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  • Jerome Powell says US economy facing heightened uncertainty Jun 30, 2020 07:45 AM IST

    Jerome Powell says US economy facing heightened uncertainty

    "A full recovery is unlikely until people are confident that it is safe to re-engage in a broad range of activities," Powell says in testimony he is scheduled to deliver on Tuesday in an appearance with Treasury Secretary Steven Mnuchin before the House Financial Services Committee.

  • Jerome Powell repeats Fed to use full range of tools to aid economy Jun 17, 2020 10:29 PM IST

    Jerome Powell repeats Fed to use full range of tools to aid economy

    The recession is hurting Americans unequally, taking the deepest toll on African Americans and other minorities, Powell said in prepared remarks for his testimony before the US House of Representatives Financial Services Committee.

  • S&P 500, Dow Jones flat after three-day rally Jun 17, 2020 09:38 PM IST

    S&P 500, Dow Jones flat after three-day rally

    Encouraging economic data and trillions of dollars in monetary and fiscal stimulus have propelled a rally in the Wall Street indexes from their late-March trough.

  • Jerome Powell warns that long downturn would mean severe damage Jun 16, 2020 09:14 PM IST

    Jerome Powell warns that long downturn would mean severe damage

    Powell is delivering the first of two days of semi-annual congressional testimony, on Tuesday to the Senate Banking Committee before addressing the House Financial Services Committee on Wednesday.

  • Federal Reserve sees 'persistent fragilities' for households and businesses: Fed report Jun 12, 2020 10:50 PM IST

    Federal Reserve sees 'persistent fragilities' for households and businesses: Fed report

    In its twice-annual Monetary Policy Report to US lawmakers, the Fed also reinforced expectations for a sharp decline in economic activity in the current quarter.

  • Federal Reserve to keep buying bonds and sees no rate hike through 2022 Jun 10, 2020 11:43 PM IST

    Federal Reserve to keep buying bonds and sees no rate hike through 2022

    The Fed has cut its benchmark short-term rate to near zero. Keeping its rate ultra-low for more than two more years could make it easier for consumers and businesses to borrow and spend enough to sustain an economy depressed by business shutdowns and high unemployment.

  • Fed's Jerome Powell fears second coronavirus wave, reiterates crisis-fighting pledge May 30, 2020 12:25 PM IST

    Fed's Jerome Powell fears second coronavirus wave, reiterates crisis-fighting pledge

    The Fed has gone all out to steady financial markets since March, lowering borrowing costs and creating credit backstops for companies and local governments reeling from the economic fallout of lockdowns to stop the spread of the novel coronavirus.

  • This is a ‘downturn without modern precedent’, says Federal Reserve Chairman Jerome Powell May 22, 2020 06:26 PM IST

    This is a ‘downturn without modern precedent’, says Federal Reserve Chairman Jerome Powell

    It’s impossible to guess what the trajectory for the economy will look like, a series of central bankers warned. That makes nimbleness key

  • Fed, Treasury chiefs face heat over uneven US coronavirus response May 19, 2020 09:50 PM IST

    Fed, Treasury chiefs face heat over uneven US coronavirus response

    Powell and Mnuchin were testifying to the Senate Banking Committee as Congress considers whether to roll out trillions of dollars of additional aid to bolster an economy that was brought to a virtual standstill by lockdowns imposed in March and April.

  • Fed's Powell: 'Medical metrics' most important data for US economy now: Report May 18, 2020 07:39 PM IST

    Fed's Powell: 'Medical metrics' most important data for US economy now: Report

    "If we are thoughtful and careful about how we reopen the economy so that people take these social distancing measures forward and try to do what we can not to have another outbreak...then the recovery can begin fairly soon," Powell said.

  • Federal Reserve says economic recovery may ‘stretch’ through end of 2021 May 18, 2020 03:26 PM IST

    Federal Reserve says economic recovery may ‘stretch’ through end of 2021

    Jerome H Powell, who heads the central bank, predicted a slow economic recovery and reiterated that policymakers may need to do more

  • Jerome Powell: Recovery may begin by summer, will likely be slow May 18, 2020 09:08 AM IST

    Jerome Powell: Recovery may begin by summer, will likely be slow

    He suggested that a full recovery won't likely be possible before the arrival of a vaccine.

