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Fed plan to spur inflation has risks

In a healthy economy, prices tend to go up – a process called inflation. While you might not like that as a consumer, moderate price...

Federal Reserve sees rates near zero at least through 2023

WASHINGTON (AP) – The Federal Reserve expects to keep its benchmark interest rate pegged near zero at least through 2023 as it strives to...
SAVINGS EATEN AWAY: Chicago Alderman Tom Tunney, inside the main Ann Sather restaurant in Chicago, estimates he’s put $250,000 of his own money into running his three restaurants. / AP PHOTO/CHARLES REX ARBOGAST

Owners tap into savings to withstand pandemic

NEW YORK – When the coronavirus outbreak forced cruise lines to cancel trips to Alaska, it wiped out Midgi Moore’s tour business, leaving her...
DECISION TIME: Federal Reserve Board Chairman Jerome Powell speaks to the House Committee on Financial Services in Washington, D.C., in June. / THE WASHINGTON POST FILE PHOTO VIA AP/BILL O’LEARY

Too risky? Fed pressed to expand business aid

WASHINGTON – With the economy still in the pandemic’s grip, the Federal Reserve is facing a decision on whether to stretch an emergency lending...
ECONOMIC ACTIVITY in the New England region was said to have improved modestly in recent months, but contacts in the region said that they feel uncertainty about the region's economic future, according to the most recent Beige Book report from the Federal Reserve.

Beige Book: N.E. improves in July and August, but uncertainty lingers

PROVIDENCE – Economic activity in New England continued to improve modestly in July and August, according to the Federal Reserve’s Beige Book report released...
THE FEDERAL RESERVE announced that it plans to keep rates near zero even after inflation has exceeded the Fed’s 2% target level. Above, Fed Chairman Jerome Powell. / AP FILE PHOTO/JACQUELYN MARTIN

Fed: Rates to stay ultra-low even after inflation picks up

WASHINGTON (AP) – The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates...

Local lenders report slow start to Main Street Lending Program

PROVIDENCE – If the outpouring of applications for the Paycheck Protection Program amounted to a flood initial interest in the new Main Street Lending...

Fed sees dim economic outlook as virus squeezes economy

WASHINGTON (AP) – The Federal Reserve expressed concern Wednesday that the viral outbreak will act as a drag on the economy and hiring in...

Beige Book: N.E. businesses continue to have ‘considerable uncertainty’ on economy

PROVIDENCE – Economic activity in New England picked up somewhat in the second half of May and all of June, the Federal Reserve’s Beige...
RHODE ISLAND's second quarter tax revenue was projected to decline between $287 million and $482.4 million year over year, depending on the rate of unemployment in the state. / AP FILE PHOTO/ANDREW HARNIK

Boston Fed sees R.I. Q2 tax revenue drop of at least...

PROVIDENCE – The Federal Reserve Bank of Boston on Thursday projected Rhode Island’s state tax revenue will decline between $287 million and $482.4 million...

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