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.
Federal Reserve Chairman Jerome Powell says the economy continues its recovery, hinting the central bank could dial back its extraordinary efforts to prop up the economy later this year.
The Federal Reserve has provided massive support to markets through the pandemic. Now it faces a tricky decision: how to start removing some of that help without triggering a market sell-off.
The U.S. economy grew 6.5% pace in the April-June quarter, continuing to strengthen from the worst of the pandemic. A slowdown is inevitable; the question is how much it will slow.
The Fed is maintaining its easy money policies for now in an effort to speed the economic recovery. It left interest rates near zero despite a jump in consumer prices.
Retail sales jumped nearly 10% in March, as shoppers, flush with $1,400 relief payments, are feeling more confident about venturing out. Weekly unemployment claims dropped to a pandemic low.
The Federal Reserve chairman tells NPR that the U.S. economy is on a clear path to recovery thanks to the Fed's rescue plan and the stimulus passed by Congress.
Jerome Powell and Treasury Secretary Janet Yellen will tell Congress the economy is recovering but that more needs to be done to get to pre-pandemic levels
The Federal Reserve has raised its forecast for economic growth, thanks to an improving public health outlook and trillions of dollars in federal spending.
The Fed will comply with a request from the Treasury Department to wind down coronavirus emergency lending programs after the central bank had earlier objected to the move.
