Apr 28 WATCH: Powell says he plans to stay at Fed after chair term ends amid legal attacks by the Trump administration By Christopher Rugaber, Associated Press “I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Jerome Powell said in fairly candid remarks at a press conference after the Fed announced its decision to keep its… Continue reading
Apr 21 Watch 8:58 Fed nominee Warsh questioned on independence from Trump and personal wealth By Amna Nawaz, Jackson Hudgins, Azhar Merchant President Trump’s pick to lead the Federal Reserve, Kevin Warsh, was on Capitol Hill facing a slew of lawmaker questions on his monetary policy and independence from Trump. But the president’s pressure campaign against Jerome Powell threatens to freeze Warsh’s… Continue watching
Apr 21 WATCH: Kevin Warsh testifies in Senate Banking confirmation hearing for Fed chair By Christopher Rugaber, Associated Press President Donald Trump’s nominee to chair the Federal Reserve said Tuesday that he never promised the White House that he would cut interest rates, even as the president renewed his calls for the central bank to do so. Continue reading
Apr 15 As Trump threatened to fire Powell, federal prosecutors showed up unannounced at the Federal Reserve building By Paul Wiseman, Michael Kunzelman, Associated Press Two prosecutors and an investigator from U.S. Attorney Jeanine Pirro’s office were turned away on Tuesday by a building contractor and referred to Fed attorneys, according to someone familiar with the visit. Continue reading
Apr 14 U.S. wholesale prices surged 4% last month during the Iran war By Paul Wiseman, Associated Press The surge in prices complicates the work of the inflation fighters at the Federal Reserve, who have faced intense pressure from President Donald Trump to lower their benchmark interest rate. But some Fed policymakers are inclined to raise rates instead,… Continue reading
Apr 10 Soaring gas prices leads to biggest monthly inflation spike in four years in March By Christopher Rugaber, Associated Press It’s the first read on inflation to capture the effects of the Iran war. Continue reading
Apr 06 Top Fed official sees potential rate hike amid higher gas prices, inflation concerns By Christopher Rugaber, Associated Press A top Federal Reserve official said Monday that an interest rate hike could be appropriate if inflation remains persistently above the central bank's 2% target, the latest sign that some policymakers are moving away from a bias toward reducing borrowing costs. Continue reading
Mar 30 WATCH: Fed Chair Powell addresses energy price spikes, challenging job market in Harvard conversation By Michael Casey, Associated Press Federal Reserve Chair Jerome Powell said Monday that it is important to closely monitor inflation amid a spike in energy prices from the Iran war. Continue reading
Mar 24 Chances of Fed cutting interest rates fade as inflation worsens By Christopher Rugaber, Associated Press With inflation measures likely to rise in the coming months, the prospect of interest rate cuts this year by the Federal Reserve is fading. Continue reading
Mar 19 Justice Department probe of Powell could backfire on Trump and keep Fed chair in office By Christopher Rugaber, Associated Press President Donald Trump has for months wanted to remove Jerome Powell as chair of the Federal Reserve. But instead, an investigation by one of his own officials could end up extending Powell's time at the top of the central bank even after his term… Continue reading