NEW YORK (Reuters) – The United States should implement another support package to ensure workers can stay safely at home while the novel coronavirus continues to spread, Chicago Fed President Charles Evans said in an interview with CBS News released on Sunday... More »
(Reuters) – The Federal Reserve’s promise in the early days of the coronavirus pandemic to flood the U.S. economy with trillions of dollars seemed like the proverbial central bank bazooka. It has been more of a trickle in practice, with activity outside the U.... More »
(Reuters) – The Federal Reserve on Monday launched its latest life raft for U.S. businesses hurt by the coronavirus pandemic. Administered by the Boston Fed, the Main Street Lending Program will offer up to $600 billion in loans through participating lenders t... More »
NEW YORK (Reuters) – The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex program undertaken yet by the U.S. central bank to help keep the ... More »
WASHINGTON (Reuters) – The U.S. Federal Reserve announced Monday it was resuming its normal bank examination activities, after easing back at the outset of the coronavirus pandemic. The Fed announced in March it was reducing some exam activities and focusing o... More »
TOKYO (Reuters) – Japanese investors have clipped the wings of a resurgent U.S. dollar as they position for the likelihood that the U.S. Federal Reserve will take steps to flatten the Treasury yield curve. Ahead of the Fed’s two-day policy meeting that ends on... More »
NEW YORK/SINGAPORE (Reuters) – Negative interest rates in the United States were once unimaginable. The coronavirus has changed that. While the Federal Reserve has all but ruled it out, the sweeping economic and financial-markets impact of the pandemic has for... More »
WASHINGTON (Reuters) – A top official at the U.S. Federal Reserve said on Sunday the $2.3 trillion economic relief bill approved by Congress was appropriately sized and that a further relief effort may not be needed if support efforts are well executed. “I fel... More »
BOSTON/WASHINGTON (Reuters) – The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, ... More »
(Reuters) – The Federal Reserve unexpectedly cut interest rates on Sunday for the second time in less than two weeks, an emergency move to help shore up the U.S. economy as a coronavirus pandemic spreads worldwide. In a statement, the central bank said it was ... More »
(Reuters) – The $2.2 trillion repurchase agreement market – part of the inner workings of the U.S. financial system – is facing what could be another strain as the year comes to a close. That could have wider implications than just Wall Street. WHAT IS THE WOR... More »
WASHINGTON (Reuters) – Friday’s booming U.S. jobs report should give the Federal Reserve all it needs to stick to its plan not to cut interest rates further in the near future, so when U.S. central bankers meet this week, most of the focus will be on their out... More »
BOSTON (Reuters) – Boston Federal Reserve officials have a pretty good idea what helped the ailing industrial town of Lawrence, Massachusetts, start to make a turnaround, including a state takeover of the public school system and a focused effort to lift job o... More »
DENVER (Reuters) – Kansas City Federal Reserve Bank President Esther George on Sunday rejected the notion that the U.S. central bank should cut interest rates to try to boost low inflation, which she said is largely a result of global forces that U.S. monetary... More »
WASHINGTON (Reuters) – U.S. regulators have circulated a new draft of the “Volcker Rule” that would further ease its requirements and scrap a proposed new test that had been met with fierce resistance from Wall Street, according to two people with knowledge of... More »
WASHINGTON (Reuters) – It has become a jarring and frequent contradiction. President Donald Trump blames the Federal Reserve for putting the U.S. economy at risk while data shows an economy in “reasonably good” shape, as the head of the central bank recently s... More »
NEW YORK (Reuters) – The Federal Reserve will likely reduce key U.S. borrowing costs by a quarter point at its upcoming July 30-31 policy meeting with the chance of a 50 basis-point decrease, Bank of America Merrill Lynch analysts said on Wednesday. The U.S. c... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday on NBC’s ‘Meet the Press’ news program that he has the power to demote Federal Reserve Chairman Jerome Powell but has not threatened to do so. “I didn’t ever threaten to demote him,” Trump said.... More »
