Mar 21 Powell says the Federal Reserve will hike further and faster if necessary By Christopher Rugaber, Associated Press His remarks caused a sharp drop in the stock market with its implication that potentially much higher rates could be on the way for mortgages, auto loans, credit cards and other consumer and business borrowing. Continue reading
Mar 16 Watch 5:26 Federal Reserve raises interest rates in effort to tame inflation By John Yang, Courtney Norris In addition to Wednesday's hike in a key interest rate, the Federal Reserve also signaled it expects to continue to raise rates through the year. Nick Timiraos, chief economics correspondent for The Wall Street Journal and author of a new… Continue watching
Mar 15 Federal Reserve pick Sarah Bloom Raskin withdraws nomination amid opposition By Zeke Miller, Christopher Rugaber, Associated Press Republicans argued that Raskin would use the Fed's regulatory authority to discourage banks from lending to oil and gas companies. Continue reading
Mar 15 Watch 6:29 What the withdrawal of President Biden’s Federal Reserve nominee means for his agenda By Lisa Desjardins, Ian Couzens, Ebony Joseph Sarah Bloom Raskin has withdrawn her name from consideration to the Federal Reserve Board on Tuesday after a stalemate in the Senate over her nomination. Fed policymakers are expected to raise interest rates this week, for the first time in… Continue watching
Mar 09 Biden signs order for government oversight of cryptocurrency By Fatima Hussein, Associated Press The executive order had been widely anticipated by the finance industry and others who have compared the cryptocurrency market with the Wild West. Continue reading
Mar 02 WATCH: Powell expects a quarter-point Fed Reserve rate hike this month By Associated Press Powell will tell a House committee Wednesday it will “need to be nimble” in responding to unexpected changes resulting from the war or the sanctions that the United States and Europe have imposed in response. Continue reading
Feb 10 Inflation hits 40 year high, reinforcing Fed’s decision to raise interest rates By Christopher Rugaber, Associated Press Inflation soared over the past year at its highest rate in four decades, hammering America's consumers, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates across the economy. Continue reading
Jan 26 Watch 8:43 The Fed aims to clamp down on inflation with rate hikes. Will it work? By PBS NewsHour The Federal Reserve is shifting its approach to the economy and monetary policy. It's a major change after holding interest rates at near zero levels. Given the pandemic, it's not without its own risks. But the Fed chairman said the… Continue watching
Jan 26 WATCH: Federal Reserve plans to raise rates as soon as March to cool down inflation By Christopher Rugaber, Associated Press The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation. Continue reading
Jan 24 Federal Reserve expected to raise interest rates in fight against inflation By Christopher Rugaber, Associated Press With inflation punishing consumers and threatening the economy, the Federal Reserve will likely signal its intent this week to begin raising interest rates in March for the first time in three years. Continue reading