Federal Reserve Chair Jerome Powell is on Capitol Hill for the first of 2 days of his semiannual monetary policy testimony and is scheduled to appear before the Senate Banking Committee on Thursday.
Fed
Posted inBusiness
Federal Reserve’s favored inflation gauge tumbles in November as prices continue to ease
Friday’s report from the Commerce Department showed that U.S. consumer prices slid 0.1% last month from October and rose 2.6% from November 2022.
advertisement
Posted inBusiness, Nation / World
Fed’s Powell notes inflation is easing but downplays discussion of interest rate cuts
Powell’s remarks Friday follow comments from a raft of Fed officials this week, with most of them signaling that the Fed can afford to keep its key rate steady in the coming months.
Posted inBusiness, Nation / World, News
Federal Reserve Chair hints at a pause in rate hikes when central bank meets in June
Powell said the central bank’s benchmark rate, which affects many consumer and business loans, is now high enough to restrain borrowing, spending, and economic growth.
Posted inBusiness
Key Fed official says he’s open to slowing hikes in December
Christopher Waller and some other Federal Reserve officials have suggested that the central bank will likely slow the pace of its interest rate hikes beginning in December.
Posted inBusiness, sj-web
Fed keeps interest rates unchanged
Adjustments to the Federal Funds Rate – 10 Years | Credio WASHINGTON — The Federal Reserve is keeping interest rates unchanged in light of an uncertain job market, while offering no specifics about when its next rate hike might occur. The Fed says in a statement after its latest policy meeting that the pace of […]
Posted inBusiness, sj-web
Fed raises interest rate to 0.5 percent
The Fed’s move to lift its key rate by a quarter-point to a range of 0.25 percent to 0.5 percent ends an extraordinary seven-year period of near-zero rates that began at the depths of the 2008 financial crisis. Consumers and businesses could now face modestly higher rates on some loans. The Fed’s action reflects its […]
Posted inMaine, sj-web
Federal Reserve Bank of Boston chief says Fed to consider ‘wide range’ of indicators when considering interest rate
BANGOR — Federal Reserve Bank of Boston President Eric Rosengren said Tuesday the central bank should link interest-rate guidance to the economy’s progress toward both sides of its mandate for full employment and stable prices. The Fed “could promise to keep short-term interest rates at very low levels until the economy is within one year […]
Posted inNation / World, sj-web
Fed act sends stocks soaring
WASHINGTON (AP) — The Federal Reserve on Wednesday sent its strongest signal of confidence in the U.S. economy since the Great Recession, deciding that the nation’s economic prospects are finally bright enough to withstand a slight pullback in stimulus spending. Yet the Fed also made clear that it will keep supporting an economy that remains […]
Posted inBusiness, sj-web
Yellen nominated to replace Bernanke at Fed
WASHINGTON (AP) — President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the nation’s central bank, the White House said Tuesday. Yellen would be the first woman to head the powerful Fed, taking over at a pivotal time for the economy and the banking industry. Both […]