Federal reserve

WATCH: Yellen, Powell say more needed to promote pandemic recovery

By Martin Crutsinger, Associated Press

The two officials struck upbeat notes on the future of the economy in their prepared testimony Tuesday before the House Financial Services Committee while cautioning that the economy still needs help.

Chairman Powell says higher inflation is temporary, fed will be 'patient'

By Christopher Rugaber, Associated Press

Federal Reserve Chair Jerome Powell said Thursday that inflation will likely pick up in the coming months but the increase will be temporary, and won’t be enough for the Fed to alter its low-interest rate policies.

Chairman Powell says Federal Reserve is in no hurry to raise interest rates

By Martin Crutsinger, Associated Press

Powell also warned Wednesday that many who had worked in industries hardest hit by the pandemic and ensuing recession will likely need to find different jobs.

Federal Reserve sees modest pickup in hiring this month

By Christopher Rugaber, Associated Press

The Federal Reserve says there’s evidence that hiring has picked up in recent weeks, though the job market remains badly damaged by the pandemic.

Powell stresses commitment to full employment and low rates

By Christopher Rugaber, Associated Press

Powell spent little time on inflation in prepared remarks for a webcast to the Economic Club of New York.

WATCH: Fed chair Jerome Powell holds press conference on economy

By Associated Press

The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic.

WATCH: Fed chair Jerome Powell discusses economy

By Christopher Rugaber, Martin Crutsinger, Associated Press

The Federal Reserve said it will keep buying government bonds until the economy makes "substantial" progress — a step intended to reassure financial markets and keep long-term borrowing rates low indefinitely.

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.

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.

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.