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By Martin Crutsinger, Associated Press
The quarter-point hike, to a range of 2.25 percent to 2.5 percent, lifted the Fed's benchmark rate to its highest point since 2008. The increase will mean higher borrowing costs for many consumers and businesses.
Federal Reserve Chairman Jerome Powell cast a bright picture of the U.S. economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year to assess the impact of its credit tightening.
President Trump said he doesn't speak with Chairman Jerome Powell because of the Fed's political independence but said, "I'm not happy with what he's doing because it's going too fast" in raising rates at a time when inflation has remained…
By Judy Woodruff
Federal Reserve chairman Jay Powell discusses the state of the economy, bigger changes in the job market and why wages haven’t caught up with other economic trends in a conversation with Judy Woodruff. At the Atlantic Ideas Festival, Powell also…
By Joshua Barajas, Gretchen Frazee
The Federal Reserve chair's comments came as part of a conversation with PBS NewsHour anchor and managing editor Judy Woodruff during The Atlantic Festival in Washington, D.C.
By Christopher Rugaber, Associated Press
The leaders of the central banks of four major economies expressed alarm Wednesday that multiple trade conflicts are threatening to slow global growth.
These steps show confidence that the economy remains sturdy nearly nine years after the Great Recession ended, officials said.
Federal Reserve officials at their January meeting believed that a brightening global economic picture and the effects of recently passed tax cuts had raised the prospect for solid growth and continued interest rate increases.
Powell will succeed Janet Yellen, the first woman to lead the Fed, when her term ends Feb. 3.
Jerome Powell's confirmation hearing is scheduled to begin at 9:45 a.m. ET today. Watch the hearing here.
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