Tag: Federal Reserve

Monday, July 27th 2020 - 09:07 UTC
White House advisor predicts US economy will recover 20% in III and IV quarters

The US economy will grow on the order of 20% in the third and fourth quarters, a top White House economic adviser predicted on Sunday, despite reopening setbacks linked to a coronavirus resurgence.
Wednesday, July 15th 2020 - 08:57 UTC
US consumer prices rebounded 0,6% in June; gasoline climbed 12,3% after sliding the previous five months

US consumer prices rebounded by the most in nearly eight years in June, but a resurgence in new COVID-19 cases after the reopening of businesses suggests moderation in demand that could keep inflation muted and allow the Federal Reserve to keep injecting money into the ailing economy.
Thursday, July 9th 2020 - 08:55 UTC
Federal Reserve officials raise doubts about US recovery durability

Federal Reserve officials raised fresh doubts on Wednesday about the durability of the U.S. recovery, while new business surveys highlighted developing risks from the relentless coronavirus pandemic.
Thursday, June 11th 2020 - 13:17 UTC
Fed anticipates near zero rate through 2022 and will keep buying bonds

The United States Federal Reserve says it will keep buying bonds to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed's policymakers foresee no rate hike through 2022.
Monday, May 18th 2020 - 08:15 UTC
Fed chief forecasts US economy could easily contract 20 to 30% this quarter

The business shutdowns caused by the coronavirus pandemic could “easily” cause the US economy to collapse by 20 to 30% this quarter, Federal Reserve Chair Jerome Powell said on Sunday. Data show more than 30 million jobs were destroyed in the world's top economy, as businesses were shuttered nationwide amid the efforts to stop the spread of COVID-19.
Wednesday, May 13th 2020 - 07:37 UTC
Fed says US households will need more fiscal support and forecasts 20% unemployment

United States businesses and households are going to need more fiscal support to get through what will likely be a longer period of recovery from the coronavirus shutdown than initially expected, Federal Reserve policymakers said on Tuesday.
Thursday, April 30th 2020 - 07:48 UTC
US economy down 4.8% in first quarter and an “unprecedented” drop forecasted for the second quarter

The U.S. central bank that has already slashed interest rates to zero reiterated on Wednesday they will stay there until the economy is clearly back on track. It has also rolled out around US$ 2 trillion in lending commitments, and Fed chief Jerome Powell said it was ready to do more as needed.
Thursday, April 30th 2020 - 07:28 UTC
Fed admits public health situation will “weigh heavily on economic activity, jobs and inflation”

The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only “weigh heavily” on the near-term outlook but poses “considerable risks” for the medium term as well.
Tuesday, April 7th 2020 - 07:50 UTC
COVID-19 hits hard US economy, with millions of jobs lost, but the dollar remains king

The COVID-19 outbreak in the United States has caused millions of people to lose their jobs and brought the economy to its knees but it has not dethroned the American dollar. On the contrary, the currency has risen in value this year, gaining six percent from its lowest point reached in early March, according to the US dollar index, which measures the greenback's value against a basket of other currencies.
Monday, March 16th 2020 - 11:19 UTC
G7 global rescue: Fed cuts rates to almost zero and launches US$ 700bn stimulus program

The US has cut interest rates to almost zero and launched a US$ 700bn stimulus program in a bid to protect the economy from the effect of coronavirus. It is part of a coordinated action announced on Sunday in the UK, Japan, the Eurozone, Canada, and Switzerland.