Fed

  • Economy May 13

    Powell Warns of a Possible Sustained Recession From Pandemic

    Federal Reserve Chair Jerome Powell warned of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage

  • stimulus checks Apr 12

    Check Your Balance: Coronavirus Stimulus Money Starts to Appear in Bank Accounts

    Americans are starting to receive their cash payments via direct deposits, part of the $2 trillion bill passed by Congress to stimulate the economy after the decline caused by the pandemic, NBC News reports. “#IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts today. We know many people are anxious to get their payments; we’ll continue issuing them as fast...

  • Fed Apr 9

    Fed Unveils Details of $2.3T in Programs to Help Support the Economy

    The Federal Reserve on Thursday announced a bevy of new moves aimed at getting another $2.3 trillion of financing into businesses and revenue-pinched governments. Stock futures jumped after the announcement, which came moments after the government reported that 6.6 million new jobless claims were filed last week. Among the Fed’s measures were details regarding its Main Street business lending program and several other...

  • Donald Trump Mar 14

    Trump on Economy During Coronavirus: ‘We Should Be Leading’

    President Trump told reporters on Saturday that he was optimistic about the economy following Friday’s stock market growth and the congressional aid package, predicting a “tremendous bounce” in the wake of the coronavirus. Trump also expressed frustration with the Chairman of the Fed and accused him of “following, not leading” global markets.

  • coronavirus Mar 15

    Fed Takes Emergency Steps to Slash Rates and Ease Bank Rules

    The Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak. The central bank said the effects of the outbreak will weigh on economic activity in the near term...

  • personal finance Mar 3

    What This Surprise Fed Rate Cut Means for You

    In a rare move, the Federal Reserve announced an emergency rate cut of 50 basis points in response to the growing threat from the coronavirus outbreak. It’s the first time the Fed has cut rates by half a percentage point since late 2008.  “The fundamentals of the U.S. economy remain strong,” Fed Chairman Jerome Powell said in a meeting with reporters. However, “the spread...

  • Congress Nov 13, 2019

    Fed’s Powell Sees Steady Growth, Signals Pause in Rate Cuts

    Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about the U.S. economy and said he expects it will grow at a solid pace, though it...

  • Congress Sep 18, 2019

    How the Fed’s Interest Rate Cut Affects Credit Card, Mortgage, Savings Rates

    The Fed is expected to announce Wednesday that it is cutting its benchmark interest rate by one quarter of a percentage point, its third rate cut this year. “When the Fed raises or reduces the cost of money, it affects interest rates across the board,” said Greg McBride Bankrate’s chief financial analyst. “One way or another, it’s going to impact...

  • Donald Trump Sep 18, 2019

    A Divided Fed Reduces Rates But May Not Cut Again This Year

    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 Fed’s move reduced its key short-term rate — which influences many consumer and business loans — by an additional quarter-point to a range of 1.75% to 2%.

  • Donald Trump Sep 14, 2019

    Biden’s ‘Record Player’ Just 1 of His Vintage References

    Joe Biden’s suggestion that parents leave a record player on to teach their babies better vocabulary was a head-scratching (needle-scratching?) moment in Thursday’s debate. But it was hardly the first time the 76-year-old Biden has busted out a vintage reference that reveals his age and leaves some in the audience in the dark. Famous for his off-the-cuff storytelling, the former...

  • Donald Trump Aug 16, 2019

    Recession Signs Worry Trump Ahead of 2020

    President Donald Trump is warning of an economic crash if he loses reelection, arguing that even voters who personally dislike him should base their ballots on the nation’s strong growth and low unemployment rate. But privately, Trump is growing increasingly worried the economy won’t look so good come Election Day. The financial markets signaled the possibility of a U.S. recession...

  • Congress Aug 14, 2019

    Explaining the Yield Curve Inversion with Gummy Candy

    A yield curve inversion has been a reliable predictor in a coming recession, but what exactly is a yield curve inversion? We explain… using gummy candy.

  • Donald Trump Aug 2, 2019

    US Adds a Solid 164,000 Jobs in July

    U.S. employers sustained a steady pace of hiring in July, adding 164,000 jobs, according to the Bureau of Labor Statistics. The unemployment rate remained at 3.7% for a second straight month, close to a 50-year low. It’s a reassuring sign for an economy that’s endured a series of ups and downs.

  • Donald Trump Aug 1, 2019

    Powell Raises as Many Questions As Answers With Fed Rate Cut

    The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter the impact of President Donald Trump’s trade wars, stubbornly low inflation and global weakness. It left open the possibility of future rate cuts, but perhaps not as many as Wall Street had been hoping for. During a news conference, Chairman...

  • Donald Trump Jul 31, 2019

    Fed Cuts Key Rate for First Time in More Than a Decade

    The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter the impact of President Donald Trump’s trade wars, stubbornly low inflation and global weakness. It left open the possibility of future rate cuts, but perhaps not as many as Wall Street had been hoping for. During a news conference, Chairman...

  • Donald Trump Jun 19, 2019

    Fed Leaves Its Key Rate Unchanged But Hints of Future Cuts

    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 U.S. economy from trade conflicts and other threats. The Fed kept its benchmark rate — which influences many consumer and business loans — in a range of 2.25% to 2.5%, where it’s been since December.

  • Donald Trump Jun 19, 2019

    Fed Leaves Its Key Rate Unchanged But Hints of Future Cuts

    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 U.S. economy from trade conflicts and other threats. The Fed kept its benchmark rate — which influences many consumer and business loans — in a range of 2.25% to 2.5%, where it’s been since December.

  • Donald Trump Jun 7, 2019

    US Hiring Slows Amid Trade Tensions, Weaker Global Economy

    U.S. hiring stumbled in May as employers added just 75,000 jobs, a sign that businesses have become more cautious in the face of weaker global growth, widening trade conflicts and perhaps some difficulty finding enough workers. Last month’s modest job gain followed a much healthier increase of 224,000 in April. The Labor Department said Friday that the unemployment rate remained...

  • Donald Trump May 1, 2019

    Fed Leaves Rates Alone Despite Trump Pressure

    The Federal Reserve left its key interest rate unchanged Wednesday and signaled that it’s unlikely to either raise or cut rates 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% to 2.5%. Its low-rate policy has...

  • Donald Trump Apr 22, 2019

    A Trump Fed Choice Steps Aside, and Another Faces New Doubts

    President Donald Trump’s efforts to reshape the Federal Reserve stumbled on Monday, with one of his potential nominees for the Fed’s board withdrawing from consideration and another being enveloped by fresh doubts. Herman Cain, a former CEO of Godfather’s Pizza, asked to be taken out of the running for an influential post at the U.S. central bank, Trump tweeted. Cain...

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