Tag: Powell, Jerome H

One Crazy Day Showed How Political Chaos Threatens the World Economy

ImageJerome Powell, the Federal Reserve chairman, left, and Mark Carney, governor of the Bank of England, in Jackson, Wyo., on Friday.CreditAmber Baesler/Associated Press The series of economic and financial developments on Friday was a strange, bewildering, exhausting microcosm of why the global economy is at risk of a meltdown. It showed the odd interplay at […]

Read More

A Gyrating Economy, and Trump’s Volatile Approach to It, Raise Alarms

BIARRITZ, France — President Trump has again tossed out the economic and political playbook that guided other occupants of the Oval Office for generations as the United States dominated the flow of goods and services across the world. In the space of a few hours, he declared that his own central bank chief was an […]

Read More

As Trump Calls for Cuts, Powell Stresses Limits of Fed Policy

Jerome H. Powell, the Federal Reserve chair, kept future interest rate cuts squarely on the table on Friday while stressing that the central bank’s powers to right the economy were limited by President Trump’s trade policies, which continue to pose risks to the economic outlook. “While monetary policy is a powerful tool that works to […]

Read More

Stocks Dip After China Announces Retaliatory Tariffs on U.S. Goods

Wall Street stocks dipped and major European indexes fell on Friday after Beijing said it would answer President Trump’s next round of tariffs on Chinese goods by increasing tariffs on American imports, the latest sign that the trade war between the two countries could drag on. Dow Jones industrial average and S&P 500 futures had […]

Read More

Central Bankers Want to Keep Economies Growing, but Politicians Hold the Keys

JACKSON, Wyo. — As top economists from around the globe gather for their annual conference at Jackson Hole this week, they will have a collective hope in mind: That the world’s political leaders will work to help safeguard economic growth. Economies from the United States to the European Union to China are slowing, presenting a […]

Read More

Banks Want Efficiency. Critics Warn of Backsliding.

WASHINGTON — A decade after big banks needed government support to dig out of the financial crisis, the Federal Reserve is slowly, but steadily, making a series of regulatory changes that could chip away at new requirements put in place to prevent a repeat of the 2008 meltdown. Some of the changes, seemingly incremental and […]

Read More

In Economic Warning Signals, Trump Sees Signs of a Conspiracy

President Trump, confronting perhaps the most ominous economic signs of his time in office, has unleashed what is by now a familiar response: lashing out at what he believes is a conspiracy of forces arrayed against him. He has insisted that his own handpicked Federal Reserve chair, Jerome H. Powell, is intentionally acting against him. […]

Read More

Trump Plans More Tariffs for China. You’ll Feel This Round.

President Trump announced another wave of China tariffs this week, essentially saying he would impose a tax on nearly all $540 billion in Chinese goods that come into the United States in a year. And this batch could really bite. The administration carefully tailored previous rounds of tariffs to pinch businesses in ways that most […]

Read More

In the Fed’s Rate Cut, a Focus on Everyday Workers

WASHINGTON — The Federal Reserve’s decision to cut rates for the first time in more than a decade was driven, in part, by a recognition that policymakers have a role to play in the fate of American workers. Though the United States has experienced a record period of uninterrupted growth and unemployment is close to […]

Read More

How Democrats Will Attack Trump on the Economy

It took more than 90 minutes for the moderators of the Democratic presidential primary debate on Wednesday night to turn to the economy, which polls show is a top issue on voters’ minds and is one of President Trump’s strengths as he seeks re-election. The candidates wasted no time attacking him on it. Over two […]

Read More

Why the Fed Cut Rates: To Try to Fix Last Year’s Mistake

ImageTraders on the floor of the New York Stock Exchange watching Jerome Powell’s news conference on Wednesday.CreditBrendan Mcdermid/Reuters Several of the questions directed at Jerome Powell at his Wednesday afternoon news conference boiled down to this: Why did you just cut interest rates when, by your own acknowledgment, the American economy looks perfectly solid? What […]

Read More

What to Watch Ahead of the Fed Meeting

The Federal Reserve is almost universally expected to cut interest rates when its meeting wraps up on Wednesday, the first reduction since officials slashed them to near zero in 2008, during the dark days of the financial crisis. It’s a turning point, and a precautionary one. Uncertainty stirred up by President Trump’s trade war and […]

Read More

Time for the Fed to Cut Interest Rates

Even as the Federal Reserve has engineered the nation’s recovery from the 2008 financial crisis, Fed officials have lived in fear that too much job growth, too much wage growth — too much prosperity — would spark dangerous inflation. That is one reason there has not been enough job growth, wage growth or prosperity. In […]

Read More

S&P 500 Touches 3,000 as Stock Rally Powers On

The stock market hit a new high in its decade-long rally on Wednesday, as the benchmark S&P 500 stock index traded above 3,000 for the first time. Investors are cheering the potential for an interest-rate cut, which would make stocks more appealing. In prepared testimony before Congress on Wednesday, Jerome H. Powell, the Federal Reserve […]

Read More

Trump Dealt the Fed a Losing Hand. Now It’s Powell’s Play.

WASHINGTON — The Federal Reserve’s meeting this month was never going to be an easy one given that officials remain split over when — or whether — to cut interest rates. The last few weeks could set the Fed up for an even more difficult call. President Trump has put the Fed under a microscope, […]

Read More

Global Recession Risks Are Up, and Central Banks Aren’t Ready

Central bankers have a favorite mantra: Patch the roof while the sun is shining. But 10 years after the Federal Reserve worked alongside the European Central Bank and the Bank of Japan to bring the global economy back from the brink, their ability to prevent the next downturn is limited. Whether the world’s central banks […]

Read More

Trade War May Be Slowing Business Spending and Factories, Fed Says

WASHINGTON — Federal Reserve officials worry that the uncertainty caused by the trade war between the United States and China could be constraining business spending and may be contributing to a manufacturing slowdown that is dragging on growth. The concerns were outlined in the Fed’s semiannual Monetary Policy Report, released on Friday as Jerome H. […]

Read More

What to Expect From the June Jobs Report

A question has hung over the American economy for the past month: Was the sharp slowdown in job growth in May just another soft patch in a recovery that has set records for its durability? Or was it a warning of more significant trouble? Friday’s jobs report will help provide the answer. Economists expect the […]

Read More

Trump’s Feud With the Fed Is Rooted in Presidential History

President Trump has made heckling the Federal Reserve, and its chair, Jerome H. Powell, something of a sport. He has berated Mr. Powell for raising interest rates and taking steps to end a crisis-era stimulus program, likening the Fed to a powerful golfer who has “no touch” and cannot win. The past provides some precedent […]

Read More