Jun 21 WATCH: Fed Chair Powell testifies on inflation and interest rates before House committee By Christopher Rugaber, Associated Press “Inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go,” Powell said on the first of two days of semi-annual testimony on Capitol Hill. Continue reading
Jun 14 Fed keeps rates unchanged for first time in 15 months but signals 2 more potential hikes this year By Christopher Rugaber, Associated Press The Fed's move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it's engineered have made some progress in taming inflation. Continue reading
Jun 14 WATCH: Fed Chair Powell announces interest rates will remain unchanged as inflation eases By Christopher Rugaber, Associated Press The Fed’s move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation. Continue reading
May 18 As high inflation continues, split on strategy among Federal Reserve officials By Christopher Rugaber, Associated Press The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed's policies cloudier than at any time since it unleashed a streak of 10 straight… Continue reading
May 03 Watch 5:17 Fed raises rates again but signals a future pause amid banking sector uncertainty By Amna Nawaz, Karina Cuevas The Federal Reserve raised interest rates again, its tenth consecutive hike, this time by a quarter of a point. But Chairman Jay Powell also suggested the Fed may pause future hikes if the economy continues to cool. He cited the… Continue watching
May 03 Fed raises interest rate again but hints it may pause due to bank turmoil By Christopher Rugaber, Associated Press The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. Continue reading
May 03 WATCH: Federal Reserve Chair Jerome Powell speaks on latest interest rate hike By Christopher Rugaber, Associated Press The Fed's efforts have only partly succeeded in taming the worst inflation bout in four decades, and the surge in rates has contributed to the collapse of three large banks and turmoil in the banking industry. Continue reading
Apr 27 Federal Reserve Chair Jerome Powell was tricked by fake call from Russia pranksters By Christopher S. Rugaber, Associated Press Federal Reserve Chair Jerome Powell was tricked into an extended phone call in January with Russian pranksters posing as Ukrainian President Volodymyr Zelenskyy, during which Powell appeared to discuss the impact of interest rate hikes. Continue reading
Mar 22 WATCH: Federal Reserve Chair Powell gives update after raising interest rate amid banking turmoil By Christopher Rugaber, Associated Press The Federal Reserve is grappling with a hazier economic picture, clouded by turmoil in the banking industry and still-high inflation, just as it meets to decide whether to keep raising interest rates or declare a pause. Continue reading
Mar 14 U.S. inflation eases but stays high, putting the Federal Reserve in a tough spot By Christopher Rugaber, Associated Press U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. Continue reading