The US Federal Reserve System acting as the national central bank has increased the base interest rate by 50 basis points to the level of 4.25-4.5% per annum, the Federal Open Market Committee (FOMC) said Wednesday after the meeting. …
Federal Reserve Bank of Boston leader Susan Collins said that with little evidence price pressures are waning, the Fed may need to deliver another 75-basis point rate hike as it seeks to get inflation under control. "We're now …
The U.S. central bank has approved another sharp rise in interest rates as it wrestles to rein in fast rising prices. The Federal Reserve said it was raising its key interest rate by 0.75 percentage points, lifting it to its highest …
The US dollar has been on a major surge against major global currencies in the past year, recently hitting levels not seen in 20 years
The U.S. Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is prepared to do so again next month in an all-out battle to drive down surging inflation. Explaining the …
The US Senate on Thursday overwhelmingly confirmed Jerome Powell to a second term as chairman of the Federal Reserve. The final vote was 80-19. Under Powell's leadership, the Fed ended its pandemic stimulus program, began …
Russian Finance Minister Anton Siluanov has called the information spread by CNN about Russia defaulting on its foreign debt "incorrect". He elaborated that questions about why investors, including Americans, did not receive …
The U.S. Federal Reserve raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic …
U.S. Federal Reserve Chairman Jerome Powell is set to testify Tuesday that the Omicron variant threatens America's economic recovery. Much remains unknown about Omicron. Yet if it prolongs the pandemic, it could keep prices …
U.S. President Joe Biden said Monday he will reappoint Federal Reserve Chair Jerome Powell as head of the U.S. central bank, opting for continuity in the government’s most powerful economic post as the specter of rising inflation looms in …
The U.S. Federal Reserve said Wednesday it kept its benchmark interest rate unchanged between 0.00% and 0.25% and noted tapering will start later in November. The much-awaited tapering process of reducing the $120 billion monthly asset …
The U.S. Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day …
Economists have long argued, as a matter of technical accuracy, that “inflation” denotes an increasing money supply
The U.S. Federal Reserve held interest rates and its monthly bond-buying program steady on Wednesday, nodding to the U.S. economy's growing strength but giving no sign it was ready to reduce its support for the recovery. The Fed …
Federal Reserve Chairman Jerome Powell said Thursday that confidence in resuming economic activity will depend on global coronavirus vaccination efforts as world leaders move forward with efforts to dig out of the economic crisis caused by the …
Despite warm words from Biden, U.S. secondary sanctions against Iran, Russia and others punish European companies and prompt new calls for strategic autonomy, The New York Times writes. The new Biden administration is making nice with the European Union, talking of renewed cooperation and suspending retaliatory tariffs stemming from an old dispute between Airbus and Boeing
The U.S. Federal Reserve moved to hold its key interest rate steady amid what it said is "tremendous human and economic hardship across" the U.S. caused by the coronavirus pandemic. The fed was widely expected to continue …
With cases of Covid-19 likely to resurge, at least in some parts of the country, the U.S. economic recovery will be neither smooth nor strong, Minneapolis Federal Reserve Bank President Neel Kashkari said. "My base-case …
U.S. President Donald Trump launched his first attack against the Federal Reserve in months, taking issue with the central bank’s subdued economic forecast. "The Federal Reserve is wrong so often," Trump wrote on …
The U.S. Federal Reserve System acting as the national central bank has kept the base interest rate at the level of 0-0.25% as expected by the market, the Federal Open Market Committee (FOMC) said after the meeting. "The …