  • Fed chief Jerome Powell has no time to worry about US debt during wartime May 15, 2020 07:10 AM IST

    Fed chief Jerome Powell has no time to worry about US debt during wartime

    Given the choice between leaving the economy without a lifeline and making that debt load even bigger, Federal Reserve Chair Jerome Powell on Wednesday sent a not-so-subtle message to U.S. elected officials: Spend whatever you need in this crisis.

  • Wall Street falls on Powell's grim outlook May 13, 2020 10:22 PM IST

    Wall Street falls on Powell's grim outlook

    It will take some time for the U.S. economy to get back to where it was, Powell said in a webcast, and called for more fiscal stimulus.

  • Jerome Powell: Fed not looking at negative rates May 13, 2020 08:00 PM IST

    Jerome Powell: Fed not looking at negative rates

    In a Webcast Question & Answer hosted by the Peterson Institute for International Economics, Powell said the Fed's view on negative interest rates has not changed and it is not something the policy-setting committee is looking at.

  • S&P 500, Dow open lower as markets digest Powell comments May 13, 2020 07:29 PM IST

    S&P 500, Dow open lower as markets digest Powell comments

    The Dow Jones Industrial Average fell 62.62 points, or 0.26 percent, to 23,702.16 at the open.

  • Jerome Powell warns of a possible sustained recession from coronavirus pandemic May 13, 2020 07:05 PM IST

    Jerome Powell warns of a possible sustained recession from coronavirus pandemic

    Powell says the Fed will “continue to use our tools to their fullest” until the viral outbreak subsides but gives no hint of what the Fed's next steps might be.

  • Gold holds steady ahead of US Federal Reserve chairman's speech May 13, 2020 11:55 AM IST

    Gold holds steady ahead of US Federal Reserve chairman's speech

    Gold held steady on Wednesday as market participants stayed away from making big bets ahead of a speech by Federal Reserve Chairman Jerome Powell amid rising speculation the United States could one day adopt negative interest rates.

  • US Federal Reserve leaves rates near zero, vows to use 'full range' of tools to help economy Apr 29, 2020 11:38 PM IST

    US Federal Reserve leaves rates near zero, vows to use 'full range' of tools to help economy

    With so much uncertainty around the economic outlook, the Fed said it expects to maintain the target range for its benchmark overnight lending rate "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals."

  • Fed likely to renew pledge to use all tools to brace economy Apr 29, 2020 07:50 PM IST

    Fed likely to renew pledge to use all tools to brace economy

    The economy contracted in the first quarter at its sharpest pace since the Great Recession, ending the longest economic expansion in the nation's history, the Commerce Department reported on Wednesday.

  • Coronavirus | How Jerome Powell’s unconventional career path prepared him for this crisis Apr 03, 2020 04:32 PM IST

    Coronavirus | How Jerome Powell’s unconventional career path prepared him for this crisis

    For better or worse, Powell will probably be one of the most consequential central bankers in US history, as he deploys trillions of dollars in unprecedented ways. The question for the economy is whether his long and winding career path will enable him to get it right

  • Fed cuts interest rate to zero, launches $700bn QE programme Mar 16, 2020 07:26 AM IST

    Fed cuts interest rate to zero, launches $700bn QE programme

    The Fed's March 15 move is its second emergency rate cut in less than two weeks

  • Fed Chair Jerome Powell likely to give Congress largely positive economic update Feb 11, 2020 03:17 PM IST

    Fed Chair Jerome Powell likely to give Congress largely positive economic update

    That assessment would echo the formal report the Fed submitted to the U.S. Congress on Friday, which repeated the central bank's view that its current target range for short-term borrowing costs, between 1.5% and 1.75%, is "appropriate" to keep the expansion on track.

  • Gold inches up as Fed raises virus concerns Jan 30, 2020 10:25 AM IST

    Gold inches up as Fed raises virus concerns

    "The Fed acknowledged the new risk (coronavirus) that has come to the market scenario, and said it didn't see 2% as a ceiling for inflation. In other words, it could continue cutting rates even if inflation remained higher," said Michael McCarthy, chief market strategist at CMC Markets.

  • Fed has a role in combating climate change risk, says Jerome Powell Jan 30, 2020 08:17 AM IST

    Fed has a role in combating climate change risk, says Jerome Powell

    "The public has every right to expect and will expect that we will ensure that the financial system is resilient and robust against the risks of climate change," Powell said at a news conference following the Fed's January meeting.

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