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News Articles: Federal Reserve

A hiring sign is posted outside a business in Huntingdon Valley, Pa., on Feb. 22. Employers are keen for workers as the economy continues to recover from the pandemic.

Tagged as: 

  • Economy

The U.S. added 678,000 jobs in February. It's another sign of a hot labor market

U.S. employers added 678,000 jobs in February as the unemployment rate fell to 3.8%, from 4% in January. The Federal Reserve hopes to curb inflation without stalling job growth.

March 04, 2022
|
By:
  • Scott Horsley
Federal Reserve Chair Jerome Powell testifies about monetary policy and the state of the economy before the House Financial Services Committee on Wednesday. Powell reiterated the Fed is gearing up to raise interest rates this month.

Tagged as: 

  • Economy

The Federal Reserve is ready to raise interest rates soon despite the war in Ukraine

Fed Chair Jerome Powell says the central bank is prepared to begin raising interest rates this month to fight inflation despite economic uncertainty after Russia's invasion of Ukraine.

March 03, 2022
|
By:
  • Scott Horsley
Sarah Bloom Raskin, President Biden's nominee to be the Fed's vice chair for supervision, speaks during her confirmation hearing with the Senate Banking Committee on Feb. 3 in Washington, D.C. Senate Banking Republicans delayed a key vote on her nomination, along with a group of four other nominees to the Fed.

Tagged as: 

  • Politics

Senate Republicans block a key vote on Biden's nominations for the Federal Reserve

Republicans boycotted a meeting of the Senate Banking Committee Tuesday, delaying a vote on five nominees to the Fed's board. The move was aimed at one nominee: Sarah Bloom Raskin.

February 15, 2022
|
By:
  • Scott Horsley
A selection of beef cuts is displayed at a Publix Supermarket in Miami on Oct. 20, 2021. Inflation is still high, with consumer prices in January surging at their fastest annual pace since 1982.

Tagged as: 

  • Economy

Inflation hits another 40-year high. It's bad, but older folks say they've seen worse

Consumer prices in January were up 7.5% from a year ago, the biggest annual gain since 1982. That may seem like a lot for those under 40, but older folks have lived through even sharper price hikes.

February 10, 2022
|
By:
  • Scott Horsley
A shopper pays with cash back in 2000 in Austin, Texas. Such transactions are less and less common and are likely to become more so if the Federal Reserve adopts a digital version of the dollar.

Tagged as: 

  • Business

The U.S. is considering a radical rethinking of the dollar for today's digital world

The Federal Reserve is considering whether to adopt a digital version of the dollar, one better suited to a world where we are already using Venmo and Apple Pay. Here's what to know.

February 07, 2022
|
By:
  • David Gura
Federal Reserve Chair Jerome Powell listens during his renomination hearing with the Senate Banking Committee on Jan. 11. The Fed is planning to become more aggressive in fighting inflation.

Tagged as: 

  • Economy

Game time: The Fed unveils a tougher plan to fight stubbornly high inflation

The Federal Reserve is preparing to raise interest rates sooner and — perhaps — more aggressively after inflation reached the highest in nearly 40 years.

January 26, 2022
|
By:
  • Scott Horsley
Traders work on the floor of the New York Stock Exchange on Thursday in New York City. Stocks continued to slump on Monday as the Federal Reserve gears up to raise interest rates in a bid to bring down inflation from 40-year highs.

Tagged as: 

  • Business

Stocks are in the midst of a wild ride as the U.S. gets ready to fight inflation

The Federal Reserve is gearing up to raise interest rates after inflation hit a 40-year high, sparking fears in Wall Street about what these steps will mean for the economy.

January 24, 2022
|
By:
  • David Gura
Federal Reserve Chairman Jerome Powell testifies during a hearing before the Senate Banking Committee on Nov. 30 in Washington, D. C. The Fed unveiled a new game plan on Wednesday as it looks to tackle red-hot inflation.

Tagged as: 

  • Economy

Inflation is still red hot, and it's forcing the Federal Reserve into a new game plan

The Federal Reserve is opening the door to possible interest rate hikes earlier next year than had been expected, as it wrestles with the highest inflation in nearly four decades.

December 15, 2021
|
By:
  • Scott Horsley
Traders work on the floor of the New York Stock Exchange at the start of trading on Monday following Friday's steep decline in global stocks over fears of the new omicron coronavirus variant discovered in South Africa.

Tagged as: 

  • Economy

Stocks dive over the potential economic fallout from the omicron variant

Stocks fell on Tuesday as investors weighed the potential economic fallout from the new coronavirus variant. Federal Reserve Chair Jerome Powell said the central bank could end its bond-buying early.

November 30, 2021
|
By:
  • Scott Horsley
Federal Reserve Chairman Jerome Powell has been selected for a second term at the helm of the Fed, a move likely to be welcomed by markets.

Tagged as: 

  • Economy

Biden reappoints Jerome Powell as Fed chairman at a critical time for the economy

President Biden has tapped Jerome Powell to serve a second term as chairman of the Federal Reserve as the economy faces huge challenges, including surging inflation.

November 22, 2021
|
By:
  • Scott Horsley

Tagged as: 

  • Economy

Inflation surges to its highest since 1990

Consumer prices were 6.2% higher in October than a year ago as inflation continues to chip away at the buying power of households across the country.

November 10, 2021
|
By:
  • Scott Horsley
A man fills out an application at a booth at the Employers Only Long Island Food, Beverage and Hospitality Job Fair on Oct. 19 in Melville, N.Y. Employers added 531,000 jobs in October, marking a recovery after two months of weaker job growth.

Tagged as: 

  • Economy

The labor market is back on track after 531,000 jobs were added in October

U.S. employers added 531,000 new jobs as the unemployment rate fell to 4.6%. Millions of would-be workers are still on the sidelines, though, leaving the pace of the recovery in doubt.

November 05, 2021
|
By:
  • Scott Horsley
Federal Reserve Chairman Jerome Powell walks between meetings with senators on Capitol Hill on Oct. 6 in Washington, D.C. The Fed kept its interest rates near zero at the end of its policy meeting on Wednesday and announced a plan to start removing some of the support it's providing to the economy.

Tagged as: 

  • Economy

Inflation is at a 30-year high. Here's how the Federal Reserve plans to deal with it

The Fed left interest rates near zero on Wednesday but announced plans to start removing some of the support it has provided to the economy as inflation hits its highest point in 30 years.

November 03, 2021
|
By:
  • Scott Horsley
Federal Reserve Chairman Jerome Powell testifies at a House Financial Services Committee hearing on Capitol Hill in Washington, D.C., on Sept. 30. The Fed announced new restrictions on investments by senior officials after being rocked by a controversy involving trading by two regional Fed bank presidents last year.

Tagged as: 

  • Economy

The Federal Reserve imposes new restrictions on investments after trading controversy

The Federal Reserve is adopting new restrictions on investments after active trading last year by two regional Fed bank presidents drew criticism.

October 21, 2021
|
By:
  • Scott Horsley
Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing in Washington, D.C., on Sept. 30. Powell's term expires early next year, and President Biden must decide whether to reappoint him.

Tagged as: 

  • Economy

What's at stake as Biden decides whether to stick with Jerome Powell as Fed chief

President Biden has a big decision to make: Whether to reappoint Jerome Powell to a second term as Federal Reserve chairman or choose someone else for one of the world's most powerful economic jobs.

October 18, 2021
|
By:
  • Scott Horsley
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