federal reserve

  • federal reserve Jan 29

    Fed Leaves Key Rate Alone But Sees Virus Among Global Risks

    The Federal Reserve kept its key interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats, including from China’s viral outbreak. The Fed sketched a mostly bright picture of the U.S. economy in a statement it released after its latest policy meeting. Yet it also cautioned that it would monitor...

  • personal finance Dec 11, 2019

    Fed Keeps Rates Unchanged. Here’s Exactly What That Means to You

    The Federal Reserve’s decision Wednesday to keep interest rates steady put the cap on a tumultuous year for consumers. After raising the federal funds rate nine times in three years, with the last hike just one year ago as financial markets were melting down, concerns about a slowing economy and a looming U.S.-China trade war then caused the U.S. central...

  • Paul Volker Dec 9, 2019

    Paul Volcker, the Carter-Reagan Fed Chairman Who Beat Inflation, Dies at Age 92

    Paul Volcker, who as chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan helped tame inflation with 22% interest rates that also crunched American manufacturing, farming, and real estate but led the way to two decades of expansion, has died. He was 92. He died on Sunday, according to The New York Times and The Washington Post.

  • United States Mar 22, 2019

    The Bond Market Is Flashing Its Biggest Recession Sign Since Before the Financial Crisis

    Federal Reserve Chairman Jerome Powell’s assertion this week that the U.S. economy remains strong is facing a stern test from the bond market, which showed a classic recession sign Friday morning. Short-term government fixed income yields are now ahead of the longer part of the curve, delivering a strong recession indication that hasn’t happened since 2007.

  • Donald Trump Jan 31, 2019

    Trump Considering Former Presidential Hopeful Herman Cain for the Fed

    Former presidential candidate and Godfather’s Pizza CEO Herman Cain is under consideration for a Federal Reserve governorship, CNBC has confirmed. Cain, 73, is a former chairman of the Kansas City Fed, having served at the bank from 1989-96 before leaving to pursue political activities full time. Cain met with President Donald Trump on Wednesday at the White House, where he...

  • United States Sep 20, 2018

    Stock Market Brings Record US Household Wealth, Mainly for Rich

    A rising stock market lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, the culmination of a decade of economic recovery but a gain that is concentrated largely among the most affluent. The value of Americans’ stock and mutual fund portfolios rose $800 billion, while home values increased $600 billion, the Federal Reserve said Thursday. Total...

  • cellular telephone Jul 18, 2018

    Pay Down Debt or Save Money? How to Allocate Your Cash

    It’s one of the most common questions financial advisers hear: should I prioritize paying down debt or building up savings? Americans have a cozy relationship with debt — student loans, credit cards and car loans are commonplace. The Federal Reserve said that consumer borrowing rose $24.5 billion in May alone to hit almost $3.9 trillion. And that doesn’t include mortgage...

  • United States Feb 6, 2018

    Dow Falls More Than 1,100 Points In Historic Selloff

    The Dow Jones industrial average plunged as much as 1,500 points Monday in one of the most historic routs in stock market history. Michael George reports.

  • United States Feb 2, 2018

    Federal Reserve Imposes New Penalties on Wells Fargo

    The Federal Reserve said Friday it is restricting Wells Fargo’s size in response to “widespread consumer abuses.” As a result, Wells Fargo plans to replace three directors by April and a fourth by the end of the year, CNBC reported. Shares of the bank fell more than 2 percent in after-hours trading. Read More

  • United States Jan 9, 2018

    Credit Card Debt Hits New Record High: Federal Reserve

    U.S. consumer borrowing jumped 8.8 percent in November, the most in more than two years, a sign of growing confidence in the economy. The Federal Reserve said Monday that Americans added nearly $28 billion in credit card, student, auto and other debt in November. That brought outstanding consumer debt to a total of $3.83 trillion. And a category of debt...

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