Federal Reserve Chair Jerome Powell addresses a news conference following a two-day meeting of the Federal Open Market Committee (FOMC). The Federal Reserve is expected to announce that it is speeding up the end of its pandemic-era bond purchases and signal a turn to interest rate increases next year as a guard against surging inflation….
LIVE NOW: Fed Chair Powell Speaks to Reporters Following Interest Rate Decision
Federal Reserve Chair Jerome Powell addresses a news conference following a two-day meeting of the Federal Open Market Committee (FOMC). The Federal Reserve is expected to announce that it is speeding up the end of its pandemic-era bond purchases and signal a turn to interest rate increases next year as a guard against surging inflation….
Watchdog Says Fed Officials Did Not Violate Laws, Ethics Rules in Recent Financial Trades
July 15, 2022
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Business & Marketseconomic policieseconomyFederal Reservejerome powellMarketsRichard ClaridaUSUS News
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Recent financial trades by Federal Reserve Chair Jerome Powell and former Vice Chair Richard Clarida were determined by the central bank’s independent watchdog to have not violated any laws or ethics rules. The Office of the Inspector General said it is closing its investigation into the pair’s investment activities from 2019 to 2021. “We did not…
Powell Is Repeating Burns’ Mistake
Commentary The recent loss of control of inflation and worry about potential stagflation ahead is to a very large extent repeating the history of the 1970s, a period that is worth serious study to learn the lesson. The appointment of Arthur Frank Burns as a new Fed chair to replace William McChesney Martin, a hawker…
Powell Says Economic Growth Will Likely Slow as De-Globalization Pressures Build
June 29, 2022
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Business & Marketseconomic policieseconomyEuropeglobalizationinflationInvestmentjerome powellMarketsrecessionRussia-Ukraine WarUSUS NewsWorld
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Federal Reserve Chair Jerome Powell said he thinks it’s rather “likely” that the forces of de-globalization will mount, leading to a more fractionalized new normal characterized by higher inflationary pressures, lower productivity, and slower economic growth. Powell made the remarks on June 29, during a panel discussion at the European Central Bank’s annual policy forum…
Jerome Powell Admits Federal Reserve Underestimated Inflation
The Federal Reserve underestimated rampant price inflation as the U.S. economy reopened, Chair Jerome Powell told lawmakers on the House Financial Services Committee on Thursday. Rep. Ann Wagner (R-Mo.) told Powell that she thinks the head of the central bank “underestimated actual inflation” and asked what monetary policymakers missed. “We did underestimate it. With the…
Powell Concedes That Federal Reserve Underestimated Inflation
The Federal Reserve underestimated rampant price inflation as the U.S. economy reopened, Chairman Jerome Powell told lawmakers on the House Financial Services Committee on June 23. “We did underestimate it. With the benefit of hindsight, clearly, we did,” Powell said during his second day of testimony before Congress. Rep. Ann Wagner (R-Mo.) asked the head…
Fed’s Powell Contradicts Biden’s Claim That Ukraine War Is Biggest Inflation Driver
June 23, 2022
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Business & Marketseconomic policieseconomyExecutive BranchFedinflationjerome powellMarketsPolicies & ImpactsPoliticsUkraineUSUS News
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Federal Reserve Chairman Jerome Powell on Wednesday admitted that inflation levels were already high before Russia’s invasion of Ukraine, contradicting the Biden administration’s insistence that skyrocketing price increases are largely due to Moscow’s “special military operation” in the eastern European country. Powell made the admission during a Senate Banking Committee hearing after Sen. Bill Hagerty (R-Tenn.) questioned…
Fed’s Powell: Committed to Inflation Fight, Not Trying to Trigger Recession
The Federal Reserve is not trying to engineer a recession to stop inflation but is fully committed to bringing prices under control even if doing so risks an economic downturn, U.S. central bank chief Jerome Powell said on Wednesday. “We are not trying to provoke, and I don’t think we will need to provoke, a…
Fed Is ‘Acutely Focused’ on Fighting Inflation, Says Powell
Federal Reserve Chairman Jerome Powell spoke before the Board of Governors of the Federal Reserve on Friday, emphasizing the Fed’s high priority for curbing inflation and restoring stability to the U.S. dollar. Speaking in his customary address to the Federal Reserve’s Board of Governors, Powell made a point of highlighting the Fed’s commitment to reverting…
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