Latest Jerome Powell News

Asian stocks follow Wall St lower on Fed hints at rate hikes

Jun. 16, 2021 23:19 PM EDT

BEIJING (AP) — Asian stock markets followed Wall Street lower Thursday after the Federal Reserve indicated it might ease off economic stimulus earlier than previously thought. Tokyo, Hong Kong and Seoul fell while Shanghai gained after Fed policymakers, who previously...

Fed sees earlier time frame for rate hikes with inflation up

Jun. 16, 2021 18:19 PM EDT

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may act sooner than previously planned to start dialing back the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising inflation. ...

Delicate task for Fed: When to pull back on low-rate support

Jun. 14, 2021 13:23 PM EDT

WASHINGTON (AP) — With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first steps toward dialing back its ultra-low interest rate policies. It will be a fraught discussion, one likely to occur over...

This Week: Retail sales, Fed policy update, Kroger earns

Jun. 14, 2021 01:15 AM EDT

A look at some of the key business events and economic indicators upcoming this week: SIZING UP RETAIL SALES The Commerce Department issues its May tally of U.S. retail sales Tuesday. Economists predict sales fell a seasonally...

Top US regulators pledge to seek reforms for money markets

Jun. 11, 2021 19:28 PM EDT

WASHINGTON (AP) — Top regulators pledged Friday to push reforms in a key corner of U.S. financial markets that the Federal Reserve and Treasury had to rush to support after it was roiled during the coronavirus outbreak in the spring of 2020. Members of the Financial...

Another jump in prices tightens the squeeze on US consumers

Jun. 10, 2021 13:35 PM EDT

WASHINGTON (AP) — American consumers absorbed another surge in prices in May — a 0.6% increase over April and 5% over the past year, the biggest 12-month inflation spike since 2008. The May rise in consumer prices that the Labor Department reported Thursday reflected...

US economy: Plenty of growth, not enough workers or supplies

Jun. 07, 2021 16:18 PM EDT

WASHINGTON (AP) — The U.S. economy is sparking confusion and whiplash almost as fast as it’s adding jobs. Barely more than a year after the coronavirus caused the steepest economic fall and job losses on record, the speed of the rebound has been so unexpectedly swift...

Fed chief Powell: Climate policy is for elected officials

Jun. 04, 2021 10:45 AM EDT

FRANKFURT, Germany (AP) — Federal Reserve Chair Jerome Powell says the central bank can help assess risks to banks from climate change but that addressing the broader issue is up to private companies and elected officials, underlining that U.S. central bankers are not climate policy makers....

Fed to sell off assets from an emergency loan program

Jun. 02, 2021 18:49 PM EDT

WASHINGTON (AP) — The Federal Reserve said Wednesday that it will start selling off the holdings of one of its emergency lending programs created last year to stabilize financial markets at the height of the pandemic crisis. The Fed will begin winding down the portfolio...

Fed survey sees faster growth despite supply-chain problems

Jun. 02, 2021 17:48 PM EDT

WASHINGTON (AP) — The U.S. economy grew at a somewhat faster pace in April and May despite disruptions that choked supplies to the nations manufacturers, the Federal Reserve reported Wednesday. In the Fed's latest survey of economic conditions around the nation,...