Economy Mar 04 Chairman Powell says higher inflation is temporary, fed will be ‘patient’ Federal Reserve Chair Jerome Powell said Thursday that inflation will likely pick up in the coming months but the increase will be temporary, and won’t be enough for the Fed to alter its low-interest rate policies.
Economy Feb 25 Biden directive expands jobless aid to more unemployed Those eligible include people who have turned down job offers because they believed the employers weren't providing sufficient protection from the coronavirus.
Economy Feb 25 U.S. jobless claims still high at 730,000 but fewest in 3 months The number of Americans seeking unemployment benefits fell sharply last week in a sign that layoffs may have eased, though applications for aid remain at a historically high level.
Economy Feb 23 Fed Chair Powell says recovery incomplete, higher inflation unlikely Federal Reserve Chair Jerome Powell underscored the U.S. economy's ongoing weakness Tuesday in remarks that suggested that the Fed sees no need to alter its ultra-low interest rate policies anytime soon.
Economy Feb 19 Federal Reserve sees modest pickup in hiring this month The Federal Reserve says there’s evidence that hiring has picked up in recent weeks, though the job market remains badly damaged by the pandemic.
Economy Feb 18 U.S. jobless claims jump to 861,000 as layoffs stay high The number of Americans applying for unemployment aid rose last week to 861,000, evidence that layoffs remain painfully high despite a steady drop in the number of confirmed viral infections.
Economy Feb 12 Amid systemic inequality, U.S. salaries recover even as jobs haven’t The turnaround in total wages underscores how disproportionately America's job losses have afflicted workers in lower-income occupations.
Economy Feb 11 U.S. jobless claims fall slightly to 793,000 with layoffs high The number of Americans seeking unemployment benefits fell slightly last week to 793,000, evidence that job cuts remain high despite a substantial decline in new viral infections.
Economy Feb 10 Powell stresses commitment to full employment and low rates Powell spent little time on inflation in prepared remarks for a webcast to the Economic Club of New York.
Economy Feb 05 A meager gain in U.S. jobs last month highlights virus’ damage The increase of just 49,000 positions in January made scarcely any dent in the nearly 10 million jobs that remain lost since the virus intensified nearly a year ago.