Tag: Janet Yellen

• 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, 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.

• Thursday, July 27th 2017 - 16:41 UTC

  Trump's economic advisor Gary Cohn considered as possible next Fed chair

  

  United States President Donald Trump named two possible candidates to run the Federal Reserve over the next few years: current Fed Chair Janet Yellen and Trump's economic adviser Gary Cohn, according to an interview with The Wall Street Journal.

• Thursday, July 27th 2017 - 16:34 UTC

  Fed leaves rate unchanged but will begin selling assets “relatively soon”

  

  Leaders of the U.S. central bank said Wednesday that they were holding their benchmark lending rate at a low level — in a range between 1 and 1.25% — for the time being. Federal Reserve officials said in a report issued after their two-day policy meeting that the world's largest economy was growing at a “moderate” pace and the job market was improving, but that inflation remained a bit low.

• Thursday, May 4th 2017 - 05:54 UTC

  Fed says recent slowdown of US economy growth is temporary; leaves benchmark rate unchanged

  

  The Federal Reserve announced on Wednesday that it held its benchmark interest rate after a two-day policy meeting, as had widely been expected. And it added that the recent showdown in US growth is likely temporary.

• Saturday, April 15th 2017 - 09:37 UTC

  Trump backtracks: China is not a currency manipulator, and praises Janet Yellen

  

  President Donald Trump has said his administration will not label China a currency manipulator, rowing back on a campaign promise. The US president also left open the possibility of re-nominating Janet Yellen as the head of the Federal Reserve, despite having criticized her.

• Thursday, March 16th 2017 - 12:06 UTC

  Fed raises interest rate by a quarter of a point: second time in three months

  

  U.S. Federal Reserve raised interest rates on Wednesday for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank's target. The decision to lift the target overnight interest rate by 25 basis points to a range of 0.75% to 1.0% marked a convincing step in the Fed's effort to return monetary policy to a more normal footing.

• Monday, March 13th 2017 - 14:40 UTC

  Federal Reserve expected to raise interest rate on Wednesday

  

  Robust hiring by United States employers in President Donald Trump's first full month in power, along with rising wages, have economists tipping a faster-than-anticipated cycle of interest rate increases by the US Federal Reserve, beginning this week.