Browsing: Jerome Powell

Economy adds 303,000 positions as unemployment rate falls

Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February.

Traders now seeing higher odds of a first Fed move in June

Federal Reserve Chair Jerome Powell will provide an update Wednesday on decisions reached by the nation’s central bank in meetings over the past two days. The Fed had in recent months indicated it might roll back interest rates by this point. But no change in rates is expected at present because February’s inflation remained higher…

WASHINGTON — Federal Reserve officials indicated Wednesday that they still plan to lower their key interest rate three times in 2024 despite signs that inflation remained surprisingly high at the beginning of the year. However, they expect fewer rate cuts in 2025 and have slightly raised their inflation forecasts. After concluding their latest meeting, the […]

Treasury Secretary Janet Yellen stated that she feels sorry for characterizing inflation in 2021 as “transitory,” a term used by several Federal Reserve and Biden administration officials to describe the pandemic-induced price surges they initially believed would be short-lived. “I regret saying it was transitory. It has come down. But I think transitory means a few weeks or months…