Latest Janet Yellen News

Fed raises key rate and sees possible acceleration in hikes

Jun. 13, 2018 5:14 PM EDT

WASHINGTON (AP) — The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases. The Fed now foresees four rate hikes this year, up from the three it had previously...

Senate panel approves nominations for 2 Fed board seats

Jun. 12, 2018 12:04 PM EDT

WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's nomination of Columbia University professor Richard Clarida to be the vice chairman of the Federal Reserve. The panel also approved the nomination of Kansas bank commissioner Michelle Bowman to fill another vacancy...

Fed watchers await rate forecast with a hike all but certain

Jun. 11, 2018 12:23 PM EDT

WASHINGTON (AP) — Another interest rate increase is all but certain when the Federal Reserve meets this week. What's not so sure is whether the vigorous U.S. economy will lead the Fed to accelerate its rate hikes in the months ahead — a move that could raise the risk of a recession. When it last met...

Banks would be freer to trade for profit under Fed proposal

May. 30, 2018 8:06 PM EDT

WASHINGTON (AP) — The largest U.S. banks would have leeway to take riskier trading bets for their own profit under proposed changes the Federal Reserve unveiled Wednesday. The changes would loosen rules that since the 2008 financial meltdown have barred big banks from using depositors' money to make...

At Harvard, Clinton warns of threats to American democracy

May. 25, 2018 6:07 PM EDT

CAMBRIDGE, Mass. (AP) — Hillary Clinton implored a crowd at Harvard University on Friday to stand up for "the truth, facts and reason" as attacks on the rule of law, free press and elections threaten to undermine American democracy. The former Democratic presidential candidate, secretary of state, U.S....

Hillary Clinton to receive prestigious Harvard medal

May. 20, 2018 1:00 PM EDT

CAMBRIDGE, Mass. (AP) — Hillary Clinton is being honored with a medal during Harvard University's graduation week. The former First Lady, U.S. Senator, Secretary of State and Democratic candidate for president will be awarded Friday in Cambridge with the Radcliffe Medal, which the university says honors...

Trump pick for vice chair pledges support for key Fed goals

May. 15, 2018 4:31 PM EDT

WASHINGTON (AP) — Richard Clarida, President Donald Trump's nominee for the No. 2 post at the Federal Reserve, pledged support Tuesday for the Fed's twin goals of stabilizing inflation and maximizing employment while also declaring the importance of the central bank's independence. Clarida, an economics...

Fed keeps key rate steady but notes rising inflation

May. 2, 2018 4:56 PM EDT

WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate unchanged Wednesday but noted that inflation is nearing its 2 percent target rate after years of remaining undesirably low. The Fed ended its latest policy meeting by leaving its key short-term rate unchanged at 1.5 percent to 1.75...

Fed set to leave rates alone amid signs of rising inflation

May. 2, 2018 3:14 AM EDT

WASHINGTON (AP) — The Federal Reserve achieved an inflation milestone this week, but that isn't likely to alter expectations for what the Fed will announce when its latest policy meeting ends Wednesday. After six years of mostly missing its annual 2 percent target for inflation, the Fed learned Monday that...

Fed is set to leave rates alone but to hike later in year

Apr. 30, 2018 11:13 AM EDT

WASHINGTON (AP) — The Federal Reserve is all but sure to leave interest rates unchanged this week, though steady economic growth and inflation pressures will likely keep the Fed on a path toward further rate hikes later this year. The central bank is meeting as its board is undergoing a makeover, with a...