Fed

Federal Reserve Board Chairman Jerome Powell faced questions before the Senate Banking Committee on Tuesday about the effects of President Trump's trade policies.

Fed's Powell Says A Long Trade War Could Hurt U.S. Economy

5:22pm July 17, 2018

by Cameron Jenkins

A long trade war that results in higher, broader tariffs "will be bad for our economy and for other economies too," Federal Reserve Chairman Jerome Powell said at a Senate hearing Tuesday.

Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Chicago on April 6. The central bank raised a key short-term rate by a quarter-point on Wednesday, the second increase this year.

Economy

Fed Raises Interest Rates, Signals 2 More Hikes This Year

2:38pm June 13, 2018

by John Ydstie

The Fed boosted a key interest rate again — its seventh hike since 2015. The move, which was expected, will trigger higher rates on credit cards, home equity lines and other kinds of borrowing.

Federal Reserve Chairman Jerome Powell testifies Tuesday before the House Financial Services Committee in Washington. "My personal outlook for the economy has strengthened since December," he said.

New Fed Chief Sees Interest Rates Continuing To Rise As Economy Strengthens

7:36pm February 27, 2018

by John Ydstie

The central bank remains on track to boost rates gradually, Jerome Powell told Congress on Tuesday in his first testimony as Fed chairman. He said he has seen the economy picking up since December.

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Federal Reserve Chair Janet Yellen, who will step down in February, has said she thinks the forces that have been holding inflation down are temporary and that she expects it will soon be on the rise again.

Fed Raises Interest Rates Again As Economy Rolls On

4:29pm December 13, 2017

by John Ydstie

Policymakers increased a key rate for the third time this year. The quarter-point move indicates the Fed is confident in the economy as it continues to recover from the financial crisis.

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Jerome Powell, nominated to be the next chairman of the Federal Reserve Board, testifies Tuesday during his confirmation hearing before the Senate Banking Committee.

Trump's Pick For Fed Signals Interest Rate Hike Likely Next Month

5:27pm November 28, 2017

by John Ydstie

Jerome Powell's confirmation hearing went smoothly, putting him closer to being confirmed as the Federal Reserve's next chairman. He suggested he'll continue the policies pursued under Janet Yellen.

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Fed Chair Janet Yellen on Monday submitted her resignation from the Federal Reserve Board. Earlier this month, President Trump named Jerome Powell to be the next Fed chair.

Yellen Resigns From Fed Board After Being Passed Over To Keep Top Post

5:15pm November 20, 2017

by John Ydstie

Janet Yellen says she'll step down from the Federal Reserve Board when her successor as chair is sworn in. Earlier this month, President Trump named Jerome Powell to be the next Fed chairman.

Janet Yellen has served as chair of the Federal Reserve Board since 2014.

Yellen Will Leave Top Fed Post With Solid Record

6:21pm November 02, 2017

by John Ydstie

As Fed chair, Janet Yellen helped the central bank largely achieve its mandate to engineer full employment while keeping inflation at a level that fosters growth.

Jerome Powell was nominated to the Federal Reserve Board by former President Barack Obama in 2012.

Trump Picks Federal Reserve Insider Jerome Powell To Be Its Chairman

6:16pm November 02, 2017

by John Ydstie

President Trump has named Federal Reserve Gov. Jerome Powell to head the U.S. central bank. If confirmed by the Senate he will succeed Janet Yellen, the first woman to serve in the Fed's top post.

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President Trump could ask Janet Yellen to stay on as the Federal Reserve chair, but other names are also circulating.

Next Fed Chair Will Help Determine Pace Of Interest Rate Hikes

6:10pm October 25, 2017

by John Ydstie

President Trump could ask Janet Yellen to stay on as Fed chair, but other names are also circulating. Will the next chief lead the central bank to boost rates more quickly than currently planned?

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Economy

The Fed Sees 'Diminished Risks' In The Economy, Keeps Interest Rates Steady

3:39pm July 27, 2016

by Jim Zarroli

Federal Reserve officials are sounding more optimistic about economic growth, even though business investment remains "soft."