Latest Jerome Powell News
Fed's Powell gets an earful about inflation and interest rates from small businesses
YORK, Pa. (AP) — Federal Reserve officials typically gather many of their insights and observations about the economy from some of the top Ph.D. economists in Washington. On a visit Monday to York, Pennsylvania, Chair Jerome Powell got an earful from a group with a decidedly...
Stock market today: Asian shares track Wall Street's slump after Fed says rates may stay high in '24
Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. Most regional markets fell more than 1%. U.S. futures and oil prices also declined. U.S. stocks slumped...
Fed keeps rates unchanged and signals optimism about a potential 'soft landing'
WASHINGTON (AP) — The Federal Reserve left its benchmark interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. The Fed's policymakers also signaled that they expect...
3 officials sworn in at Federal Reserve, as governing board reaches full strength
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell swore in three members of the central bank's governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank's first Latina governor. The officials, all appointed...
Editorial Roundup: United States
Excerpts from recent editorials in the United States and abroad: Aug. 25 The Washington Post on wildfires in the United States Maui officials should have known what was coming. In 2014, they were put on notice that highly flammable invasive grasslands...
Federal Reserve minutes: Too-high inflation, still a threat, could require more rate hikes
WASHINGTON (AP) — Most Federal Reserve officials last month still regarded high inflation as an ongoing threat that could require further interest rate increases, according to the minutes of their July 25-26 meeting released Wednesday. At the same time, the officials saw “a...
Supreme Court's student loan decision will lower US deficit according to new White House projection
WASHINGTON (AP) — The Supreme Court ruling that upended President Joe Biden's plan to forgive student loan debt changed his budget math, modestly lowering the projected deficit for this year, his budget office reported Friday. The White House expects to pare back $259 billion in...
Key question as Federal Reserve meets: Can the central bank pull off a difficult 'soft landing'?
WASHINGTON (AP) — When Chair Jerome Powell and other Federal Reserve officials gather this week for their latest decision on interest rates, they will do so on the cusp of achieving an elusive “soft landing” — the feat of curbing inflation without causing a deep recession. ...
