Federal Reserve Chair Jerome Powell working from home after testing positive for COVID-19
Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and is experiencing related symptoms.
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Fed’s Powell downplays potential for a rate hike despite higher price pressures
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again.
Federal Reserve says interest rates will stay at two-decade high until inflation further cools
WASHINGTON (AP) — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably to its 2% target.
Stock market today: Asian benchmarks are mixed while US seems committed to current rates
Asian shares were trading mixed Wednesday, as expectations resurfaced that U.S. interest rates may stay high for a while.
Fed’s Powell: Elevated inflation will likely delay rate cuts this year
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year, opening the door to a period of higher-for-longer interest rates.
A top Federal Reserve official opens door to keeping rates high for longer
WASHINGTON (AP) — Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central bank’s key rate may have to remain at its peak for a while to bring down persistently elevated inflation.
Key question before US reveals latest consumer prices: Is inflation cooling enough for the Fed?
WASHINGTON (AP) — An eagerly awaited report Wednesday on consumer prices will show whether inflation is still easing, a trend the Federal Reserve will weigh in deciding when and by how much — or even whether — to cut interest rates this year.
Powell: Fed still sees rate cuts this year; election timing won’t affect decision
WASHINGTON (AP) — Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February.