Tag Archives: Jerome Powell

The Federal Reserve on Wednesday opted to leave its benchmark interest rate unchanged, defying persistent pressure from President Donald Trump and signaling renewed concern about inflation and economic uncertainty driven by tariffs. In a statement following its July policy meeting, the Fed said that while economic growth had moderated, inflation …

In a rare presidential visit to the Federal Reserve on Thursday, President Donald Trump publicly criticized the cost of the central bank’s ongoing renovations, calling the estimated $3.1 billion price tag “exorbitant” while donning a hard hat amid ongoing construction. The event highlighted Trump’s continued pressure on Fed Chair Jerome …

President Donald Trump said Wednesday it was “highly unlikely” he would fire Federal Reserve Chair Jerome Powell, appearing to reverse course less than a day after floating the idea with Republican lawmakers and sparking a temporary dip in the stock market. Speaking to reporters in the Oval Office, Trump said, …

Jimmy Williams The Federal Reserve reduced its benchmark interest rate on Wednesday, marking the first rate cut in over four years and lowering the key rate by 0.5%, to a range of 4.75% to 5%. This move follows a series of 11 rate hikes since March 2022 aimed at curbing …

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 …

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 …

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 …

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 …

President Joe Biden is nominating Jerome Powell to a second four-year term as Federal Reserve Chair, the White House said in a statement on Monday. Biden also said he would nominate Lael Brainard, the lone Democrat on the Fed’s Board of Governors and the person who had been considered a …

The number of Americans filing first-time claims for unemployment benefits fell to 360,000 last week, the lowest level since the coronavirus pandemic began, the Labor Department reported on Thursday. The reading was a decrease of 26,000 from the prior week’s revised level and the lowest level since March 14, 2020, …