News Topic: Jerome Powell

The rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of the market. ... Read full article

The establishment of the Primary Dealer Credit Facility is among a flurry of recent actions by the central bank to limit the economic impact of the coronavirus. ... Read full article

The Federal Reserve's support for the commercial paper market made clear that it was willing to go beyond cutting interest rates, but the central bank may feel pressure to do even more as the crisis worsens. ... Read full article

The actions include cutting the federal funds rate to between 0% and 0.25% and other steps to ease economic stress from the spread of the coronavirus. ... Read full article

The central bank has been under increasing pressure to act as investors have been losing faith in the Trump administration's efforts to contain the economic fallout. ... Read full article

In announcing the central bank’s emergency rate cut, Chairman Jerome Powell warned that the Fed can only do so much. ... Read full article

Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress. ... Read full article

Federal Reserve Chair Jerome Powell reaffirmed his agency’s skepticism of a Community Reinvestment Act plan proposed by other regulators, and said the Fed has an important role to ensure banks “are resilient against the longer-term risks from climate ... Read full article

The new regulation aims to standardize the process for determining if those owning less than a quarter of a bank must comply with holding company requirements. ... Read full article

In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures. ... Read full article

Federal Reserve Chair Jerome Powell said he was “comfortable” with a recent speech by Gov. Lael Brainard objecting to significant aspects of the Community Reinvestment Act plan proposed by the OCC and FDIC. ... Read full article

After declining to support the proposal drafted by the OCC and FDIC, the Federal Reserve could issue its own framework or just keep the current CRA regime. ... Read full article

Corporate debt swelled to $15.987 trillion in the third quarter after borrowing increased by nearly 6%, according to the Federal Reserve. ... Read full article

In a rare move, the House Financial Services Committee chairwoman will lead a congressional delegation to a public FDIC board meeting as it considers releasing a proposal to rework the Community Reinvestment Act. ... 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

Federal Reserve officials said they contained fallout from the rate spike in the repurchase agreement market, but the episode poses longer-term repercussions for liquidity rules, the transition to a new interest rate benchmark and other issues. ... Read full article

The company is reportedly paying bonuses to get retailers to accept its cards; both sides offer different take of rare get-together. ... Read full article

The central bank originally predicted FedNow's launch within five years, but the Fed chairman told House lawmakers that he expects it will happen sooner. ... Read full article