May 31 Watch 6:43 Biden meets with Fed chair in push to address record inflation President Biden called in the head of the Federal Reserve Tuesday to talk about the worst inflation in 40 years. But he pledged to respect the central bank's independence. The president met with Jerome Powell, who recently won senate confirmation… Continue watching
May 31 WATCH: Biden meets with Federal Reserve Chair Powell amid inflation worries By Josh Boak, Christopher Rugaber, Zeke Miller, Associated Press Biden hoped the meeting on Tuesday would demonstrate his concern to voters, though he insisted anew the White House will not interfere with the independent central bank's work. Continue reading
May 12 Senate confirms Jerome Powell for second term as Fed Chair By Christopher Rugaber, Associated Press The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell's high-stakes efforts to curb the highest inflation in four decades. Continue reading
May 05 Stocks slump 3 percent as worries grow over higher interest rates By Damian J. Troise, Alex Veiga, Associated Press Stocks are slumping on Wall Street, erasing a rally from a day earlier, as markets assess the looming fallout from the Federal Reserve's stepped-up fight against inflation. Continue reading
May 04 Federal Reserve raises key rate by a half-point in bid to tame inflation By Christopher Rugaber, Associated Press The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point. Continue reading
May 04 WATCH: Federal Reserve Chair Jerome Powell gives update as Fed announces interest rate hike By Christopher Rugaber, Associated Press The Fed also announced that it will start reducing its huge $9 trillion balance sheet, made up mainly of Treasury and mortgage bonds. Reducing those holdings will have the effect of further raising loan costs throughout the economy. Continue reading
Apr 06 Federal Reserve signals more aggressive steps to fight inflation By Christopher Rugaber, Associated Press Federal Reserve officials are signaling that they will take a more aggressive approach to fighting high inflation in the coming months — actions that will make borrowing sharply more expensive for consumers and businesses. Continue reading
Mar 21 Powell says the Federal Reserve will hike further and faster if necessary By Christopher Rugaber, Associated Press His remarks caused a sharp drop in the stock market with its implication that potentially much higher rates could be on the way for mortgages, auto loans, credit cards and other consumer and business borrowing. Continue reading
Mar 16 Watch 5:26 Federal Reserve raises interest rates in effort to tame inflation By John Yang, Courtney Norris In addition to Wednesday's hike in a key interest rate, the Federal Reserve also signaled it expects to continue to raise rates through the year. Nick Timiraos, chief economics correspondent for The Wall Street Journal and author of a new… Continue watching
Mar 16 WATCH: Federal Reserve chair Powell gives update on federal interest rate policy By Christopher Rugaber, Associated Press The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year. Continue reading