Federal Reserve meeting minutes show concern about steep economic downturn
Fed officials noted that the crisis was not falling equally on all Americans. The minutes say officials discussed how the sharp rise in joblessness had been especially severe for lower-wage workers, women, African Americans, and Hispanics.
WATCH: Powell discusses ways to rebuild the workplace amid COVID-19
The chairman's remarks to a House committee came on the second day of his semi-annual testimony to Congress on monetary policy.
WATCH: Powell warns that long downturn would mean severe damage
Federal Reserve Chair Jerome Powell will present the semi-annual monetary policy report June 16 before the Senate Committee on Banking, Housing, and Urban Affairs.
Federal Reserve to keep providing aid and sees no rate hike through 2022
The Federal Reserve says it will keep buying bonds to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed's policymakers foresee no rate hike through 2022.
Chairman Jerome Powell faces a challenging task Wednesday: He'll need to make a convincing case that the Federal Reserve is committed to using all its tools to bolster an economy gripped by recession — without making any policy changes to…
Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch of a program lending directly to private companies.
Treasury Secretary Steve Mnuchin and Federal Reserve Chair Jerome Powell will testify Tuesday at 10 a.m. before the Senate Banking, Housing and Urban Affairs Committee.
The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a severe downturn resulting from the widespread shutdown of the U.S. economy. But Powell cautioned that widespread bankruptcies among small businesses and extended…
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…
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