Powell signals Federal Reserve will keep aiding economy with bond buying
Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance.
WATCH: Fed chair Jerome Powell discusses economy
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.
Federal Reserve keeps interest rate at record low
The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months.
WATCH: Fed signals it will likely keep rates near zero for months
Fed chair Jerome Powell suggested that given the depth of the U.S. economic catastrophe, with perhaps 30 million people having lost jobs in the past six weeks, it will “probably will take some time for us to get back to…
Ultra-low rates have helped push up stock markets to record highs, as vanishing returns on safe assets lead to a search for returns elsewhere.
The central bank was widely expected to leave its short-term interest rate unchanged. The Fed lowered rates three times last year.
As the year comes to a close, we look back at the past decade in the American economy -- the first without a recession since record-keeping began in the 1950s. While unemployment remains at a historic low, wage growth has…
Through it all, the U.S. economy and consumers' appetite for spending remained resilient, supporting the market's record-shattering, year-end rally.
In our news wrap Wednesday, the House opened debate on a Democratic bill to lower prescription drug costs through government negotiations. House Speaker Nancy Pelosi appealed for bipartisan support, but Sen. Mitch McConnell said he won’t bring the bill up…
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