NEW YORK (Reuters) – Mortgage rates are nearing historic lows again in the United States, making it an ideal time to buy a home – or refinance. “It’s amazing how many times a once-in-a-lifetime opportunity comes around,” said Keith Gumbinger, vice president of... More »
WASHINGTON (Reuters) – The Great Recession ended a decade ago this month, but for the U.S. Federal Reserve the fallout has posed an era-defining choice: Either jolt Americans to expect higher inflation, or keep the printing press ready for the next economic sl... More »
HONG KONG (Reuters) – Chicago Federal Reserve Bank President Charles Evans said on Monday it was understandable for markets to be nervous when the yield curve flattened, though he was still confident about the U.S. economic growth outlook. In what many see as ... More »
HONG KONG (Reuters) – With downside risks looming and uncertainties rife, the U.S. Federal Reserve is prudent to wait for more economic data before deciding whether its next move will be to raise rates, or cut them, Chicago Fed Bank President Charles Evans sai... More »
WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell worked hard to strengthen ties with Congress during his first year as head of the U.S. central bank, doubling the pace of meetings with lawmakers over his predecessors and courting Democrats and Rep... More »
WASHINGTON (Reuters) – Ebbing global growth and shaky financial markets threw the U.S. Federal Reserve off course in early 2016, and it took nearly a year for officials to regain confidence growth would continue and convince investors they would again raise in... More »
TOKYO (Reuters) – Worried by prospects of a pause in the U.S. interest rate hike cycle, the Bank of Japan is shifting focus towards a risk that it may be forced to deploy more stimulus this year to stop sharp yen rises from derailing an economic recovery, sour... More »
WASHINGTON (Reuters) – Most financial market credit officers surveyed by the Federal Reserve in November said their big clients were exposed to emerging markets but were scaling back bets emerging market assets would rise in value, the U.S. central bank said o... More »
WASHINGTON (Reuters) – The head of the U.S. Federal Reserve faces no risk of losing his job and President Donald Trump is happy with his Treasury secretary, a White House official said in an apparent attempt to calm Wall Street nerves frayed by Trump’s critici... More »
TOKYO (Reuters) – U.S. President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell, Bloomberg reported on Saturday, citing sources. Trump’s frustration with the U.S. central bank chief intensified after this week’s interest rate increase... More »
NEW YORK (Reuters) – Americans’ demand for credit declined over the previous year as expected, as mortgage interest rates rose, while the percentage of approved applications also ticked lower compared to a year ago, a survey from the New York Federal Reserve s... More »
WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell’s testimony to Congress’s Joint Economic Committee on Wednesday has been postponed and will be rescheduled at a later date, the committee said Monday. Powell was slated to discuss the economic outlo... More »
WASHINGTON (Reuters) – The 35 largest U.S. banks are poised to put more money toward dividends, share buybacks and business investments, after clearing the first stage of an annual regulatory stress test on Thursday, showing they have enough capital to withsta... More »
WASHINGTON (Reuters) – The Federal Reserve board will hold a public vote on whether to lift growth restrictions on scandal-hit Wells Fargo following pressure from Democratic Senator Elizabeth Warren, the Massachusetts lawmaker said on Friday. The Fed’s policy ... More »
AMELIA ISLAND, Florida (Reuters) – Federal Reserve vice chair for supervision Randal Quarles said the central bank is in the early stages of studying how the expanding use of machine learning in the financial sector may change its regulatory approach, but that... More »
