Tag: Powell, Jerome H

Fed Votes to Lighten Regulations for All but the Largest Banks

Federal Reserve Board members voted on Thursday to adjust key bank regulations put in place after the financial crisis, enacting a series of changes that one board governor, Lael Brainard, warned could weaken “core safeguards.” Regulators are tying rules more closely to bank size, reducing the necessary level of cash and government bond stockpiles at […]

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Fed Officials Voice Concern About Slowdown’s Effect on Hiring

WASHINGTON — Several Federal Reserve policymakers, at their most recent meeting, voiced concern that weaker business activity and investment could lead to slower hiring and consumer spending, according to minutes of the meeting published on Wednesday. The Fed cut interest rates for a second time this year at that meeting, in mid-September, after a reduction […]

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The Fed Is Poised to Cut Rates Again. Here’s What to Watch.

WASHINGTON — Federal Reserve officials are expected to cut interest rates for a second time on Wednesday, a move that could prove divisive among Fed officials and aggravate President Trump’s anger toward the central bank. The Fed’s rate decision, which will be announced at 2 p.m. in Washington, will be accompanied by a fresh set […]

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Trump Calls for Fed’s ‘Boneheads’ to Slash Interest Rates Below Zero

WASHINGTON — President Trump urged the Federal Reserve to cut interest rates below zero, suggesting a last-ditch monetary policy tactic tested abroad but never in America. His comments came just one day before European policymakers are widely expected to cut a key rate further into negative territory. In a series of tweets, Mr. Trump said […]

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Only China Can Save Us Now

In the last few weeks, the world economy has seen worrying turmoil. Whether or not a recession is imminent, there has certainly been a collapse of confidence. What has investors so rattled? There are long-term factors in play, like demographic trends and a slowdown in technological change. But what seems finally to have dawned on […]

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Only the Fed Can Save Us

Here’s the moment I realized the next financial crisis is inevitable. It wasn’t Aug. 23, when the president wondered who was our “bigger enemy,” Jerome Powell, the chair of the Federal Reserve Board, or President Xi Jinping of China. It wasn’t the week before those comments, when it looked as if the trade war would […]

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Amid Recession Worries, Trump Points Finger at American Businesses

WASHINGTON — President Trump wants Americans to understand that the economy is doing great, thanks to him. But if in fact the economy sours, then it is someone else’s fault. Mr. Trump’s Blame List is long. On top, of course, is Jerome H. Powell, the chair of the Federal Reserve — never mind that Mr. […]

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Will America Talk Itself Into a Recession? Trump’s Advisers Are Worried

President Trump’s economic advisers do not see a recession on the horizon, but they worry that gloomy news reports and a drumbeat of recession warnings could turn fear of one into reality. In an interview on Thursday, the acting chairman of Mr. Trump’s Council of Economic Advisers, Tomas Philipson, said that reporters who have fixated […]

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Trump and the Art of the Flail

The “very stable genius” in the Oval Office is, in fact, extremely unstable, in word and deed. That’s not a psychological diagnosis, although you can make that case too. It’s just a straightforward description of his behavior. And his instability is starting to have serious economic consequences. To see what I mean about Trump’s behavior, […]

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Trump Faces a Stubborn Opponent in Fed’s Economic Experts

JACKSON, Wyo. — President Trump characterizes himself as a master deal maker who gets what he wants. But as he tries to pressure the Federal Reserve to lower interest rates, he is contending with a powerful opponent: technocrats. The Fed lowered borrowing costs in July amid mounting trade uncertainties, but it has refused to promise […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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. […]

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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 […]

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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 […]

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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 […]

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