Jun 07 WATCH: Treasury Secretary Yellen testifies on President Biden’s budget in Senate hearing By Fatima Hussein, Associated Press Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell "could have used a better word" than transitory when describing the expected run of inflation in the U.S. economy. Continue reading
Jun 03 WATCH: Biden hails ‘historically robust’ May jobs report as hiring remains strong By Christopher Rugaber, Associated Press President Joe Biden hailed the May jobs report numbers Friday, calling them "historically robust" and saying they are one of the signs of a "healthy economy."… Continue reading
May 25 Fed officials signal rates may head to ‘restrictive’ levels to stabilize economy By Christopher Rugaber, Associated Press Federal Reserve officials agreed when they met earlier this month that they might have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which has reached a four-decade high. Continue reading
May 12 Senate confirms Jerome Powell for second term as Fed Chair By Christopher Rugaber, Associated Press The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell's high-stakes efforts to curb the highest inflation in four decades. Continue reading
May 11 U.S. prices see smallest rise in eight months, spurring hopes that inflation may be peaking By Christopher Rugaber, Associated Press Inflation slowed in April after months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. Continue reading
May 05 Boards of U.S. companies are still disproportionately white, despite greater overall diversity By Stan Choe, Associated Press Following a pressure campaign from outsiders, more companies are disclosing the racial breakdowns of their boards of directors. Continue reading
May 04 Watch 4:26 Federal Reserve implements largest interest rate hike since 2000 By Paul Solman, Courtney Norris, Ryan Connelly Holmes, Dorothy Hastings The Federal Reserve raised interest rates again Wednesday in an effort to stamp down surging inflation. It increased rates by a half-percentage point, a move that will affect the pocketbooks of millions of Americans. Fed Chair Jerome Powell said more… Continue watching
Apr 28 Watch 6:15 As the U.S. economy slows down, fears of a possible recession grow By Karina Cuevas The U.S. economy slowed down over the first three months of the year, the first time it has contracted since the pandemic brought it to a screeching halt. There have been other troubling signs, most notably inflation and concerns over… Continue watching
Apr 28 U.S. economy shrinks first time in two years but consumer and business spending strong By Christopher Rugaber, Associated Press The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4 percent annual rate, but consumers and businesses kept spending in a sign of underlying resilience. Continue reading
Apr 15 Biden nominates Michael Barr as Federal Reserve vice chair By Josh Boak, Paul Wiseman, Associated Press President Joe Biden says he plans to nominate Michael Barr to be the Federal Reserve's vice chairman of supervision. Continue reading