Latest Christine Lagarde News

Fed's Powell urges broader regulation for stablecoins

Sep. 27, 2022 10:01 AM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that stablecoins will need greater regulation as they become more widely used by consumers. Powell also said, in virtual remarks to a conference on digital finance in Paris, that the Fed hasn't yet decided on...

Europe's outlook 'darkening,' ECB head hedges on recession

Sep. 26, 2022 11:52 AM EDT

FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that the economic outlook “is darkening” and she expects business activity to “slow substantially” in the coming months as high energy and food prices pushed up by the war in Ukraine sap consumer spending power. ...

European Central Bank makes largest-ever interest rate hike

Sep. 08, 2022 11:21 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out the inflation that is squeezing consumers and pushing Europe toward...

Yellen downplays US recession risk as economic reports loom

Jul. 24, 2022 17:42 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession. Yellen spoke on NBC's “Meet the Press” just before a slew of economic reports will be released this week that...

Europe's central bank backs larger-than-expected rate hike

Jul. 21, 2022 12:15 PM EDT

FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation. The move...

Italy political turmoil a headache for Europe's central bank

Jul. 20, 2022 08:11 AM EDT

FRANKFURT, Germany (AP) — Italian Prime Minister Mario Draghi's offer to resign has sent unsettling ripples through financial markets, bringing back bad memories of Europe's debt crisis a decade ago and complicating the European Central Bank's job as it raises interest rates for the first time in...

European Central Bank head targeted in hacking attempt

Jul. 12, 2022 10:36 AM EDT

BERLIN (AP) — The European Central Bank said Tuesday that its president, Christine Lagarde, was targeted in a hacking attempt but no information was compromised. The attempt took place “recently,” the Frankfurt-based central bank for the 19 countries that use the euro said in...

Croatia clears final hurdle to adopting the euro next year

Jul. 12, 2022 10:33 AM EDT

BRUSSELS (AP) — The European Union on Tuesday removed the final obstacles to Croatia adopting the euro, enabling the first expansion of the currency bloc in almost a decade as the exchange rate fell to its weakest level against the dollar in 20 years. EU finance ministers approved...