Jan 20 Federal Reserve report on digital currency centers on banks By Christopher Rugaber, Associated Press The Federal Reserve released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers. Continue reading
Jan 12 Inflation jumps 7 percent, the biggest increase since 1982, as Americans increase spending By Christopher Rugaber, Associated Press Prices paid by U.S. consumer jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America's… Continue reading
Jan 11 WATCH: Federal Reserve chair Jerome Powell says inflation poses a major threat to job market By Christopher Rugaber, Associated Press Federal officials have forecast three increases in the their benchmark short-term rate this year, though some economists say they envision four rate hikes in 2022. Continue reading
Dec 31 Stocks notch big yearly gain despite ending 2021 on a weak note By Alex Veiga, Associated Press A wave of consumer demand fueled by the reopening of economies pumped up corporate profits more than expected in 2021, which helped keep investors in a buying mood. Continue reading
Dec 15 Fed will tighten credit faster and sees 3 rate hikes in 2022 amid inflationary pressure By Christopher Rugaber, Associated Press In an abrupt policy shift, the Fed announced Wednesday that it will shrink its monthly bond purchases at twice the pace it previously announced, likely ending them altogether in March. Continue reading
Dec 15 WATCH: Jerome Powell says Federal Reserve will tighten credit amid inflation surge By Christopher Rugaber, Associated Press With inflation surging and unemployment falling, the Federal Reserve said Wednesday that it will shrink its support for the economy more quickly and expects to raise interest rates three times next year. Continue reading
Nov 22 WATCH: Biden to re-nominate Powell as Fed chair, Brainard gets vice chair By Christopher Rugaber, Associated Press President Joe Biden announced he's nominating Jerome Powell for a second term as Federal Reserve chair, endorsing Powell's stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies helped bolster confidence and revitalize the… Continue reading
Oct 21 Federal Reserve imposes sweeping new limits on policymakers’ investments By Christopher Rugaber, Associated Press The Federal Reserve is imposing a sweeping new set of restrictions on the investments its officials can own, a response to questionable recent trades that forced two top Fed officials to resign. Continue reading
Sep 27 Boston Fed’s Eric Rosengren to retire early citing health reasons By Christopher Rugaber, Associated Press Rosengren's announcement also comes after investments by him and other Fed officials last year have raised questions about the Fed's ethics rules. Continue reading
Sep 22 WATCH: Under pressure, Powell says Federal Reserve to revamp its trading rules By Christopher Rugaber, Associated Press The Federal Reserve is expected this week to send its clearest signal yet that it will start reining in its ultra-low-interest rate policies later this year, the first step toward unwinding the extraordinary support it’s given the economy since the… Continue reading