News Topic: FOMC

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Economist Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar with ... Read full article

Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.” ... Read full article

The U.S. economy continued to grow across the country as it recovered from the coronavirus pandemic, but the picture was uneven, according to a new report from the Federal Reserve. ... Read full article

With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk. ... Read full article

The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic. ... Read full article

Federal Reserve Chair Jerome Powell announced a new approach to monetary policy Thursday that takes a more relaxed stance on inflation and on its view of how low U.S. unemployment can go. ... Read full article

Two more Republican no votes will sink the nomination, if Democrats remain steadfast on their opposition. ... Read full article

Republican Sen. Mitt Romney of Utah said he will vote against Judy Shelton, one of two Trump administration nominees to the Federal Reserve’s Board of Governors. ... Read full article

The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means. ... Read full article

The Federal Reserve chairman pledged to use every tool at the central bank's disposal to limit the economic fallout from the coronavirus and urged lawmakers to take further action. ... Read full article

Economists also expect the Fed's balance sheet to more than $10 trillion as policymakers look to lift the country from a recession brought on by the coronavirus pandemic. ... Read full article

The Fed cuts rates near zero and will buy $700 billion in Treasuries and mortgage bonds; big banks put off stock buybacks until July at the earliest. ... Read full article

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008. ... Read full article

The Fed chairman said he has not given up on the central bank agreeing with other regulatory agencies on a plan to modernize the Community Reinvestment Act, but admitted, "I don’t know whether that will be possible or not.” ... Read full article