Tag Archives: Federal Reserve

Kenny Stancil Sen. Elizabeth Warren this weekend called on federal officials to investigate the causes of recent bank failures and urged President Joe Biden to fire Federal Reserve Chair Jerome Powell, whom she has criticized for intensifying financial deregulation and imposing job- and wage-destroying interest rate hikes. Asked on Sunday …

Casey Quinlan, Florida Phoenix The Federal Reserve has announced that in its continuing efforts to tamp down inflation, it would raise interest rates yet again by another three-quarters of a point to a target range of 3.75 to 4%. Federal Reserve Chair Jerome Powell said during a press conference following …

Christopher Decker, University of Nebraska Omaha The U.S. economy added more jobs than expected in June, signaling the labor market remains strong even as the Federal Reserve tries to weaken it to tame inflation. The July 8, 2022, jobs report also showed the unemployment rate remained at a 70-year low …

Veronika Dolar, SUNY Old Westbury Inflation surged at the fastest pace in over 40 years in May 2022, pushing the Federal Reserve toward a more aggressive pace of interest rate increases to slow it down. While there’s concern it could cause unemployment to spike, a little-known economics indicator suggests the …

The United States Senate has confirmed the nomination of Jerome Powell as the chair of the board of governors of the Federal Reserve System until 2026. In an 80–19 landslide vote on the Senate floor on Thursday, U.S. lawmakers confirmed Powell as chair of the Federal Reserve, a position he …

Dr. Lisa Cook made history after the Senate voted along party lines Tuesday to approve her nomination to the Federal Reserve, where she will be the first Black woman to serve on the Board of Governors. The vote was 51-50, with Vice President Kamala Harris breaking a tie. Senate Democrats lauded Cook’s credentials, and Republicans cast doubt about her …

The Federal Reserve raised interest rates by half a percentage point on Wednesday — the biggest increase to short-term borrowing costs in more than two decades — and alerted consumers that more hikes of this size are yet to come, marking the U.S. central bank’s most aggressive moves yet to …

After weeks of delays due in part to Republican obstructionism, the United States Senate has confirmed the nomination of Lael Brainard, a member of the Federal Reserve’s board of governors, as the next vice chair of the central bank. In a 52–43 vote on the Senate floor on Tuesday, lawmakers …

The Federal Reserve announced that it is raising interest rates for the first time in three years to help bring the skyrocketing inflation under control. “With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to its 2 percent objective and the labor market to remain …

The Federal Reserve has barred senior officials from a number of investment activities, particularly those involving individual stocks, bonds, cryptocurrencies and commodities. The Federal Open Markets Committee announced the new rules on February 18. They specifically bar covered officials: “[F]rom purchasing individual stocks or sector funds; holding investments in individual …

U.S. Federal Reserve officials signaled last week that the central bank could start raising interest rates in March as U.S. annual inflation surged to an almost 40-year high in December. “Inflation is too high, and working people around the country are concerned about how far their paychecks will go,” Fed …

President Joe Biden on Friday announced his nomination of three Federal Reserve officials as he seeks to reshape the central bank amid bumpy economic recovery. Biden nominated Sarah Bloom Raskin to serve as Vice-Chair for Supervision of the Board of Governors of the Federal Reserve System, and nominated Lisa Cook …

The unemployment rate in the United States fell to 5.8% as employers added 559,000 jobs to the economy during the month of May. It’s the lowest jobless rate since March of 2020, when unemployment was 4.4%. “It’s great to see a pickup to job growth, but it would have been …

President-elect Joe Biden may nominate Janet Yellen to serve as Treasury secretary, according to reports from The Wall Street Journal. Yellen, a former Federal Reserve chairwoman will be the first woman to serve as head of the Department of Treasury. In 2014, Yellen became the first woman to head the …