Tag: Federal Reserve System

Fed Focused on Coronavirus Fallout at January Meeting

WASHINGTON — Federal Reserve officials left interest rates unchanged at their January meeting as the economy grew steadily, but they spent their meeting reviewing risks to the outlook — including fresh concerns about the coronavirus that had begun to take hold in China. Minutes from the Fed’s Jan. 28 and 29 meeting showed that officials […]

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How Millennials Could Make the Fed’s Job Harder

WASHINGTON — “They say millennials are lazy,” billboards plastered across 15 major cities declared last summer. “Retire early and prove them right.” That sentiment, reflected in ads for the investment manager Prudential, is the stuff of a 30-year-old’s fantasy — and the Federal Reserve’s nightmare. A young generation of aggressive savers could leave central bankers […]

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Fed Nominee Shelton Faces Tough Questioning Before Senate Committee

WASHINGTON — Judy Shelton, President Trump’s nominee for the Federal Reserve, faced tough questioning from lawmakers over whether she would protect the Fed’s independence during a tense confirmation hearing before the Senate Banking Committee on Thursday. Skepticism toward Ms. Shelton appeared to be bipartisan, with Democrats suggesting she might be politically tied to Mr. Trump […]

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This Is No Way to Run a Central Bank

The Federal Reserve takes the Goldilocks view of economic growth: not too hot, not too cold. President Trump, by contrast, has made it clear that he wants the economy to grow as fast as possible in the short term, even if that increases the risk of an eventual crash. He wants lower interest rates. And […]

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As Powell Warns of Possible Fallout From Coronavirus, Trump Again Criticizes Fed Chair

WASHINGTON — Federal Reserve Chair Jerome H. Powell warned lawmakers on Tuesday that the coronavirus epidemic sweeping China could pose broader economic risks, even as he signaled that the central bank is comfortable holding interest rates steady for now. “We are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China […]

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Fed Chair Powell Warns of Possible Economic Fallout from Coronavirus

WASHINGTON — Federal Reserve Chair Jerome H. Powell will warn lawmakers on Tuesday that the coronavirus epidemic sweeping China could pose broader economic risks, even as he signals that the central bank is comfortable holding interest rates steady for now. “We are closely monitoring the emergence of the coronavirus, which could lead to disruptions in […]

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The Election Year Economy Is Everything Trump Could Hope For

ImageShipping containers in Long Beach, Calif. The U.S. economy continued to look strong in January, with hiring up and inflation tame.Credit…Bob Riha Jr/Reuters There was never much doubt that President Trump would make boasts about the economy central to his re-election campaign; that is his style, after all. What is becoming more clear is that […]

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Trump Called Powell an ‘Enemy.’ ‘Ugh’ Was a Response Inside the Fed.

WASHINGTON — President Trump’s nonstop attacks on the Federal Reserve have raised eyebrows and broken with recent presidential norms. But an Aug. 23 tweet in which Mr. Trump called the Fed chair, Jerome H. Powell, an “enemy” of America appears to have prompted some hand-wringing inside the central bank. “My only question is, who is […]

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How the Fed Chairman is Shielding It From Trump

WASHINGTON — Jerome H. Powell has spent much of his life toiling quietly behind the scenes, first as an investment banker and later as a governor at the Federal Reserve. Even as the central bank’s chair, and arguably the global economy’s most important figure, he has maintained a low-key image. He’s an avid cyclist who […]

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Ordinary or ‘Enemy’? How Jay Powell Is Positioning the Fed in a Fraught Era

WASHINGTON — Jerome H. Powell has spent much of his life toiling quietly behind the scenes, first as an investment banker and later as a governor at the Federal Reserve. Even as the central bank’s chair, and arguably the global economy’s most important figure, he has maintained a low-key image. He’s an avid cyclist who […]

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