Latest Lael Brainard News

How a central banker’s low-rate shift showed the way for Fed

Nov. 29, 2019 11:17 AM EST

RICHMOND, Virginia (AP) — In mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned. Months earlier, with Bullard’s support, the Fed had raised rates for the first time in seven years. Panicky financial...

Fed finds resilient financial system despite high debt

Nov. 15, 2019 5:54 PM EST

WASHINGTON (AP) — The Federal Reserve said Friday that corporate debt remains at historically high levels but overall the U.S. financial system is resilient, a view in sharp contrast to the problems that led to the 2008 financial crisis. In its twice-yearly “Financial Stability Report,” the...

Text of the Fed's statement after its meeting Wednesday

Oct. 30, 2019 2:14 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in September indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been...

Zuckerberg defends Facebook's currency plans before Congress

Oct. 23, 2019 7:06 PM EDT

WASHINGTON (AP) — Facebook CEO Mark Zuckerberg endured hours of prickly questioning from lawmakers Wednesday as he defended the company's new globally ambitious project to create a digital currency while also dealing with widening scrutiny from U.S. regulators. Representatives also grilled Zuckerberg on...

Facebook says Libra won't launch without US approval

Oct. 22, 2019 5:25 PM EDT

SAN FRANCISCO (AP) — Facebook CEO Mark Zuckerberg aims to reassure Congress on Wednesday that his company won't try to evade financial regulators as it prepares its planned digital currency Libra. In prepared remarks released Tuesday ahead of a hearing before the House Financial Services Committee,...