President Donald Trump slammed the Federal Reserve as “crazy” for its interest-rate increases this year in comments hours after the worst U.S. stock market sell-off since February.
The Federal Reserve on Wednesday lifted its short-term rate for the eighth time since late 2015, and the Fed indicated that it expects to continue gradual increases.
The modest rate increase that's widely expected reflects the continued resilience of the U.S. economy, now in its 10th year of expansion, the second-longest such stretch on record.
Federal Reserve Chairman Jerome Powell said the Fed recognizes the need to strike a careful balance between its mandates of maximizing employment and keeping price increases stable.
In a brief policy statement, the Federal Reserve noted a strengthening labor market, economic activity growing at “a strong rate,” and inflation that’s reached the central bank’s target of 2 percent annual gains.
Experts say variables include what type of loans a bank has on its books, local competition and marketplace demand.
The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time.
In his semi-annual testimony to Congress on Tuesday, Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy.
In an interview Thursday, Federal Reserve Chairman Jerome Powell gave an upbeat assessment of the economy, noting that unemployment is at its lowest point in nearly two decades and inflation is rising toward the Fed’s optimal range.
The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases.
The Federal Reserve is set Wednesday to modestly raise its key short-term interest rate for the second time this year. But attention will be focused on any hints the Fed might accelerate its hikes in the coming months.
Federal Reserve officials signaled rising confidence last month that a strong economy will lift inflation closer to its 2 percent target and that they may accelerate the Fed's pace of interest rate hikes as a result.
The Federal Reserve is raising its key interest rate and signaling confidence in the U.S. economy's durability but plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell.
Federal Reserve Chairman Jerome Powell told Congress on Tuesday that the outlook for the U.S. economy "remains strong" despite the recent stock market turbulence, keeping the central bank on track to gradually raise interest rates.
When Jerome Powell testifies to Congress on Tuesday in his first public appearance as chairman of the Federal Reserve, investors will be paying close attention to his every word.
Many analysts think the Fed may accelerate its rate increases and boost rates four times this year. That would likely cause consumer rates such as mortgage rates to rise more quickly.
The turbulence coursing through markets has raised speculation that Fed officials might decide to slow their pace of rate increases out of fear of upsetting the markets and possibly harming the economy.
The Federal Reserve said it expects the steadily strengthening economy to warrant further gradual increases in its benchmark rate.
Jerome Powell, 64, has served for 5-1/2 years on the Federal Reserve’s board. A lawyer and investment manager by training, many expect him to follow Janet Yellen’s cautious approach to interest rates.
Steps the Federal Reserve took Wednesday could lead over time to higher loan rates for consumers and businesses and slightly better returns for savers.
