WATCH: U.S. Federal Reserve adjusts inflation target to keep interest rates low
The Federal Reserve adjusted its inflation target to seek price increases above 2 percent annually, a move that will likely keep interest rates low for years to come.
Powell edges toward loosening the Fed’s stance on inflation
In a sign of how vastly the U.S. economic landscape has changed, Federal Reserve Chairman Jerome Powell may be on the verge of sending a new message this week: That the Fed plans to leave its key rate pinned near…
Coin shortage hits retailers, laundromats and even the tooth fairy
The national coin shortage has been an unusual side effect of the pandemic. Among its victims: retailers, laundromats and even the tooth fairy.
Fed wrestles with its next moves as virus stalls U.S. economy
The central bank is working toward providing more specific guidance on the conditions it would need to see before considering raising its benchmark short-term interest rate, which is now pegged near zero.
Fed officials noted that the crisis was not falling equally on all Americans. The minutes say officials discussed how the sharp rise in joblessness had been especially severe for lower-wage workers, women, African Americans, and Hispanics.
The chairman's remarks to a House committee came on the second day of his semi-annual testimony to Congress on monetary policy.
In our news wrap Tuesday, police in Albuquerque, New Mexico, have arrested a man after a shooting during a protest Monday night. It happened as demonstrators tried to tear down a Spanish conquistador’s statue and confronted armed men who were…
In our news wrap Wednesday, some 1,250 former Justice Department employees are calling to investigate Attorney General William Barr for his decision to forcibly remove peaceful protesters from near the White House last week. Their request was made Wednesday to…
The Federal Reserve says it will keep buying bonds to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed's policymakers foresee no rate hike through 2022.
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