Federal Reserve – News Stories About Federal Reserve - Page 8

Fed Makes Emergency
Rate Cut, Most Since 2008

UPDATED

Mar 3, 2020 9:13 AM CST

Fed Makes Emergency Rate Cut, Most Since 2008

Cuts benchmark interest rate half a point

(Newser) - In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point Tuesday in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell said at a news conference that the virus "will surely weigh on economic activity...

Fed Leaves Key Rate Unchanged

Jan 29, 2020 1:32 PM CST

Fed Leaves Key Rate Unchanged

Key interest rate remains at 1.5% to 1.75%

(Newser) - The Federal Reserve kept its key interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats, including from China’s viral outbreak. The Fed sketched a mostly bright picture of the US economy in the statement it released after its latest...

Fed Leaves Rates Alone, Expects More of Same in 2020

Fed Doesn't Mess With Rates
and Doesn't Expect to in 2020

Dec 11, 2019 1:43 PM CST

Fed Doesn't Mess With Rates and Doesn't Expect to in 2020

It removes language about 'uncertainties'

(Newser) - The Federal Reserve had signaled a pause was coming, and on Wednesday that's what we got. Following a series of three rate cuts, the Fed at its December meeting kept its benchmark interest rate unchanged at between 1.5% and 1.75%. And should their expectations for the economy...

Ex-Fed Chief
Paul Volcker
Dead at 92

OBITUARY

Dec 9, 2019 9:09 AM CST

Ex-Fed Chief Paul Volcker Dead at 92

Chair who pushed back on inflation by raising interest rates died of prostate cancer complications

(Newser) - Paul Volcker, the former Federal Reserve chairman who in the early 1980s raised interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died. He was 92, per the AP . The New York Times and Washington Post report his death was confirmed by...

Fed Cuts Rates
Again, With a Big 'But'

Oct 30, 2019 1:42 PM CDT

Fed Cuts Rates Again, With a Big 'But'

The short-term rate is lowered to between 1.5% and 1.75%

(Newser) - The Federal Reserve cut its benchmark interest rate Wednesday for the third time this year to try to sustain the economic expansion in the face of global threats, the AP reports. But it hinted that it won't likely cut again this year. The Fed's move reduces the short-term...

Sharply Divided Fed
Again Reduces Rates

Sep 18, 2019 2:31 PM CDT

Sharply Divided Fed Again Reduces Rates

But may not do so again this year

(Newser) - A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year, the AP reports. The Fed's move reduces its key short-term rate—which influences many consumer and business loans—by an...

Trump: Fed 'Boneheads' Need
to Try Negative Interest Rates

Sep 11, 2019 2:25 PM CDT

Trump: Fed 'Boneheads' Need to Try Negative Interest Rates

President is once again criticizing Jerome Powell and his colleagues

(Newser) - President Trump continued his long-running critique of the Federal Reserve Wednesday in a series of tweets blasting his own hand-picked chair, Jerome Powell, and the rest of the "Boneheads" there who, he said, need to be slashing interest rates below zero—a far cry from the comparatively moderate rate...

Trump Blasts
'Crazy Inverted
Yield Curve'

THE RUNDOWN

Aug 15, 2019 6:47 AM CDT

Trump Blasts 'Crazy Inverted Yield Curve'

Economists are split on signs of a recession

(Newser) - President Trump says the American economy is doing magnificently and we are "winning, big time, against China"—but one of the things still holding the economy back is the Federal Reserve chairman he appointed. In a pair of tweets Wednesday, Trump renewed his attacks on Jerome Powell, calling...

The Fed Just Made
a Major Reversal

the rundown

Jul 31, 2019 1:22 PM CDT

The Fed Just Made a Major Reversal

Cuts key interest rate by a quarter-point

(Newser) - As expected, the Federal Reserve on Wednesday cut its key interest rate for the first time since December 2008. The benchmark short-term rate was lowered by a quarter-point to a range of 2% to 2.25%, the AP reports. The Fed also repeated a pledge to "act as appropriate...

Fed Chief Says He Won't Go
If Trump Tries to Fire Him

Jul 11, 2019 12:38 AM CDT

Fed Chief Says He Won't Go If Trump Tries to Fire Him

'The law gives me a 4-year term and I fully intend to serve it,' Jerome Powell says

(Newser) - If President Trump decides that he wants to get rid of Jerome Powell, he's going to find the Federal Reserve chairman a lot harder to fire than a Celebrity Apprentice contestant. Powell, whose policies have frequently been criticized by the president, told the House Financial Services Committee Wednesday that...

