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Mnuchin pulls plug on some pandemic lending programs that Fed considers essential

Howard Schneider and Ann Saphir, Reuters
Posted at Nov 20 09:41 AM

U.S. Treasury Secretary Steven Mnuchin said on Thursday that key pandemic lending programs at the Federal Reserve would expire on Dec. 31, putting the outgoing Trump administration at odds with the central bank and potentially adding stress to the economy as President-elect Joe Biden organizes his administration.  Read more »

Fed's Powell signals emergency credit programs should be extended

Howard Schneider and Ann Saphir, Reuters
Posted at Nov 18 09:04 AM

Federal Reserve Chair Jerome Powell said on Tuesday it was not time to shut down emergency programs aimed at battling the economic fallout from the coronavirus pandemic, with cases again surging and the economy left with "a long way to go" to recover. Read more »

White House sees Senate 'yes' for Fed pick Shelton

Reuters
Posted at Nov 17 08:35 AM

Outgoing President Donald Trump’s controversial pick for the U.S. Federal Reserve, his former economic adviser Judy Shelton, drew opposition from a third Republican senator even as the White House said it still expected the Senate to confirm her. Read more »

Fed keeps policy steady as Biden inches closer to victory

Howard Schneider, Ann Saphir and Jonnelle Marte, Reuters
Posted at Nov 06 08:32 AM

The Federal Reserve kept its loose monetary policy intact on Thursday and pledged again to do whatever it can in coming months to sustain a U.S. economic recovery losing speed amid a spreading coronavirus pandemic and facing uncertainty over a still-undecided presidential election.  Read more »

Split on applying new framework, Fed struggles over economic outlook as well

Howard Schneider and Ann Saphir, Reuters
Posted at Oct 08 09:24 AM

U.S. Federal Reserve policymakers split over how to apply a new strategy for monetary policy at their September meeting, and, amid growing doubts about the path of the economy, offered no clear sense of their next steps to offset the coronavirus recession. Read more »

Fed's appetite for further easing, higher inflation in focus

Ann Saphir, Reuters
Posted at Oct 07 02:26 PM

The U.S. Federal Reserve last month signaled that interest rates are likely to stay at zero through 2023, vowing to wait on rate hikes until inflation reaches 2 percent and is set to rise moderately above that level for a time. Read more »

US economy to recover only when people feel 'safe' from virus: Powell

Agence France-Presse
Updated as of Sep 22 08:39 AM

The US economy will only recover from the coronavirus downturn when people feel safe to resume their normal activities, Federal Reserve Chair Jerome Powell said in remarks released Monday ahead of congressional testimony. Read more »

US Fed says outlook uncertain, stimulus 'essential'

Heather Scott, Agence France-Presse
Posted at Sep 17 09:02 AM

The Federal Reserve pledged Wednesday to keep boosting the US economy with low rates to help recover the tens of millions of jobs lost in the pandemic, but said additional help from the government will be key.   Read more »

Fed seeks to offer reassurance amid push for new US stimulus

Chris Stein, Agence France-Presse
Posted at Sep 16 09:59 AM

Armed with a new interest rate strategy, the Federal Reserve will seek to reassure the US economy rattled by the coronavirus downturn as it wraps up its policy meeting on Wednesday.   Read more »

Fed unveils major policy shift to maximize job growth

Heather Scott, Agence France-Presse
Posted at Aug 28 09:04 AM

The US central bank rolled out a major policy change on Thursday that gives greater weight to its mission of maximizing employment for the benefit of lower income families, while ratcheting back its emphasis on fighting inflation.  Read more »

Fed keeps rates unchanged as US recovery depends on stopping virus, govt relief

Agence France-Presse
Posted at Jul 30 08:40 AM

The resurgence in coronavirus cases in recent weeks is weighing on US economic activity, and a recovery will depend both on checking the virus and government aid, Federal Reserve Chair Jerome Powell said Wednesday. Read more »

Fed revisits 'Great Recession-era' promise of keeping interest rates low

Reuters
Posted at Jul 02 08:26 AM

Federal Reserve policymakers are looking at reviving a Great Recession-era promise to keep interest rates low until certain conditions are met, in a bid to deliver a more rapid recovery from the recession triggered by the coronavirus pandemic. Read more »

US Fed launches long-awaited Main Street lending program

Jonnelle Marte, Lindsay Dunsmuir and Ann Saphir
Posted at Jun 16 08:01 AM

The Federal Reserve on Monday launched its Main Street Lending Program, the most complex program undertaken yet by the US central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic. Read more »

Federal Reserve ramps up help to US economy on life support

Heather Scott, Agence France-Presse
Posted at Mar 24 12:31 PM

The Federal Reserve launched an unprecedented effort on Monday to flood the US economy with money amid the chaos caused by the coronavirus pandemic, as Congress debated a rescue plan for American workers and companies. Read more »

US Fed slashes key interest rate, rolls out massive response to pandemic

Heather Scott, Agence France-Presse
Posted at Mar 16 06:59 AM

Faced with a growing economic shutdown from the coronavirus pandemic, the US Federal Reserve on Sunday announced drastic emergency measures to shore up confidence and keep the financial sector running, including slashing the key interest rate to virtually zero.  Read more »

US Fed ramps up cash injections to keep market gears grinding

Heather Scott, Agence France-Presse
Posted at Mar 13 07:40 AM

The Federal Reserve on Thursday massively increased its efforts to keep the economy on track and quell the growing uncertainty caused by the coronavirus pandemic, injecting $1.5 trillion of cash into markets this week. Read more »

China cuts new loan rate for second month but struggling economy likely needs more

Reuters
Posted at Sep 20 06:05 PM

China cut its new one-year benchmark lending rate for the second month in a row on Friday, a step by the central bank to try to wrestle down borrowing costs and support the economy as the Sino-US trade war drags on. Read more »

US Fed cuts key interest rate a quarter point, citing 'uncertainties'

Agence France-Presse
Posted at Sep 19 03:56 AM

The US Federal Reserve cut its benchmark interest rate for the second time this year on Wednesday but its policy committee is divided, with three of 10 voting members dissenting.   Read more »

Trump: Fed should get US interest rate 'down to ZERO, or less'

Agence France-Presse
Posted at Sep 11 08:57 PM

President Donald Trump wants US "interest rates down to ZERO, or less," he tweeted Wednesday amid widespread expectations that the Federal Reserve will cut rates later this month. Read more »

In a shift, Fed will be 'patient' on future US rate hikes

Howard Schneider and Jason Lange, Reuters
Posted at Jan 31 06:43 AM

The US Federal Reserve on Wednesday held interest rates steady and, in a formal policy shift, vowed to be patient in further lifting borrowing costs, the clearest signal yet the tightening cycle it began in 2015 may have ended. Read more »