Federal Reserve

Economy

The Fed Helped Companies Borrow Money. Some Laid Off Thousands Anyway

3:50pm June 10, 2020

by Jim Zarroli

Companies can borrow money from the Federal Reserve under its new lending programs. It's been good for the stock market, but the central bank's effort to help the economy has had lopsided results.

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The Senate Banking Committee on Tuesday heard testimony about coronavirus economic relief efforts from Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell.

Senators Clash Over How Soon To Reopen The Economy

3:18pm May 19, 2020

by Scott Horsley

Lawmakers squabbled over how quickly the economy can rebound from the coronavirus shutdown and whether the government is doing enough to support struggling families and businesses.

Federal Reserve Chairman Jerome Powell says while the coronavirus is likely to cause Depression-era levels of unemployment, the economy should recover faster than it did in the 1930s.

Fed's Powell Says Sharp Downturn Won't Last

11:09am May 18, 2020

by Scott Horsley

Fed Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the pandemic. But he says this will not be another Great Depression.

Federal Reserve Chairman Jerome Powell said the economy should recover once the coronavirus is under control. But he cautioned that without more help, many small businesses may not survive that long.

Fed Chief Says More Relief Spending May Be 'Costly, But Worth It'

11:38am May 13, 2020

by Scott Horsley

Jerome Powell said the economy should recover once the coronavirus is under control. But the central bank chief cautioned that without more help, many small businesses may not survive that long.

Why The Crisis May Make Powerful Corporations Even More Powerful

11:01am May 12, 2020

by Greg Rosalsky

As small businesses scramble for emergency assistance, big businesses get a new program of virtually endless lending from the Fed.

US Federal Reserve Chairman Jerome Powell

Why Is The Fed Sending Billions Of Dollars All Over The World?

6:30am April 21, 2020

by Greg Rosalsky

As COVID-19 causes a global meltdown, the world turns to the U.S. Federal Reserve.

Restaurants at Union Station in Washington, D.C., are closed. The Federal Reserve addressed several new lending programs in an effort to keep businesses and local governments afloat during the coronavirus pandemic.

Mission Critical To Save The Economy: Fed Goes Even Bigger With Massive Loan Help

11:54am April 09, 2020

by Scott Horsley

In its latest salvo, the Federal Reserve announced $2.3 trillion in new lending programs in an effort to keep businesses and local governments afloat during the coronavirus pandemic.

Led by Jerome Powell, the Federal Reserve has moved quickly and creatively to pump money into the rapidly shrinking U.S. economy.

Economy

Fed Goes All Out To Keep Economy Alive During Coronavirus Shutdown

5:00am April 06, 2020

by Scott Horsley

The Federal Reserve has moved quickly and creatively to pump money into the rapidly shrinking U.S. economy in hopes of keeping it afloat long enough to outlast the coronavirus pandemic.

Federal Reserve Chairman Jerome Powell has been a frequent target of President Trump, who has urged the central bank to slash interest rates more aggressively.

Economy

Fed Cuts Rates To Near Zero As Coronavirus Rips Through Economy

7:51pm March 15, 2020

by Avie Schneider

The Federal Reserve cut its key interest rate to near zero — a dramatic move not seen since the depths of the 2008 financial crisis. President Trump — who has slammed the Fed — praised the move.

U.S. stock indexes rose sharply on Monday in anticipation of the Federal Reserve's interest rate cut, but stocks fell again on Tuesday after the Fed acted.

Economy

Dow Plunges Nearly 800 Points, Despite Fed Rescue Attempt

5:54pm March 03, 2020

by Jim Zarroli

The Federal Reserve cut interest rates by the largest amount since the 2008 financial crisis, but the emergency move failed to mollify investors worried about the coronavirus epidemic.

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