Janet Yellen, Biden’s nominee for Treasury secretary, urges Congress to ‘act big’ to avoid deep, prolonged pandemic-induced downturn.
Author: Martin Crutsinger, Associated Press
Fed keeps rates near zero, promises to take further steps if the economy weakens amid COVID-19 pandemic
The Federal Reserve kept its key interest rate near zero amd vowed to take further steps if the economy weakens amid COVID-19 pandemic.
Thanks to consumers, the US economy is still rising steadily
Consumer spending drives about 70% of growth, and it accelerated in the April-June quarter at the fastest pace in nearly five years.
Why the US economy may have already peaked for 2019
Economists project a “tepid” 2.3% gain this year, compared to last year’s 2.9% growth.
Federal Reserve Chairman Powell: ‘Moderate’ risk from corporate debt
Federal Reserve Chairman Jerome Powell said Monday that the central bank is closely monitoring a sharp rise in corporate debt.
Fed Chair Powell says Trump’s attacks played no role in rate pause
Despite President Trump’s criticism, Jerome Powell says the Fed will always “make decisions based on what we think is right for the American people.”