WASHINGTON (Reuters) – Business is coming in so fast and workers are in such high demand at AOW Associates Inc, an Albany, New York-based construction firm, that its chief financial officer hired a guy six weeks ago for a job that didn’t exist. “We keep our pr... More »
FILE PHOTO: A Wells Fargo bank sign is pictured in downtown Los Angeles, California, U.S. August 10, 2017. REUTERS/Mike Blake/File Photo BOSTON (Reuters) – The Federal Reserve’s surprise ban on Wells Fargo & Co growing its balance sheet comes at a difficult ju... More »
FILE PHOTO: A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. February 10, 2015. REUTERS/Jim Young/File Photo WASHINGTON/NEW YORK (Reuters) – Wells Fargo & Co detailed new regulatory restrictions imposed by the U.S. Federal Reserve... More »
WASHINGTON (Reuters) – Randal Quarles, the top Federal Reserve official tasked with policing Wall Street, said on Friday that he would recuse himself from any matters concerning Wells Fargo & Co, the nation’s third largest bank. Wells Fargo, which last year pa... More »
Influential bond investor Bill Gross of Janus Henderson Investors warned Thursday the Federal Reserve should be "more cautious and easier" in its interest-rate hiking campaign, given the enormous exposure investors have to pricey risk assets including corporat... More »
FILE PHOTO: New York Fed President William Dudley takes part in a panel convened to speak about the health of the U.S. economy in New York, U.S. on November 18, 2015. REUTERS/Lucas Jackson/File Photo (Reuters) – New York Federal Reserve President William Dudle... More »
JPMorgan Chase & Co on Friday raised its forecast on the number of U.S. interest rate increases by the Federal Reserve next year to four from three as the October payrolls data reinforced the view of a tightening domestic labor market. More »
American International Group Inc (AIG.N) poses less of a threat to financial stability because it shrank its assets by more than $500 billion, Federal Reserve Chair Janet Yellen said on Monday in explaining why she voted in favor of releasing the company from ... More »
FILE PHOTO: Flags fly over the Federal Reserve Headquarters on a windy day in Washington, U.S., May 26, 2017. The Federal Reserve’s plan for shrinking its massive balance sheet envisions a future with no holdings of mortgage bonds, a prospect that could presen... More »
FILE PHOTO: San Francisco Federal Reserve President John Williams speaks to Reuters in San Francisco, California, U.S. on September 27, 2016. REUTERS/Stephen Lam/File Photo With the U.S. economy at full employment and inflation set to hit the Federal Reserve’s... More »
FILE PHOTO – John C. Williams, President and CEO of the Federal Reserve Bank of San Francisco, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S. on May 2, 2016. REUTERS/Lucy Nicholson/File Photo The U.S. economy is at or near ... More »
San Francisco Federal Reserve President John Williams said on Monday that medium-term trends in inflation remain “pretty favorable,” despite some recent soft U.S. consumer price data. More »
With the U.S. workforce nearly fully employed and inflation heading toward 2 percent, the Federal Reserve should raise interest rates two more times this year and continue work on a plan to gradually trim its massive balance sheet, Dallas Federal Reserve Bank ... More »
FILE PHOTO: Construction is seen in the Hudson Yards area of the West Side of Manhattan in New York U.S., November 21, 2016. REUTERS/Shannon Stapleton The run-up in U.S. real estate prices could potentially amplify any future economic downturn, a Federal Reser... More »
FILE PHOTO: Federal Reserve Chair Janet Yellen delivers semiannual monetary policy testimony during a House Financial Services Committee hearing on Capitol Hill in Washington, U.S. on February 15, 2017. REUTERS/Yuri Gripas/File Photo The Federal Reserve is exp... More »
FILE PHOTO – A police officer keeps watch in front of the U.S. Federal Reserve in Washington, DC, U.S. on October 12, 2016. REUTERS/Kevin Lamarque/File Photo U.S. household wealth has hit record levels. U.S. stock prices recently hit all-time highs. Inflation ... More »
U.S. President Donald Trump’s senior advisor Jared Kushner (L) and the head of the National Economic Council Gary Cohn, talk with Fiat Chrysler CEO Sergio Marchionne (C) during Trump’s meeting with U.S. auto industry CEOs at the White House in Washington Janua... More »
