Dec 01 WATCH: Mnuchin defends shut down of Fed emergency loan programs By Martin Crutsinger, Associated Press Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging. Continue reading
Nov 30 Powell: Economic recovery ‘unlikely until people are confident’ in safety from virus By Martin Crutsinger, Associated Press In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases both in the United States and abroad was "concerning and could prove challenging for the next few months. Continue reading
Nov 17 Federal Reserve Chair Jerome Powell says surge in virus cases threatens U.S. economy By Christopher Rugaber, Associated Press Powell said the threat also means Congress and the White House should provide more stimulus spending to support the unemployed, states and cities, and small businesses, and to keep the economy afloat. Continue reading
Oct 06 Stocks drop after President Trump calls off stimulus talks By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press Stocks dropped on Wall Street Tuesday after President Donald Trump ordered a stop to negotiations with Democrats over another round of aid for the economy until after the election. Continue reading
Oct 06 Fed Chair Powell says lack of further stimulus ‘would lead to a weak recovery’ By Christopher Rugaber, Associated Press Strong financial support from the government and the Federal Reserve have spurred a solid recovery from the pandemic recession, but the rebound may falter without further aid, Fed Chair Jerome Powell warned Tuesday. Continue reading
Sep 22 WATCH: Powell and Mnuchin voice optimism about economy but back more aid By Martin Crutsinger, Associated Press Both officials stressed that major sectors of the economy were still suffering. Continue reading
Sep 16 WATCH: U.S. Federal Reserve adjusts inflation target to keep interest rates low By Associated Press The Federal Reserve adjusted its inflation target to seek price increases above 2 percent annually, a move that will likely keep interest rates low for years to come. Continue reading
Aug 26 Powell edges toward loosening the Fed’s stance on inflation By Martin Crutsinger, Associated Press In a sign of how vastly the U.S. economic landscape has changed, Federal Reserve Chairman Jerome Powell may be on the verge of sending a new message this week: That the Fed plans to leave its key rate pinned near… Continue reading
Jul 29 Fed wrestles with its next moves as virus stalls U.S. economy By Associated Press The central bank is working toward providing more specific guidance on the conditions it would need to see before considering raising its benchmark short-term interest rate, which is now pegged near zero. Continue reading
Jul 01 Federal Reserve meeting minutes show concern about steep economic downturn By Martin Crutsinger, Associated Press 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. Continue reading