Tag: US Federal Reserve

• Friday, February 9th 2018 - 20:26 UTC

  Fed member forecasts three interest rate hikes this year

  

  The U.S. Federal Reserve is likely to continue removing policy accommodation gradually and could hike rates three times this year, Dallas Fed President Robert S. Kaplan told a business conference in Frankfurt on Thursday.

• 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.

• Saturday, August 12th 2017 - 12:46 UTC

  July inflation in US at 0.1% and the annual rate stands at 1.7%

  

  Prices in the United States rose by less than expected last month, as inflation in the economy remained tame. The Labor Department's Consumer Price Index (CPI) inched up 0.1% last month, only a slight improvement on a stagnant June figure. Economists polled by Reuters had expected a 0.2% month-on-month increase.

• 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, 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.

• Saturday, January 7th 2017 - 08:42 UTC

  Obama's legacy, a robust jobs market with wage growth accelerating

  

  US businesses added 156,000 jobs in December in the last release of key economic data before Donald Trump is sworn in as US president. The number of jobs created fell from an upwardly revised 204,000 in November and came in below market expectations of 175,000 new roles. The jobless rate edged up last month to 4.7% from 4.6%.

• Tuesday, December 20th 2016 - 06:51 UTC

  US labor market “the strongest in more than a decade”, Yellen tells graduating class

  

  The United States labor market is in the best condition in last decade said the chairman of the Federal Reserve Janet Yellen during a speech to the graduating class at the University of Baltimore. Fed chairman said that the signs of healthy labor market are abundant, among which stand out the stable rate of creation of new jobs and lower share of cuts.

• Friday, April 15th 2016 - 09:04 UTC

  US regulators reject “too big to fall” banks proposals in case of another major 'blackout'

  

  US regulators have rejected the plans of five big US banks for closing their operations in the event of a crisis. Banks labeled “too big to fail” must have a so called “living will” that would allow them to close down without the help of public money. Bank of America, Bank of New York Mellon, JPMorgan Chase, State Street and Wells Fargo have until 1 October to submit improved plans.

• Thursday, November 26th 2015 - 07:31 UTC

  U.S. economy picks up in third quarter but down from same period in 2014

  

  The U.S. economy grew at a slightly faster pace in recent months than first thought, as businesses restocked their goods. U.S. Commerce Department said the world's largest economy advanced 2.1% in the July-to-September period, up from an initial estimate of 1.5%.