Fed Chair Janet Yellen cast doubt on the administration’s call for a reinstatement of a Depression-era barrier between commercial and investment banking activities.
The Federal Reserve’s Federal Open Market Committee on Wednesday raised the federal funds rate 0.25%, marking only the third rate hike since the financial crisis.
Scott Alvarez, the Federal Reserve's long-time general counsel, will retire later this year after nearly three dozen years at the central bank, the agency announced Wednesday.
