Tag Archives: Jerome Powell

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, …