All big banks pass latest Federal Reserve ‘stress tests’
All 23 of the nation’s biggest banks are healthy enough to withstand a sudden economic catastrophe, the Federal Reserve said Thursday.
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Fed boosts inflation forecasts, moves up expectations for interest rate hike
The Federal Reserve expects inflation will climb to 3.4% this year, higher than the central bank’s previous forecasts, and projected for the first time that there could be two interest rate hikes in 2023.
Delicate task for Fed: When to pull back on low-rate support
With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first steps toward dialing back its ultra-low interest rate policies. It will be a fraught discussion.
Fed survey sees faster growth despite supply-chain problems
Several of the central bank’s districts reported that increased vaccination rates and relaxed social-distancing measures were having a positive impact on the economy.
Fed officials showing some signs of concern over inflation pressures
The discussions, revealed in the minutes of the Fed’s April meeting released Wednesday, marked the first time the central bank has even hinted that the time could be approaching to consider reducing the Fed’s $120 billion monthly bond purchases.
Even as economy heats up, Fed to stick with near-zero rates
Federal Reserve Chairman Jerome Powell Powell said he thinks the inflation pressures that are now building in the U.S. economy, partly in response to clogged supply chains that have created shortages of some goods and components, will prove temporary.
Fed’s Powell sees U.S. boom ahead, with COVID still a risk
Federal Reserve Chairman Jerome Powell said that he doesn’t expect to raise the Fed’s benchmark interest rate, currently pegged at nearly zero, this year.
Fed’s Powell: U.S. nearing full reopening to ‘different economy’
Federal Reserve Chair Jerome Powell said many Americans who are out of work will struggle to find new jobs because some industries will likely be smaller than they were before the pandemic. In other cases, employers are seeking to use technology instead of workers.
Federal Reserve to end relaxed capital requirements for large banks
The easing of the regulation had been intended to give banks flexibility in what assets they could hold to meet regulatory requirements during the t ffthe pandemic, when banks were having to suddenly write down billions of dollars of loans.
Fed expects to keep its key rate near zero through 2023
The Federal Reserve foresees the economy accelerating quickly this year yet still expects to keep its benchmark interest rate pinned near zero through 2023, despite concerns in financial markets about potentially higher inflation.
Stock market turns lower as bond yields continue upward march
Stocks and bonds sold off on Thursday after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more forcefully against the recent spike in Treasury yields.
Powell says higher inflation temporary, Fed will be ‘patient’
Federal Reserve Chair Jerome Powell suggested Thursday that inflation will pick up in the coming months but the rise would likely prove temporary and not enough for the Fed to alter its record-low interest rate policies.
Fed’s Powell: Recovery incomplete, high inflation unlikely
Federal Reserve Chair Jerome Powell’s comments were in contrast to the increasing optimism among many analysts that the economy will grow rapidly later this year. That outlook has also raised concerns, though, about a potential surge in inflation.
Federal Reserve sees modest pickup in hiring this month
The Federal Reserve says there’s evidence that hiring has picked up in recent weeks, although the job market remains badly damaged by the pandemic.
Fed stresses its commitment to low rates as economy stumbles
Speaking at a news conference, Federal Reserve Chairman Jerome Powell made clear his belief that the economy will struggle in the coming weeks and months, until widespread vaccinations and government rescue aid eventually fuel a sustained rebound.
Yellen wins Senate approval as treasury secretary
The Senate on Monday approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary, making her the first woman to hold the job in the department’s 232-year history.
Powell signals Fed will keep aiding economy with bond buying
Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance.
Fed keeps rate near zero, sees brighter economy in 2021
The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes “substantial” progress—a step intended to reassure financial markets and keep long-term borrowing rates low indefinitely.
As economy struggles, Fed weighs boosting bond purchases
The Federal Reserve since June has been buying $120 billion in bonds each month to keep downward pressure on long-term interest rates as a way of giving the economy a boost as it struggles to emerge from a deep recession.
Mnuchin denies trying to hinder incoming administration
U.S. Treasury Secretary Steven Mnuchin said a decision to end several emergency loan programs being run by the Federal Reserve was based on the fact that the programs were not being heavily utilized.