Latest Janet Yellen News

Fed officials discussed hiking rates to 'restrictive' level

Oct. 17, 2018 3:43 PM EDT

WASHINGTON (AP) — Federal Reserve officials last month debated how high they should raise interest rates to achieve their economic goals, with some arguing that they might need to lift rates to a level that would modestly restrain growth. In the end, the Fed modestly raised its key short-term rate and...

Trump escalates his attacks on Fed: 'My biggest threat'

Oct. 16, 2018 6:02 PM EDT

WASHINGTON (AP) — Stepping up his attacks on the Federal Reserve, President Donald Trump declared Tuesday that the Fed is "my biggest threat" because he thinks it's raising interest rates too quickly. Trump said he doesn't speak with Chairman Jerome Powell because of the Fed's political independence but...

Trump steps up his attacks on Federal Reserve's rate hikes

Oct. 11, 2018 4:05 PM EDT

WASHINGTON (AP) — President Donald Trump on Thursday escalated his attack on the Federal Reserve's interest rate increases, asserting that "the Fed is out of control" and blaming it for this week's plunge in stock prices. "It's a correction that I think is caused by the Federal Reserve with interest...

Today in History

Oct. 8, 2018 12:01 AM EDT

Today in History Today is Monday, Oct. 8, the 281st day of 2018. There are 84 days left in the year. Today is Columbus Day in the United States and Thanksgiving in Canada. Today's Highlight in History: On Oct. 8, 1998, the House triggered an open-ended impeachment inquiry against President Bill Clinton in a...

Trump to nominate economist Nellie Liang for Fed board seat

Sep. 19, 2018 7:36 PM EDT

WASHINGTON (AP) — President Donald Trump is set to nominate former Federal Reserve economist Nellie Liang to the central bank's board of governors, tapping an official who played a key role at the Fed in dealing with the aftermath of the 2008 financial crisis. White House spokeswoman Lindsay Walters...

Trump in interview says he respects Fed Chairman Powell

Aug. 30, 2018 6:50 PM EDT

WASHINGTON (AP) — President Donald Trump said Thursday that he respects Federal Reserve Chairman Jerome Powell but isn't a fan of the Fed's recent rate hikes. Speaking about his decision to pick Powell to replace Janet Yellen earlier this year, Trump said, "I put a man in there who I like and respect." But...

Senate approves monetary policy expert as Fed vice chairman

Aug. 28, 2018 6:21 PM EDT

WASHINGTON (AP) — The Senate on Tuesday confirmed President Donald Trump's nominee for the No. 2 post at the Federal Reserve. Richard Clarida's nomination four a four-year term as vice chairman was approved on a 69 to 26 vote. The Senate also backed Clarida's nomination for a Fed board term. Clarida is an...

Mnuchin praises Fed's Powell as 'phenomenal leader'

Aug. 28, 2018 3:57 PM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin on Tuesday called Federal Reserve Chairman Jerome Powell a "phenomenal leader." His comments marked the administration's first praise of the central bank since a barrage of criticism by President Donald Trump. In an interview with CNBC, Mnuchin says he...

Powell signals more hikes ahead if US economy stays strong

Aug. 24, 2018 4:20 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell signaled Friday that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong. Powell added that while annual inflation has risen to near the Fed's 2 percent target rate, it doesn't seem likely to...

Fed officials: Trump complaints won't affect rate decisions

Aug. 23, 2018 4:36 PM EDT

WASHINGTON (AP) — Two top Federal Reserve officials said Thursday that President Donald Trump's complaints that the Fed's interest rate increases risk hurting the U.S. economy won't affect their decisions on whether to raise rates. Esther George, president of the Fed's Kansas City regional bank, said she...