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Powell warns that long downturn would mean severe damage

WASHINGTON (AP) – Federal Reserve Chairman Jerome Powell warned Tuesday that the U.S. economy faces a deep downturn with “significant uncertainty” about the timing...
THE FEDERAL RESERVE told Congress that it intends to utilize its full range of tools to combat the economic impact of the COVID-19 pandemic. / AP FILE PHOTO/MANUEL BALCE CENETA

Fed: Will use ‘full range of tools’ to boost economy

WASHINGTON (AP) – The Federal Reserve has promised to use its “full range of tools” to pull the country out of a deep recession...
FEDERAL RESERVE Chariman Jerome Powell said that the Fed's lending programs for medium-sized businesses and state and local governments would begin operating by June 1. / AP FILE PHOTO/JACQUELYN MARTIN

Fed’s Powell says new lending programs to launch by June 1

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that the Fed's lending programs for medium-sized businesses and state and local governments would...

Coronavirus freaked markets, not the Fed

The U.S. equity market finally took notice of the coronavirus, which now is spreading from China to other countries and increasing the risk of...
MINUTES OF the Dec. 10-11 Federal Open Market Committee show officials said their monetary policy was likely to remain appropriate “for a time” despite potential risks. Above, Federal Reserve Chairman Jerome Powell. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Fed officials saw rates on hold, with an eye on downside...

WASHINGTON – Federal Reserve officials said their monetary policy was likely to remain appropriate “for a time” even amid what they saw as persistent...
THE FEDERAL RESERVE left interest rates unchanged and signaled it would keep them on hold through 2020. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Fed leaves rates unchanged; forecasts show no change in 2020

WASHINGTON – The Federal Reserve left interest rates unchanged and signaled it would keep them on hold through 2020 amid a solid economy, sticking...
JEROME POWELL told the House Budget Committee that the Federal Reserve projects continued moderate growth in the U.S. economy. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Powell sees few risks likely to derail record U.S. expansion

WASHINGTON – Federal Reserve Chairman Jerome Powell called the United States economy a “star” performer and voiced solid confidence that its record expansion will...
NONFARM BUSINESS employee output per hour decreased at a 0.3% annualized rate in the third quarter. / BLOOMBERG FILE PHOTO/ANDREW HARRER

U.S. productivity unexpectedly posts first decline since 2015

WASHINGTON – Productivity in the United States unexpectedly posted the first decline in almost four years and labor costs accelerated, suggesting a pickup in...
RECENT ECONOMIC reports have shown potential for a weakening of U.S. consumer spending. / BLOOMBERG NEWS FILE PHOTO

U.S. consumer spending, jobless claims suggest some caution

WASHINGTON – United States consumer spending trailed forecasts in September while weekly applications for unemployment benefits rose more than projected, offering a note of...
THE FEDERAL RESERVE reduced interest rates by one-quarter percentage point for the third time this year but signaled that it may stop reducing rates for now. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Fed cuts rates by one-quarter percentage point while hinting at a...

WASHINGTON – Federal Reserve officials reduced interest rates by one-quarter percentage point for the third time this year and hinted they may now put...

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