interest rates, one week before its Federal Open Market Committee (FOMC) will hold the next policy-setting meeting. In a series of tweets on Monday morning, July 22, President Trump at first repeated his criticism over the central ...

U.S. 07/11/19, 04:31

Federal Reserve Chairman Jerome Powell has reinforced prospects for a rate cut for the first time in a decade, saying some potential factors weighing on the U.S. economy remain hanging. Testifying before the House Financial Services Committee on Wednesday, July 10, Powell outlined threats that the world’s largest economy is facing, ...

U.S. 06/26/19, 14:02

President Donald Trump on Wednesday, June 26, repeated his arguments that the U.S. economy could have hit a growth rate of up to 5 percent and the Dow Jones Industrial Average could have added another 10,000 points if the central bank had not tightened monetary policies too much. In an interview ...

U.S. 06/20/19, 05:17

The Federal Reserve (Fed) decided to hold interest rates steady Wednesday, June 19, saying that information it has received since May indicates the labor market remains strong and economic activity is rising at a moderate rate. But the central bank signaled a rate cut is on the way. Fed’s Federal Open ...

Business 06/17/19, 10:59

Jerome Powell has tantalized the financial world with the prospect that the Federal Reserve he leads may soon cut interest rates for the first time in over a decade. Probably not quite yet, though. When the Fed issues a policy statement Wednesday and Powell holds a news conference, the message will likely ...

Business 06/05/19, 20:34

Most areas of the country saw a slight improvement in economic activity in the spring, but those gains were tempered by concerns over rising trade tensions, the Federal Reserve said Wednesday. In its latest report on economic conditions nationwide, the Fed said businesses reported solid hiring in a number of sectors ...

Business 06/04/19, 19:23

The Dow Jones Industrial Average jumped more than 500 points Tuesday as investors welcomed signs that the Federal Reserve may cut interest rates to help buttress U.S. economic growth in the face of escalating trade wars. Optimism about a resolution to one of those trade disputes and a rebound in technology ...

Business 06/04/19, 09:41

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. economic expansion if it decides that would be necessary. Powell's comments came at a conference in Chicago on how the central bank can make its interest rate policy ...

Business 05/20/19, 19:49

Federal Reserve Chairman Jerome Powell said Monday that the central bank is closely monitoring a sharp rise in corporate debt but currently does not see the types of threats that triggered the 2008 financial crisis. In remarks to a banking conference in Fernandina Beach, Florida, Powell said views about risker corporate ...

Business 05/09/19, 11:03

Federal Reserve Chairman Jerome Powell said Thursday the United States needs to find ways to address a decades-long slowdown in income growth and upward economic mobility.In a speech at a Fed research conference, Powell said that incomes have grown more slowly for middle-class families since the 1970s than for higher-income ...

Business 05/02/19, 01:52

Asian stocks were mixed on Thursday after the U.S. Federal Reserve kept its benchmark interest rate intact and steered clear of suggesting that a cut was possible this year. Trading was light with markets in Japan and mainland China closed.Hong Kong's Hang Seng rose 0.6% to 29,882.20 while Australia's S&P ...

Business 05/01/19, 04:50

The Latest on the Federal Reserve's monetary policy meeting (all times local): 4:45 a.m. Stock markets are edging higher ahead of a Federal Reserve policy meeting at which the central bank is not expected to change its interest rates but could give clues on their future direction. Futures for the Dow and the ...

Business 04/29/19, 10:26

The Federal Reserve this week will likely reinforce a theme that has cheered consumers and investors since the start of the year: No interest rates hikes are likely anytime soon. The prospect of continued low rates is keeping borrowing costs low for households and companies. It is helping drive record highs ...