Latest Monetary policy News

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic. The minutes of the June 9-10 discussions that were made public Wednesday, July 1, 2020, show officials grappling with economic disruptions that had already occurred. (AP Photo/Patrick Semansky, File)

Fed minutes show concerns about severity of downturn

Jul. 1, 2020 5:26 PM EDT

WASHINGTON (AP) — Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic, saying the drop in economic activity in the spring would likely be the steepest in the post-World War II period. The minutes of the June 9-10...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. The Federal Reserve's Main Street lending program is off to a slow start. Banks are showing a surprising lack of interest in the program, while businesses are having a hard time accessing it. (AP Photo/Patrick Semansky, File)

Fed's program for loaning to Main Street off to slow start

Jun. 30, 2020 12:05 AM EDT

WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. The Federal Reserve's Main Street lending program is off to a slow start. Banks are showing a surprising lack of interest in the program, while businesses are having a hard time accessing it. (AP Photo/Patrick Semansky, File)

Fed's program for loaning to Main Street off to slow start

Jun. 29, 2020 6:12 PM EDT

WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up...

FILE - In this March 3, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference in Washington. Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus.
“A full recovery is unlikely until people are confident that it is safe to re-engage in a broad range of activities,” Powell says in testimony he is scheduled to deliver Tuesday, June 30, 2020 in an appearance with Treasury Secretary Steven Mnuchin before the House Financial Services Committee. (AP Photo/Jacquelyn Martin, file)

Powell says US economy facing heightened uncertainty

Jun. 29, 2020 5:17 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. “A full recovery is...

In this undated photo provided by the Federal Reserve Bank of Richmond, Tom Barkin, president of the Federal Reserve Bank of Richmond,  poses for a portrait. (Federal Reserve Bank of Richmond via AP)

Richmond Fed chief: With outlook hazy, economy needs support

Jun. 28, 2020 10:20 AM EDT

WASHINGTON (AP) — As president of the Federal Reserve Bank of Richmond since 2018, Tom Barkin is a member of the Fed's powerful committee that sets interest rates. The committee has been engaged this year in an extraordinary drive to support the economy and the financial system through ultra-low rates and...

Builders work on ascaffolding in London, Wednesday, June 17, 2020. After the easing of lockdown during the COVID-19 pandemic, most construction companies have restarted their business but official figures show that the British economy shrank by a colossal 20.4% in April, the first full month that the country was in its lockdown. (AP Photo/Frank Augstein)

UK's recession 'less bad' than feared, Bank of England

Jun. 18, 2020 1:56 PM EDT

LONDON (AP) — The Bank of England unveiled another big stimulus package for the U.K. economy as it tries to limit the scale of the coronavirus recession, which it now believes will be “less severe” than it feared last month. In a statement Thursday, the bank’s policy making panel said...

FILE - In this file photo dated Friday, May 1, 2020,  the European Central Bank is shadowed by heavy clouds in Frankfurt, Germany.  The central bank for the 19 countries that use the euro said Thursday June 18, 2020, That it has handed out more than a trillion euros in cheap loans to banks as part of its effort to get the economy through the virus outbreak.  (AP Photo/Michael Probst, FILE)

European Central Bank hands out 1.3 trillion euros in loans

Jun. 18, 2020 11:31 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank has handed out 1.31 trillion euros ($1.46 trillion) in long-term, ultra-cheap credit to hundreds of banks as part of its emergency support aimed at cushioning the impact of the coronavirus pandemic on businesses and workers. The three-year loans are...

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington.   The Federal Reserve says it will keep buying bonds, Wednesday, June 10,  to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed’s policymakers foresee no rate hike through 2022. .(AP Photo/Jacquelyn Martin, File)

Powell: A stronger job market is key to combating inequality

Jun. 17, 2020 3:02 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell stressed Wednesday that the federal government's role in strengthening the U.S. market in the face of a recession is vital in preventing a worsening of economic inequality. Powell said the the Fed would continue to deploy all its financial tools to...

An electronic stock board showing Japan's Nikkei 225 index at a securities firm is seen at a street in Tokyo Wednesday, June 17, 2020. Major Asian stock markets declined Wednesday after Wall Street gained on hopes for a global economic recovery and Japan's exports sank. (AP Photo/Eugene Hoshiko)

Asia stocks lower after Wall Street gains on recovery hopes

Jun. 16, 2020 11:30 PM EDT

BEIJING (AP) — Major Asian stock markets declined Wednesday after Wall Street gained on hopes for a global economic recovery and Japan's exports sank. Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. On Wall Street, the benchmark S&P 500 index rose for a third day, gaining 1.9%...

A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Monday, June 15, 2020. Asian shares were mostly lower Monday on concern over a resurgence of coronavirus cases and pessimism after Wall Street posted its worst week in nearly three months. (AP Photo/Eugene Hoshiko)

Asian stocks follow Wall St higher after Fed ups bond buys

Jun. 16, 2020 12:10 AM EDT

TOKYO (AP) — Asian shares rose Tuesday, cheered by fresh moves by the U.S. Federal Reserve to support markets battered by the coronavirus pandemic. Japan's benchmark Nikkei 225 gained 3.2% to 22,212.62. South Korea's Kospi gained 4.5% to 2,123.35, while Australia's S&P/ASX 200 jumped 3.7% to 5,932.40....