Nov 30 Powell: Economic recovery ‘unlikely until people are confident’ in safety from virus By Martin Crutsinger, Associated Press 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. Continue reading
Nov 20 McConnell proposes shifting unspent small business funds to COVID-19 aid By Associated Press 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. Continue reading
Nov 19 Mnuchin rejects renewal of some Federal Reserve emergency loan programs By Martin Crutsinger, Christopher Rugaber, Associated Press 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. Continue reading
Nov 05 Federal Reserve keeps interest rate at record low By Martin Crutsinger, Associated Press The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months. Continue reading
Oct 06 Fed Chair Powell says lack of further stimulus ‘would lead to a weak recovery’ By Christopher Rugaber, Associated Press 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. Continue reading
Sep 16 Federal Reserve sees interest rates near zero, at least through 2023 By Christopher Rugaber, Associated Press 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%. Continue reading
Sep 16 WATCH: U.S. Federal Reserve adjusts inflation target to keep interest rates low By Associated Press 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. Continue reading
Aug 26 Powell edges toward loosening the Fed’s stance on inflation By Martin Crutsinger, Associated Press 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… Continue reading
Aug 18 Coin shortage hits retailers, laundromats and even the tooth fairy By Sarah Skidmore Sell, Associated Press The national coin shortage has been an unusual side effect of the pandemic. Among its victims: retailers, laundromats and even the tooth fairy. Continue reading
Jul 29 Fed wrestles with its next moves as virus stalls U.S. economy By Associated Press 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. Continue reading