Latest Jerome Powell News

IMF warns economy recovery threatened by virus, inflation

Oct. 14, 2021 16:17 PM EDT

WASHINGTON (AP) — The International Monetary Fund is warning of rising threats to the global economic recovery posed by the ongoing coronavirus pandemic and an outbreak of inflation. The lending agency called Thursday for greater efforts from wealthy nations to boost...

From cars to gasoline, surging prices match a 13-year high

Oct. 13, 2021 19:28 PM EDT

WASHINGTON (AP) — Another jump in consumer prices in September sent inflation up 5.4% from where it was a year ago, matching the largest increase since 2008 as tangled global supply lines continue to create havoc. U.S. consumer prices rose 0.4% in September from August...

IMF head pledges renewed efforts to protect data integrity

Oct. 13, 2021 17:26 PM EDT

WASHINGTON (AP) — The embattled head of the International Monetary Fund, who successfully fought to keep her job following a data-manipulation scandal, on Wednesday pledged renewed efforts to bolster data integrity while focusing on the main job of helping countries recover from a...

Fed officials: Bond purchases could end by middle of 2022

Oct. 13, 2021 16:15 PM EDT

WASHINGTON (AP) — Federal Reserve officials agreed at their last meeting that if the economy continued to improve, they could start reducing their monthly bond purchases as soon as next month and bring them to an end by the middle of 2022. The discussion was revealed...

Puzzle overhanging job market: When will more people return?

Oct. 07, 2021 13:51 PM EDT

WASHINGTON (AP) — When the U.S. government issues the September jobs report on Friday, the spotlight will fall not only on how many people were hired last month. A second question will command attention, too: Are more people finally starting to look for work? To an...

Inflation knocks businesses off balance as recovery slows

Oct. 07, 2021 10:30 AM EDT

Companies will soon start reporting their latest quarterly financial results and investors have been warned that inflation is going to sting. Retailers, auto makers and a wide range of manufacturers have all warned investors that a supply chain crunch and higher raw...

Fed watchdog to investigate officials' financial trades

Oct. 04, 2021 20:39 PM EDT

WASHINGTON (AP) — An independent investigator will look into whether Federal Reserve officials broke the law with financial trades last year that have come under congressional scrutiny and sharp criticism from outside the central bank. The Federal Reserve’s Office of...

Recovery hampered as inflation hits new highs in US, Europe

Oct. 01, 2021 11:33 AM EDT

WASHINGTON (AP) — Inflation has reached new highs in the United States and Europe as rising energy prices and supply bottlenecks restrain an economic recovery from the pandemic in both economies. The U.S. Commerce Department reported Friday that prices rose 4.3% in...

Powell sees inflation cooling, evading 'difficult situation'

Sep. 30, 2021 13:38 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Thursday that current high levels of inflation are likely to fade next year and won't prevent the Fed from pushing toward its goal of full employment. Powell spoke earlier this week about “tension” between...

Powell defends Fed policies, says inflation may persist

Sep. 29, 2021 15:38 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday defended the ultra-low interest rate policies he has pursued since the pandemic decimated the economy more than 18 months ago. But he acknowledged inflation has stayed higher for longer than he expected....