A security guard walks in front of an image of the Federal Reserve in Washington, DC, U.S., March 16, 2016. REUTERS/Kevin Lamarque/File Photo Goldman Sachs economists said on Friday they stuck with their call that the Federal Reserve will increase interest rat... More »
The Federal Reserve Building stands in Washington April 3, 2012. REUTERS/Joshua Roberts/File Photo U.S. short-term interest rate futures were little changed on Friday after a government report showed big job gains last month, underscoring the likelihood that t... More »
The Federal Reserve building is seen in Washington June 19, 2012. REUTERS/Yuri Gripas Two tools that the Federal Reserve heavily relies upon to predict U.S. inflation in fact provide little practical help, and the Fed would be wise to only modestly overshoot i... More »
William Dudley, President of the New York Federal Reserve Bank, speaks at Brooklyn College in the Brooklyn borough of New York, March 7, 2014. REUTERS/Keith Bedford/File Photo A handful of Federal Reserve policymakers on Tuesday jolted markets into higher expe... More »
A potential car buyer looks at vehicles on a lot in Silver Spring, Maryland, September 1, 2009. REUTERS/Jason Reed More Americans fell behind on their car loan payments in the fourth quarter, bringing auto delinquencies to their highest since the height of the... More »
Federal Reserve Chair Janet Yellen holds a news conference following day two of the Federal Open Market Committee (FOMC) meeting in Washington, U.S., December 14, 2016. REUTERS/Gary Cameron Federal Reserve Chair Janet Yellen goes to Congress on Tuesday for the... More »
A police officer keeps watch in front of the U.S. Federal Reserve in Washington October 12, 2016. REUTERS/Kevin Lamarque Philadelphia Federal Reserve Bank President Patrick Harker on Monday said he would be open to raising interest rates again at the U.S. cent... More »
A security guard walks in front of an image of the Federal Reserve following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, March 16, 2016. REUTERS/Kevin Lamarque/File Photo Philadelphia Federal Reserve Bank President Patrick Ha... More »
A police officer keeps watch in front of the U.S. Federal Reserve building in Washington, DC, U.S. on October 12, 2016. REUTERS/Kevin Lamarque/File Photo The U.S. Federal Reserve will stop reinvestments of its mortgage-backed securities holdings in April 2018 ... More »
Philadelphia Federal Reserve President Patrick Harker said on Friday he expects three interest rate increases in 2017 if the labor market improves further and inflation moves to the Federal Reserve’s 2 percent goal. More »
A police officer keeps watch in front of the U.S. Federal Reserve in Washington October 12, 2016. REUTERS/Kevin Lamarque/File Photo The Federal Reserve inaugurates the Trump era this week with a near-certain interest rate increase and new economic forecasts pr... More »
William Dudley, President of the New York Federal Reserve Bank, speaks at Brooklyn College in the Brooklyn borough of New York, March 7, 2014. REUTERS/Keith Bedford/File Photo Banks need to continue to monitor the way they reward employees to ensure they promo... More »
Boston Fed President Eric Rosengren speaks during the Sasin Bangkok Forum in this July 9, 2012 file photo. REUTERS/Sukree Sukplang By the middle of next year, Federal Reserve Bank of Boston President Eric Rosengren says he expects unemployment to fall to 4.7 p... More »
U.S. Federal Reserve Chair Janet Yellen speaks during a news conference following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, DC, U.S. on March 16, 2016. REUTERS/Kevin Lamarque/File Photo Market volatility is low, U.S. census... More »
Minneapolis Fed President Neel Kashkari speaks during an interview at Reuters in New York February 17, 2016. REUTERS/Brendan McDermid With the Federal Reserve powerless to do much more than it already is, the best route to faster U.S. economic growth is throug... More »
A picture illustration of crumpled kuna, Dollar and euro banknotes, taken in Zagreb January 18, 2011. REUTERS/Nikola Solic Central bankers in charge of the vast bulk of the world’s economy delved deep into the weeds of money markets and interest rates over a t... More »
NUSA DUA, Indonesia The Federal Reserve should be cautious on interest rate increases due to lingering risks to the U.S. economy, one of its most influential policymakers said on Monday, appearing to signal the chance of a hike by the end of the year was fadin... More »