Fed Chief Indicates
We're In for a Rate Cut

Jul 10, 2019 9:48 AM CDT

Fed Chief Indicates We're In for a Rate Cut

Possibly as soon as the July meeting

(Newser) - The S&P 500 crossed the 3,000 threshold for the first time ever Wednesday, as expectations for a July rate cut rise, reports CNBC . Federal Reserve Chairman Jerome Powell said Wednesday that "many" Fed officials believe a weakening global economy and rising trade tensions have strengthened the case...

Fed Drops the
Word 'Patient'
From Its
Statement

Jun 19, 2019 1:49 PM CDT

Fed Drops the Word 'Patient' From Its Statement

Some say that could suggest the Fed is now inclined to begin cutting rates

(Newser) - The Federal Reserve left its key interest rate unchanged Wednesday but signaled that it's prepared to start cutting rates if needed to protect the US economy from trade conflicts and other threats. The Fed kept its benchmark rate—which influences many consumer and business loans—in a range of...

Trump's Fed Pick
Bows Out of Contention

May 2, 2019 11:55 AM CDT

Trump's Fed Pick Bows Out of Contention

Stephen Moore withdraws name from consideration amid controversy

(Newser) - President Trump says his pick for the Federal Reserve board , conservative commentator Stephen Moore, has withdrawn from contention. The decision comes amid controversy over Moore's past writings about women, per the AP . Moore had lost crucial Republican support in the Senate, which would have to vote on a potential...

Why It's Possible the Fed's
Next Rate Change Is a Cut

May 1, 2019 1:45 PM CDT

Why It's Possible the Fed's Next Rate Change Is a Cut

Inflation isn't where the Fed likes it to be

(Newser) - The Federal Reserve left its key interest rate unchanged Wednesday and signaled that no rate hikes are likely in coming months amid signs of renewed economic health but unusually low inflation. The Fed left its benchmark rate—which influences many consumer and business loans—in a range of 2.25%...

CNN Unearths Old Columns
by Fed Pick Stephen Moore

Apr 23, 2019 7:23 AM CDT

CNN Unearths Old Columns by Fed Pick Stephen Moore

His views about women are now under scrutiny, but he says these were 'spoof' pieces

(Newser) - One of President Trump's candidates for the Federal Reserve has a new media controversy, one he describes as "character assassination." CNN dug up several old columns written about 20 years ago by Stephen Moore for the conservative National Review. Provocative views about fiscal policy? Nope, Moore jokes...

After Controversy,
Herman Cain Out
of Running for Fed

Apr 22, 2019 12:29 PM CDT

After Controversy, Herman Cain Out of Running for Fed

2012 presidential candidate withdraws his name from consideration

(Newser) - Well, never mind: Herman Cain has withdrawn himself from consideration for the Federal Reserve Board. "My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board," Trump tweeted Monday. "I will respect his wishes. Herman...

Cain Nomination
Appears Doomed

Apr 12, 2019 12:21 AM CDT

Cain Nomination Appears Doomed

4 GOP senators don't want him on Fed board

(Newser) - Herman Cain now appears highly unlikely to be raised to the Federal Reserve's board of governors. Administration officials say the former Godfather's Pizza CEO is still President Trump's preferred candidate, but four Republican senators have now spoken out against the potential nomination , the Washington Post reports. With...

Name of Next Fed Pick
Will Likely Ring a Bell

Apr 4, 2019 1:48 PM CDT

Name of Next Fed Pick Will Likely Ring a Bell

President will reportedly nominate Herman Cain, former presidential candidate

(Newser) - President Trump is apparently intent on putting another friendly face on the Fed. Both Bloomberg and Axios report that Trump will pick Herman Cain , the former CEO of Godfather's Pizza who ran for president in 2012. Axios says Trump is holding off on announcing the move until a background...

Trump's Fed Pick Has
Large Unpaid Tax Bill

Mar 28, 2019 2:59 AM CDT

Trump's Fed Pick Has Large Unpaid Tax Bill

IRS is pursuing Stephen Moore for $75K

(Newser) - President Trump's controversial choice for a seat on the Federal Reserve board doesn't have his own finances in order, according to court documents. A federal tax lien in Maryland says conservative commentator Stephen Moore, who owns a home in the state, owes $75,328 in taxes and penalties,...

Trump Picks
a Former
Adviser for
Fed Board

Mar 22, 2019 3:19 PM CDT

Trump Picks a Former Adviser for Fed Board

Stephen Moore has criticized Fed chairman's policies

(Newser) - President Trump said Friday he will nominate Stephen Moore, a conservative economic analyst, to fill a vacancy on the Federal Reserve's seven-member board. Moore, an often polarizing figure in political circles, served as an economic adviser to Trump during the 2016 presidential campaign, the AP reports, and helped draft...