Latest Central banking News

FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. (AP Photo/Andrew Harnik, File)

AP source: Biden taps ex-Fed chair Yellen to lead treasury

Nov. 23, 2020 5:48 PM EST

WASHINGTON (AP) — President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies at a perilous time, according to a person familiar with the transition plans. Yellen, who is widely...

AP source: Biden taps ex-Federal Reserve Chair Janet Yellen as treasury secretary; she'd be 1st woman to lead department

Nov. 23, 2020 3:41 PM EST
WASHINGTON (AP) — AP source: Biden taps ex-Federal Reserve Chair Janet Yellen as treasury secretary; she'd be 1st woman to lead department.
FILE - In this Sept. 24, 2020 file photo, Federal Reserve Chair Jerome Powell, right, and Treasury Secretary Steve Mnuchin testify during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, in Washington. Mnuchin on Friday, Nov. 20 denied that he is trying to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said his decision was based on the fact that the programs were not being heavily utilized and the money could be better used by being re-allocated by Congress to provide support in other areas such as further grants to small businesses and extended unemployment assistance.  (Toni L. Sandys/The Washington Post via AP, Pool)

Mnuchin denies trying to limit Biden's economic options

Nov. 20, 2020 6:19 PM EST

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin denied on Friday that he is attempting to limit President-elect Joe Biden's options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said the programs were not being heavily...

FILE - In this April 23, 2020 file photo, Lebanese riot police stand guard in front the central bank building, where the anti-government protesters protest against the Lebanese central bank's governor Riad Salameh and the deepening financial crisis, in Beirut, Lebanon. A New-York-based company that was contracted by Lebanon's government to conduct a forensic audit of the country's central bank has decided to pull out of the deal because it was not able to acquire needed information and documents, Lebanese outgoing finance minister said Friday, Nov. 20, 2020. (AP Photo/Hussein Malla, File)

NY-based company pulls out of Lebanon bank's forensic audit

Nov. 20, 2020 11:24 AM EST

BEIRUT (AP) — A New-York-based company contracted by the Lebanese government to conduct a forensic audit of the country’s central bank has decided to pull out of the deal because it was not able to acquire requested information and documents, Lebanon's outgoing finance minister said Friday. The...

FILE - In this Monday, Sept. 21, 2020 file photo, Treasury Secretary Steve Mnuchin speaks during a news conference to announce the Trump administration's restoration of sanctions on Iran at the U.S. State Department in Washington. Treasury Secretary Steven Mnuchin said Thursday, Nov. 19, 2020 he will not to extend several emergency loan programs set up with the Federal Reserve to support the economy in the midst of the coronavirus pandemic.(AP Photo/Patrick Semansky, File)

Mnuchin rejects renewal of some Fed emergency loan programs

Nov. 19, 2020 7:33 PM EST

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Thursday he will not extend several emergency loan programs set up with the Federal Reserve, an action that could hamper the ability of the incoming Biden administration to gain important economic support from the central bank to deal with the...

President-elect Joe Biden, accompanied by Vice President-elect Kamala Harris, speaks at The Queen theater, Thursday, Nov. 19, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)

Biden says he's decided on treasury secretary nomination

Nov. 19, 2020 7:08 PM EST

WASHINGTON (AP) — President-elect Joe Biden said Thursday that he has decided whom to nominate as his secretary of the Treasury Department. Biden said that the announcement will come just before or after Thanksgiving and that “you’ll find it is someone who I think will be accepted by all...

Turkish central bank hikes rates to support currency

Nov. 19, 2020 7:03 AM EST

ANKARA, Turkey (AP) — Turkey’s central bank raised its benchmark interest rate on Thursday, when it held its first meeting under its new chief, in a bid to tame inflation and to prop up the struggling currency. The bank said it was raising the one-week repo rate by 4.75 percentage points to 15%. The...

FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. President Donald Trump's controversial nominee to the Federal Reserve is facing a razor-close vote in Congress. The Senate is voting Tuesday on the nomination of Judy Shelton to join the Federal Reserve's powerful board of governors. Shelton is an unusually caustic critic of the Fed and is opposed by three Republican senators. Expected absences from two other Republicans could block her from advancing in Tuesday’s vote.  (AP Photo/J. Scott Applewhite, File)

Controversial Fed nominee Shelton stalls in Senate test vote

Nov. 18, 2020 12:05 PM EST

WASHINGTON (AP) — The nomination of Judy Shelton, President Donald Trump's controversial pick for the Federal Reserve, is stalled in the Senate after Vice President-elect Kamala Harris returned to the chamber to cast a key vote in a tally Tuesday. Two key Republicans were absent because of COVID-related...

Controversial Federal Reserve pick Judy Shelton fails to advance in key Senate test vote; future of nomination uncertain

Nov. 17, 2020 3:37 PM EST
WASHINGTON (AP) — Controversial Federal Reserve pick Judy Shelton fails to advance in key Senate test vote; future of nomination uncertain.
FILE- In this June 14, 2018, file photo Federal Reserve Board Governor Lael Brainard participates in an open meeting in Washington. Brainard, a Federal Reserve official widely considered a front-runner to be tapped as President-elect Joe Biden's Treasury Secretary, is urging universities and government agencies to make the field of economics more inclusive. Brainard, a member of the Federal Reserve’s board of governors, noted Tuesday, Nov. 17, 2020, that the economics field is less diverse than other professions, such as law and medicine.   (AP Photo/Cliff Owen, File)

Fed's Brainard urges greater diversity in field of economics

Nov. 17, 2020 3:36 PM EST

WASHINGTON (AP) — A Federal Reserve official widely considered a front-runner to be tapped as President-elect Joe Biden's Treasury Secretary is urging universities and government agencies to make the field of economics more inclusive. Lael Brainard, a member of the Federal Reserve’s board of...