Senate confirms Christopher Waller to serve on Fed's board

WASHINGTON (AP) — The Senate on Thursday narrowly confirmed the nomination of Christopher Waller for the Federal Reserve's Board of Governors, placing another of President Donald Trump's picks on the Fed's influential board after a string of high-profile rejections. The vote in favor of Waller's...

Fed reports slowing US economic activity due to virus surge

WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that economic activity in several regions slowed in November as coronavirus cases surged. The Fed report released Wednesday said that overall, the Fed's 12 regional banks characterized the economic expansion as...

Federal Reserve survey of US economy finds activity slowing in some parts of country as virus cases surge

Fed and Treasury urge Congress to approve more virus relief

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin urged Congress to approve COVID-19 relief funds without further delay, though Democrats continued to attack a decision by Mnuchin to allow five Fed lending programs to expire during the pandemic. In his most...

Unveiling economic team, Biden pledges, 'Help is on the way'

WILMINGTON, Del. (AP) — President-elect Joe Biden on Tuesday introduced top advisers he says will help his administration rebuild an economy hammered by the coronavirus pandemic, declaring, “I know times are tough, but I want you to know that help is on the way.” Biden said he'd chosen a...

Mnuchin defends shut down of Fed emergency loan programs

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging. Democrats were unconvinced, however, saying that Mnuchin’s actions are politically motivated and intended to...

Biden names liberal econ team as pandemic threatens workers

WILMINGTON, Del. (AP) — With unemployment still high and the pandemic threatening yet another economic slump, President-elect Joe Biden is assembling a team of liberal advisers who have long focused on the nation’s workers and government efforts to address economic inequality. Janet Yellen,...

Asian stocks gain on stronger Chinese factory data

BEIJING (AP) — Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powell’s appearance before legislators. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 index...

Biden names liberal econ team as pandemic threatens workers

WILMINGTON, Del. (AP) — With unemployment still high and the pandemic threatening yet another economic slump, President-elect Joe Biden is assembling a team of liberal advisers who have long focused on the nation’s workers and government efforts to address economic inequality. Janet Yellen,...

Powell says pace of economic improvement has moderated

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says that the pace of improvement in the economy has moderated in recent months with future prospects remaining “extraordinarily uncertain.” In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases...