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‘A new risk to the global growth outlook’: Here’s what the Fed said about the coronavirus outbreak at its last meeting
The Federal Reserve deemed current market risks as "somewhat more favorable" to those seen in late 2019 as coronavirus fears replaced trade tensions.
Department of Transportation Undersecretary Derek Kan is not being seriously considered for a spot on the Federal Reserve board, according to a White House source familiar with the nomination process.
Shelton embraced a broader departure from precedent at the central bank, asserting: "I don't claim to be in the mainstream of economists."
Fed Chair Jerome Powell calls out massive US health spending, says Americans are ‘getting nothing’ in return
"So it's about the delivery. That's a lot of money that you are effectively spending that you are getting nothing," Powell said at a Senate hearing.
The Fed official praised the SEC for "cracking down on" the coin-offering frauds that have "fleeced" people for billions of dollars.
A growing number of companies have warned of fallout from the coronavirus, saying closures and other disruptions would chip away at revenue this year.
Total household debt is now $14.15 trillion — about $1.5 trillion more, nominally, than debt levels were in the third quarter of 2008.
Trump accused Powell of tanking stocks on Tuesday, but his claims weren't supported by movements in the bond market.
Hedge fund billionaire Ken Griffin calls markets ‘utterly and completely unprepared’ for jump in inflation
Griffin also called the coronavirus outbreak "the most concrete short-run risk we see in the financial markets globally."
The gold standard, near-zero interest rates, less central bank independence: Trump’s latest Fed pick backs unusual economic policies
The nominee for the Fed Board of Governors has long advocated for highly unconventional economic theories and policies.