Tag: Federal Reserve

• Wednesday, March 21st 2018 - 20:25 UTC

  Powell's Fed confirms gradualism: anticipates 5 more modest rate increases in next 21 months

  

  The Federal Reserve is raising its benchmark interest rate to reflect a solid U.S. economy and signaling that it's sticking with a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell. The Fed said it expects to increase rates twice more this year. At the same time, it increased its estimate for rate hikes in 2019 from two to three, reflecting an expectation of faster growth and lower unemployment.

• Wednesday, February 28th 2018 - 09:53 UTC

  Fed chairman Powell anticipates gradual interest rate increases despite larger government spending

  

  Federal Reserve Chairman Jerome Powell, pledging to “strike a balance” between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.

• Wednesday, February 7th 2018 - 15:23 UTC

  Powell becomes chairman of the Fed in a turbulent trading day

  

  Jerome Powell was sworn as the 16th chairman of the Federal Reserve on what turned out to be a turbulent day for Wall Street, with the Dow Jones industrial average plunging by more than 1,100 points. Powell, 65, was given the oath of office by Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that took place before stock trading opened on Wall Street.

• Thursday, December 14th 2017 - 13:54 UTC

  Federal Reserve increases interest rate by a quarter of a point

  

  The US Federal Reserve has increased interest rates by a quarter of a percentage point - the third rate hike this year. It comes as Fed chair Janet Yellen prepares to leave the role
  after Donald Trump decided to replace her.

• Wednesday, November 29th 2017 - 08:10 UTC

  Fed chief candidate anticipates US economy is ready to end “accommodation”

  

  Jerome “Jay” Powell, President Donald Trump's pick to lead the US central bank, the Federal Reserve, is about to become “the most important economic policymaker in the world”. At least that's how one senator put it at Powell's confirmation hearing in Washington on Tuesday.

• Saturday, November 11th 2017 - 09:07 UTC

  Fed member anticipates rates likely to rise next month and three times in 2018

  

  United States interest rates are likely to rise again next month and a further three times next year, one of the Federal Reserve's rate-setters has said. John Williams, who sits on the lliams, advanced a rate rise in December “makes sense, at least based on the information I have today”.

• Thursday, November 2nd 2017 - 08:12 UTC

  Trump expected to announce “centrist” Jerome Powell, as next head of the Fed

  

  President Donald Trump has said he will announce on Thursday his choice to lead the seven/member Federal Reserve board beginning in February. Jerome Powell, a Fed board member, is assumed to be the top contender and Trump anticipated that “I think you will be extremely impressed by this person”.

• Wednesday, October 18th 2017 - 08:24 UTC

  The Fed started to reduce its US$4 trillion boost portfolio from the financial crisis

  

  The Federal Reserve has started to run down some of the investments it made to boost the US economy after the financial crisis. The Fed holds a US$4.2trn portfolio of US Treasury bonds and mortgage-backed securities, and it will initially cut up to US$10bn each month from the amount it reinvests.

• Thursday, September 7th 2017 - 18:39 UTC

  Stanley Fischer is stepping down from the Federal Reserve next month

  

  The United States Federal Reserve Vice Chairman Stanley Fischer will resign next month for personal reasons, leaving a fourth vacancy on the seven-member Fed governing board. Fischer is a widely-respected economist who taught at MIT, was head of the Bank of Israel for eight years and vice chairman at Citigroup.

• Wednesday, August 30th 2017 - 08:14 UTC

  Euro at its strongest against the US dollar for the first time since 2015

  

  The Euro has hit US$1.20 for the first time since January 2015 as the prospect of a US interest rate rise recedes. Hurricane Harvey's impact has led analysts to assume the US central bank will not want to risk curbing economic growth and fears over North Korea's activities have unnerved investors.