Fed keeps key rate near zero, sees inflation as ‘transitory’

WASHINGTON (AP) — The U.S. economy is quickly strengthening, inflation is showing signs of picking up and the nation is making progress toward defeating the viral pandemic. But on Wednesday, Chair Jerome Powell made clear that the Federal Reserve isn’t even close to beginning a pullback in its ultra-low interest rate policies. In a statement […]

Dark Meetings, Dark Operations, Part 2 of 6: Was this dark meeting of the United States Senate the most damaging in American history?

Dark Meetings, Dark Operations, Part 2 of 6: Was this dark meeting of the United States Senate the most damaging in American history?

Image: Former United States Congressman Ron Paul, Republican of Lake Jackson, spoke about the economic damage the Federal Reserve Board has caused on CNBC in October, 2019, and on many other occasions. The Golden Hammer Staff Reports Conroe and Washington, D.C., February 2 – Government is no longer for the people. Rather, government meets and operates […]

Fed sees rates near zero through 2023, perhaps longer

WASHINGTON (AP) — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer. Fed chair Jerome Powell said at a press conference that while the economy has rebounded more quickly […]

Fed’s Powell says new lending programs to launch by June 1

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that the Fed’s lending programs for medium-sized businesses and state and local governments would begin operating by the end of this month. Powell said that while the Fed has received a “good deal of interest” in those programs, if not enough companies or state and […]

Fed takes emergency steps to slash rates and ease bank rules

WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds. The Fed’s surprise announcement signaled its rising concern that the viral outbreak will depress […]

Asian stocks follow Wall Street lower before US Fed release

BEIJING (AP) — Asia stock markets followed Wall Street lower Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts. Benchmarks in Tokyo, Shanghai and Australia declined while South Korea advanced. U.S. stocks fell Tuesday after another slide in bond yields […]

Fed cuts key rate for first time in more than a decade

WASHINGTON (AP) — The Federal Reserve Board of Governors cut its key interest rate Wednesday for the first time in a decade. It left open the possibility of future rate cuts, but perhaps not as many as Wall Street had been hoping for. During a news conference, Chairman Jerome Powell struggled to find just the […]

Trump says he will tap economists for 2 key Fed vacancies

WASHINGTON (AP) — President Donald Trump, who has criticized the Federal Reserve for not cutting interest rates, said Tuesday that he intends to nominate two economists to fill influential positions on the central bank’s Board of Governors. Trump said he would name to the board Christopher Waller, who is executive vice president and research director […]

Powell hints Fed will cut rates if needed over trade wars

WASHINGTON (AP) — Chairman Jerome Powell said Tuesday that the Federal Reserve is prepared to respond if it decides the Trump administration’s trade conflicts are threatening the U.S. economy. Investors read his remarks as a signal that the Fed will likely cut interest rates later this year. Powell’s remarks helped drive up stock prices, with […]

Trump to nominate Herman Cain for Fed Reserve Board

WASHINGTON (AP) — President Donald Trump said Thursday that he intends to nominate Herman Cain, a conservative political ally and former presidential candidate, for a seat on the Federal Reserve board. “I’ve told my folks that’s the man,” Trump told reporters in the Oval Office, adding that Cain is undergoing background checks before a nomination. […]