Jerome Powell

  • US Economy Jun 12

    Fed to Keep Providing Aid and Sees No Rate Hike Through 2022

    Confronted with an economy gripped by recession and high unemployment, the Federal Reserve signaled Wednesday that it expects to keep its key short-term interest rate near zero through 2022

  • Jerome Powell May 18

    Powell Says GDP Could Shrink More Than 30%, But He Doesn't See Another Depression

    The U.S. economy could shrink by upwards of 30% in the second quarter but will avoid a Depression-like economic plunge over the longer term, Federal Reserve Chairman Jerome Powell told “60 Minutes” in an interview aired Sunday.

  • Economy May 13

    Powell Warns of a Possible Sustained Recession From Pandemic

    Federal Reserve Chair Jerome Powell warned of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage


    Trump on Economy During Coronavirus: ‘We Should Be Leading'

    President Trump told reporters on Saturday that he was optimistic about the economy following Friday’s stock market growth and the congressional aid package, predicting a “tremendous bounce” in the wake of the coronavirus. Trump also expressed frustration with the Chairman of the Fed and accused him of “following, not leading” global markets.

  • coronavirus Mar 16

    Fed Takes Emergency Steps to Slash Rates and Ease Bank Rules

    The Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak. The central bank said the effects of the outbreak will weigh on economic activity in the near term...

  • 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...

  • DONALD TRUMP Nov 14, 2019

    US Budget Deficit Surges as Federal Spending Hits Record Highs

    The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record. The Treasury Department said Wednesday that the deficit last month totaled $134.5 billion, up from a shortfall in October 2018 of $100.5 billion.

  • DONALD TRUMP Aug 24, 2019

    ‘Our Bigger Enemy': Trump Escalates Attack on Fed Chief

    President Donald Trump launched a furious and highly personal Twitter attack Friday against the Federal Reserve and Chairman Jerome Powell, fuming that the Fed once more “did NOTHING!” and wondering who is “our bigger enemy” — Powell or China’s leader. The outburst came after Powell, speaking to central bankers in Jackson Hole, Wyoming, gave vague assurances that the Fed “will...

  • DONALD TRUMP Aug 22, 2019

    Trump Flip-Flops on Tax Cuts, Citing ‘Strong Economy'

    A day after considering cutting taxes to promote economic growth, President Donald Trump on Wednesday changed course and said he would abandon the idea because the nation already had “a strong economy.” Trump’s flip-flop came after recent market volatility and economic uncertainty, and amid a debate about whether the United States was heading for a slowdown that would imperil his...

  • DONALD TRUMP Aug 21, 2019

    Trump Acknowledges China Policies May Mean US Economic Pain

    President Donald Trump acknowledged Tuesday his aggressive China trade policies may mean economic pain for Americans but insisted they’re needed for more important long-term benefits. He contended he does not fear a recession but is nonetheless considering new tax cuts to promote growth. Asked if his trade war with China could tip the country into recession, Trump brushed off the...

  • DONALD TRUMP Aug 19, 2019

    Trump Dismisses Worries of Recession, Says Economy Is Strong

    President Donald Trump dismissed concerns of recession on Sunday and offered an optimistic outlook for the economy after last week’s steep drop in the financial markets. “I don’t think we’re having a recession,” Trump told reporters as he returned to Washington from his New Jersey golf club. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax...

  • DONALD TRUMP Aug 1, 2019

    Fed Cuts Key Rate for First Time in More Than a Decade

    The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter the impact of President Donald Trump’s trade wars, stubbornly low inflation and global weakness. It left open the possibility of future rate cuts, but perhaps not as many as Wall Street had been hoping for. During a news conference, Chairman...

  • Facebook Jul 14, 2019

    Facebook's Libra Cryptocurrency

    Charley Moore joins our panel to discuss Facebook’s push into finance.

  • United States May 3, 2019

    US Adds Robust 263K Jobs; Unemployment at Decades-Low 3.6%

    U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and now anticipate strong customer demand. The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop reflected a rise in the number of people who stopped looking for work. Average hourly...

  • DONALD TRUMP May 1, 2019

    Fed Leaves Rates Alone Despite Trump Pressure

    The Federal Reserve left its key interest rate unchanged Wednesday and signaled that it’s unlikely to either raise or cut rates in coming months amid signs of renewed economic health but unusually low inflation. The Fed left its benchmark rate — which influences many consumer and business loans — in a range of 2.25% to 2.5%. Its low-rate policy has...

  • NBC Apr 4, 2019

    Trump Considering Herman Cain for Federal Reserve Board

    President Donald Trump is considering naming Herman Cain, a former pizza company executive and 2012 Republican presidential candidate, to the Federal Reserve Board, sources familiar with the matter told NBC News. The possible nomination comes as Trump’s most recent Federal Reserve pick, Stephen Moore, has come under fire for reports about his back taxes and failing to make alimony payments...

  • 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 Mar 21, 2019

    How to Take Advantage of the Fed's Lower Rate Decision

    So much for those worries about rising interest rates. Just a few months ago, rising rates were bearing down on everyone from home buyers to stock investors after the Federal Reserve put through seven quarter-point increases in 2017 and 2018. But some rates began easing early this year after the Fed opened the door to a “patient” approach to further...

  • DONALD TRUMP Mar 20, 2019

    Federal Reserve Foresees No Interest Rate Hikes in 2019

    The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes in 2019, dramatically underscoring its plan to be “patient” about any further increases. The Fed said it was keeping its benchmark rate — which can influence everything from mortgages to credit cards to home equity lines of credit — in a range of 2.25 percent to 2.5 percent.

  • United States Jan 31, 2019

    Stocks Jump After Fed Indicates Patience on Rate Increases

    Stocks powered higher Wednesday after the Federal Reserve signaled it could hold off on interest rate increases in the coming months, citing muted inflation. The Fed’s announcement allays one of the biggest concerns for investors: That the economy, and corporate profits, could be hurt if the Fed continued to steadily increase interest rates after raising them four times last...

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