SYDNEY The sharp rebound in U.S. job growth last month eased concerns that the country’s labor market had regressed, a top Federal Reserve official said on Wednesday, repeating she continues to expect gradual interest rate rises. Cleveland Fed President Lorett... More »
SYDNEY A change in interest rates will be on the table at every meeting of the Federal Reserve, but the timing of any move will depend on how the economy performs, a top Fed official said on Wednesday. Answering questions after a speech in Sydney, Federal Rese... More »
NEW YORK J.P. Morgan expects the Federal Reserve would raise U.S. interest rates at its December policy meeting, three months later than its earlier call for such a move, in the wake of Thursday’s Brexit vote that stunned investors, a J.P. Morgan economist sai... More »
STOCKHOLM The latest disappointing U.S. jobs number has not changed the overall economic picture and gradual rate hikes remain appropriate, Cleveland Federal Reserve President Loretta Mester said on Saturday. The Fed raised rates in December for the first time... More »
WASHINGTON A U.S. congressional committee has launched an investigation into the Federal Reserve’s cyber security practices after a Reuters report revealed more than 50 cyber breaches at the U.S. central bank between 2011 and 2015. The House Committee on Scien... More »
SWIFT on Monday rejected allegations by officials in Bangladesh that technicians with the global messaging system made the nation’s central bank more vulnerable to hacking before an $81 million cyber heist in February. The comments were in response to a Reuter... More »
DHAKA/BOSTON Bangladesh’s central bank became more vulnerable to hackers when technicians from SWIFT, the global financial network, connected a new bank transaction system to SWIFT messaging three months before a $81 million cyber heist, Bangladeshi police and... More »
NEW YORK/SAN FRANCISCO U.S. Federal Reserve policymakers are expected to hold interest rates steady when they meet this week, but may tweak their description of the economic outlook to reflect more benign conditions, leaving the path open for future rate rises... More »
DHAKA Bangladesh’s central bank was vulnerable to hackers because it did not have a firewall and used second-hand, $10 switches to network computers connected to the SWIFT global payment network, an investigator into one of the world’s biggest cyber heists sai... More »
WASHINGTON President Barack Obama will meet with U.S. Federal Reserve Chair Janet Yellen on Monday to discuss the economy and Wall Street reform, the White House said on Sunday. Vice President Joe Biden will also attend the meeting. The president and the Fed c... More »
NEW YORK The U.S. Federal Reserve will not raise short-term interest rates more than twice, if at all, in 2016, on expectations of slowing hiring in the second half of the year, a top bond manager at BlackRock, the world’s top asset manager said on Friday. Des... More »
SAN FRANCISCO The Federal Reserve won’t raise interest rates this week, but will likely make clear that as long as U.S. inflation and jobs continue to strengthen, economic weakness overseas won’t stop rates from rising fairly soon. That will be a big change fr... More »
HOUSTON It is still unclear whether the recent downturn in global financial markets will have any substantial impact on the U.S. economy, Federal Reserve Vice Chairman Stanley Fischer said on Tuesday, suggesting the episode may still pass without much effect o... More »
SAN FRANCISCO/WASHINGTON In the U.S. Federal Reserve’s arsenal of tools the characterization of economic risks is heavy artillery, used to flag the moments when major events like the 2003 Iraq war or the near crack-up of the euro zone in 2011 make forecasting ... More »
WASHINGTON The Federal Reserve is expected to leave interest rates unchanged on Wednesday and acknowledge that turmoil in financial markets threatens its upbeat view of the U.S. economy, leaving the chances of a March hike diminished but alive. All 69 analysts... More »
CORALVILLE, Iowa U.S. Republican presidential candidate Marco Rubio said on Monday that the Federal Reserve should approach interest rate increases according to clear rules to make future hikes predictable. The U.S. senator from Florida commented on Fed policy... More »
