Jerome Powell, President Donald Trump’s pick to lead the Federal Reserve, pledged to pursue the U.S. central bank’s goals of stable prices and maximum employment while keeping a watchful eye on financial sector risks.
Trump, who has said he’ll announce his pick Thursday, would be choosing a former private-equity executive who favors continuing gradual interest-rate increases and sympathizes with White House calls to ease financial regulations.
With a new Federal Reserve leader about to be announced, the Fed is hinting that it's preparing to resume raising rates as the economy shakes off the effects of recent hurricanes.
In Jerome Powell, President Donald Trump would be selecting a policymaker with a reputation as a moderate whose stance on interest rate increases would likely deviate little from Janet Yellen’s cautious approach.
President Donald Trump said he’s narrowed his Federal Reserve decision to “two and maybe three people” and an announcement will come in a “very short period of time.”
President Donald Trump said he plans to choose from among five finalists to be the next Federal Reserve chair and will make his decision soon.
Federal Reserve Chairwoman Janet Yellen on Sunday sketched a bright outlook for the U.S. economy and for inflation prospects in coming months, saying the impact of the recent hurricanes will likely slow economic growth slightly but only temporarily.
Federal Reserve Chairwoman Janet Yellen on Friday defended the web of regulations the Fed helped enact after the 2008 financial crisis, disputing criticism that the rules have hurt lending.
With the prospect of new leadership at the Federal Reserve within months, investors will be listening for any hint of shifting interest rate plans from the policymakers.
The Fed noted Wednesday that inflation has stayed undesirably low even though the job market keeps strengthening. Many economists say they foresee no further rate increases this year unless inflation picks up.
Federal Reserve Chairwoman Janet Yellen told Congress on Wednesday that the central bank expects to keep raising a key interest rate at a gradual pace and also plans to start trimming its massive bond holdings this year.
The Federal Reserve has raised its key interest rate for the third time in six months, providing its latest vote of confidence in a slow-growing but durable economy.
There isn’t much suspense about what the Fed will announce regarding a rate hike when its latest policy meeting ends Wednesday. But economic observers are watching for additional reasons.
Though widely expected to raise rates this week, Fed policy makers are being pulled in two directions by a spirited drop in unemployment this year and a surprisingly listless reaction in wages and prices.
A statement the Fed issued Wednesday after its latest policy meeting noted that the economy slowed sharply during the January-March quarter but that it expects that slump to be “transitory.”
Federal Reserve Chairwoman Janet Yellen did not specifically address the timing for future rate hikes, but her remarks support the view that future hikes are coming.
The move reflects a consistently solid U.S. economy and will likely mean higher rates on some consumer and business loans.
Federal Reserve Chairwoman Janet Yellen said in a speech in Chicago that the Federal Reserve expects steady economic improvement to justify additional rate increases.
Federal Reserve Chairwoman Janet Yellen said more interest-rate increases will be appropriate if the U.S. economy meets the central bank’s outlook of gradually rising inflation and tightening labor markets.
New projections show the central bankers expect three separate quarter-point rate increases in 2017, up from the two seen in the previous forecasts.