Powell reinforces Fed’s cautious approach toward further interest rate hikes
At the same time, in a panel discussion at the International Monetary Fund, Powell did not rule out another rate hike to help reduce inflation to the Fed’s 2% target level.
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First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
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UPDATE: Fed leaves key rate unchanged but keeps open possibility of future hike
Policymakers are grappling with how much more pressure to keep on an economy that has largely shrugged off the central bank’s moves to slow it down.
Fed chief says slower economic growth likely needed to conquer stubbornly high inflation
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high.
Fed officials signal cautious approach to rates amid heightened uncertainty
Federal Reserve officials regarded the U.S. economy’s outlook as particularly uncertain last month, according to minutes released Wednesday, and said they would “proceed carefully.”
Higher gasoline prices lift Federal Reserve’s preferred inflation gauge
Excluding volatile food and energy prices, “core” inflation rose by the smallest amount in nearly three years, evidence that inflation pressures continue to ease.
Fed leaves rates unchanged as it debates economy’s next steps
The Federal Reserve signaled one more hike was possible this year, as central bankers shift their focus toward how long they’ll keep rates high and when they’ll decide there has been enough progress on their inflation fight.
Federal Reserve expected to leave its key interest rate unchanged
Further clues about the future path of the Fed’s interest rate policy could emerge at a news conference Wednesday after the central bank issues a policy statement and its quarterly economic projections.
Global inflation pressures could become harder to manage in coming years, research suggests
Rising trade barriers, aging populations and broad transition to renewable energy are trends that could make it harder for the Federal Reserve and other central banks to meet their inflation targets.
Powell: Economy’s solid growth could require additional Fed hikes to fight inflation
In a closely watched speech at Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell said the economy has been growing faster than expected and consumers are spending briskly—trends that could keep inflation pressures high.
Fed minutes: Too-high inflation still a threat, could require more rate hikes
Most Federal Reserve officials last month still regarded high inflation as an ongoing problem that could require further interest rate increases, according to the minutes of their July 25-26 meeting released Wednesday.
Federal Reserve raises its key rate for 11th time in 17 months
In raising the benchmark short-term interest rate to its highest level since 2001, the Fed provided little guidance about when—or whether—it might hike rates again.
A Fed still wary of inflation set to raise rates to 22-year peak
The Federal Reserve’s increase would be its 11th hike in 17 months. As with its previous rate hikes, this one would likely further elevate the costs of mortgages, auto loans, credit cards and business borrowing.
Paychecks could clear faster now that FedNow service for banks has launched
The Federal Reserve launched a new instant payment service Thursday. FedNow allows banks and credit unions to sign up to send real-time payments so they can offer customers a quicker way to send money between banks.
Purdue names well-known economist, Fed leader as first dean of Daniels School of Business
Jim Bullard has spent the last 15 years as president and CEO of the Federal Reserve Bank of St. Louis, making him the longest-serving sitting president of a Federal Reserve bank.
Inflation gauge tracked by the Federal Reserve falls to lowest point in 2 years
Last month’s progress in easing overall inflation was tempered by an elevated reading of “core” prices, a category that excludes volatile food and energy costs.
Federal Reserve might tighten financial rules due to bank failures, Powell says
Such proposals are likely to face resistance from the banking industry and some congressional Republicans, who argue that the Fed had the necessary tools to prevent the bank collapses but failed to use them.
Fed’s Powell says one or two more rate hikes might be needed in 2023
Speaking on Capitol Hill for a second day, Federal Reserve Chair Jerome Powell said returning U.S. inflation to 2% is crucial to support the long-term health of the U.S. economy.
Fed’s Powell: More rate hikes likely this year to fight still-high inflation
The contrast between the Fed’s stated concern over still-high inflation and its decision to skip a rate hike has heightened uncertainty about its next moves.
Powell to face hearings at time of rising uncertainty over interest rates
The two days of hearings before Congress will likely focus on the question that consumed the central bank last week: How far and how fast will the Fed raise its key interest rate from here?
Fed Chair Powell sees progress on inflation, though not enough
Chair Jerome Powell offered a nuanced view Wednesday of how the Federal Reserve intends to address its core challenge at a time when inflation is both way below its peak but still well above the central bank’s 2% target.