SAN FRANCISCOThe world’s central banks are scrambling to assess the risk a slowing China poses to their economies and appear to be no closer than most other observers to working out what is going on in the world’s second largest economy. While the Reserve Bank... More »
NEW YORK Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said the U.S. economy faces a 30 percent chance of recession next year after the Federal Reserve’s first interest rate increase in nearly a decade on Wednesday. “Commodity pri... More »
WASHINGTON The Federal Reserve Board on Friday named the chairs and deputy chairs of the 12 regional Federal Reserve Banks for 2016. The Fed’s Washington-based board appoints three of the nine directors at each of the regional banks and selects the chair and d... More »
WASHINGTON The Federal Reserve Board will consider on Monday a proposal to curb its emergency lending powers, a change demanded by Congress after the central bank’s controversial decision to aid AIG (AIG.N), Citigroup (C.N) and others in 2008. A proposed rule,... More »
BERKELEY, Calif. U.S. central bankers not only regularly leak secret information about monetary policy, but the leaks are so predictably timed that a savvy investor without access to the leaked information could make money just by buying stocks in certain week... More »
Six big U.S. banks need to raise an additional $120 billion, most likely in long-term debt, under a rule proposed on Friday by the Federal Reserve. The requirements are aimed at ensuring that some of the biggest and most interconnected banks, which include Gol... More »
SAN FRANCISCO Federal Reserve Chair Janet Yellen, praised as an adept listener and consensus builder, may need to adopt a stronger tone at this week’s policy meeting if she expects to keep a December interest rate rise in play. Yellen’s inclusive style has bee... More »
FRANKFURT U.S. rate hikes could have greater global repercussions than in the past and affect the euro zone more in some respects than the domestic market, European Central Bank Vice President Vitor Constancio said on Thursday. A Federal Reserve rate rise woul... More »
BOSTON Eric Rosengren still expects the Federal Reserve to raise interest rates this year despite what the head of the Boston Fed called a “weak” September jobs report, which could signal a more significant economic slowdown that delays the policy tightening. ... More »
Now that the U.S. Federal Reserve has held back again on interest rates, advisers are taking advantage of attractive financing options before that window begins to close. Mortgaging property when rates are low is well-known advice. But unprecedented transparen... More »
NEW YORK Mohamed El-Erian, the chief economic adviser at Allianz SE, said Thursday that the Federal Reserve’s decision to hold off on a rate hike reflects policymakers’ reluctance to add to international financial fragility. The Fed kept interest rates unchang... More »
NEW YORK The global market volatility that upended investors over the last six weeks may last deep into autumn now that the Federal Reserve has decided to keep interest rates unchanged, several equity and fixed income portfolio managers said on Thursday. The F... More »
NEW YORK Jeffrey Gundlach, the widely followed investor who oversees DoubleLine Capital, said on Thursday the biggest surprise from the U.S. Federal Reserve’s decision to keep rates unchanged was policymakers’ focus on recent global economic and financial deve... More »
JACKSON HOLE, Wyo. Central bankers from around the world are telling their American counterparts that they are ready for a U.S. interest rate hike and would prefer that the Federal Reserve make the move without further ado. In private and in public at last wee... More »
BlackRock Inc’s (BLK.N) chief investment officer of fundamental fixed income, Rick Rieder, believes the window for the U.S. Federal Reserve to raise interest rates is closing, he said in an interview on Monday. While Rieder hopes the Fed will still begin raisi... More »
WASHINGTON The fuse may be lit for a Greek exit from the euro zone but the fallout in the United States is expected to be modest and not enough to throw the Federal Reserve’s likely September rate hike off course, said former Fed officials and outside analysts... More »
