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 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 […]

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 […]

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 […]

Powell casts himself as a figure of stability for the Fed

BC-APFN-US–Fed-Powell Confirmation,1st Ld-Writehru Nov 28, 2017 3:48AM (GMT 09:48) – 747 words By MARTIN CRUTSINGER ,  AP Economics Writer Eds: Widens audience. Hearing scheduled to begin at 9:45 a.m. EST. With AP Photos. Freshens summary. WASHINGTON (AP) — Jerome Powell says that if confirmed as the next chairman of the Federal Reserve, he expects the […]

Global stocks push higher after Fed, Dutch election results 

LONDON (AP) — Global stocks pushed higher Thursday in the wake of relatively dovish comments from the U.S. Federal Reserve that accompanied another rate hike and amid relief over the Dutch election result. KEEPING SCORE: In Europe, Germany’s DAX was up 0.6 percent at 12,082 while France’s CAC-40 rose 0.5 percent to 5,009. London’s FTSE […]

Markets cautious ahead of Fed announcement 

WASHINGTON (AP) — The Latest on the Federal Reserve’s monetary policy meeting (all times local): 6:00 a.m. Trading in stock markets is cautious and the dollar is slightly weaker as investors look ahead to an expected interest rate increase by the Federal Reserve. Because the increase is widely expected, a key point of focus will […]

Yellen to speak after Fed officials hint rate hike is near 

MARTIN CRUTSINGER, AP Economics Writer WASHINGTON (AP) — One by one, several Federal Reserve officials have signaled in recent days that the Fed is ready to resume raising interest rates as soon as this month. The question is whether the official who matters most — Chair Janet Yellen — will add her own voice to […]