Jerome Powell

Fed's Powell: More stimulus needed from Congress


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.


Fed to release monthly details on coronavirus lending


The central bank and other agencies have come under pressure to be transparent about their use of funds authorized by the recent pandemic rescue law.


Banks stick with dividend plans despite potential for blowback


Large institutions say their strong capital positions allow them to reward investors, and the Fed agrees. But critics say this is the time to be preparing for a sharp downturn and continue helping those hurt by the coronavirus pandemic.


GOP senator asks Treasury, Fed for virus-aid details


The head of the Senate panel overseeing Federal Reserve and Treasury Department efforts to boost the U.S. economy urged the agencies to remember their disclosure requirements.


Key Democrats urge Mnuchin, Powell to rescue mortgage servicers


The letter written by Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, was seen as a boost to Wall Street lobbying efforts seeking to quell the fallout of the coronavirus crisis on the mortgage market.


Fed expands use of credit facilities to offer additional $2.3 trillion in loans


The Fed's actions are designed to ensure the flow of credit to midsize businesses and state and local governments hit hard by the economic impact of the coronavirus pandemic.


Fed eases Wells Fargo's asset cap to allow for more business lending


The Federal Reserve is temporarily altering the growth restriction it placed on Wells Fargo in 2018 so that the bank can make additional loans to small and midsize business that need funding to weather the coronavirus pandemic.


Fed's conundrum: Whether to remove Wells Fargo's asset cap


Amid the coronavirus emergency, the central bank may have to decide at what point the imperatives of an economic crisis outweigh the requirements of its most severe enforcement action in recent memory.


Banks cautioned on bonuses, pay; Powell praised for decisiveness


After the financial crisis banks took a PR beating, limiting bonuses could prevent criticism; the Fed moved with authority in the face of the coronavirus.


Fed is ‘not going to run out of ammunition,’ Powell vows


Federal Reserve Chairman Jerome Powell said the central bank will maintain its muscular efforts to support the flow of credit in the U.S. economy as Americans hunker down from the coronavirus pandemic.