Powell: Economic recovery ‘unlikely until people are confident’ in safety from virus
In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases both in the United States and abroad was "concerning and could prove challenging for the next few months.
McConnell proposes shifting unspent small business funds to COVID-19 aid
Senate Majority Leader Mitch McConnell is proposing that Congress funnel $455 billion of unspent small business lending funds toward a new COVID-19 aid package.
Mnuchin rejects renewal of some Federal Reserve emergency loan programs
The central bank said it "would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy.
Federal Reserve keeps interest rate at record low
The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months.
Strong financial support from the government and the Federal Reserve have spurred a solid recovery from the pandemic recession, but the rebound may falter without further aid, Fed Chair Jerome Powell warned Tuesday.
The Fed’s moves are occurring against the backdrop of an improving yet still weak economy, with hiring slowing and the unemployment rate at 8.4%.
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.
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…
The national coin shortage has been an unusual side effect of the pandemic. Among its victims: retailers, laundromats and even the tooth fairy.
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