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Federal Reserve

Resurgent economy foils Fed inflation fight

by Mitchell Hartman
Mar 8, 2023
Strong consumer spending and job gains so far in 2023 spur Fed Chair Powell to double down on rate hikes.
U.S. Federal Reserve Board Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee.
Mandel Ngan/AFP via Getty Images
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Pandemic-era retirements have left a gap in the labor force

by Kristin Schwab
Mar 7, 2023
About 2.2 million more people are retired than the Federal Reserve had expected.
Fear of contracting COVID-19 in their workplaces led some older adults to retire sooner than planned. Higher property values and bigger investment accounts helped others make the transition.
Joe Raedle/Getty Images
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Shelf Life

The Federal Reserve's economic policy powers might be limitless, but should they?

by Jeanna Smialek
Feb 27, 2023
In her book "Limitless," New York Times reporter Jeanna Smialek asks how the Fed arrived at this powerful state.
"[Fed Chair Jerome] Powell and his colleagues knew, even as business news channels cheered on the forceful March 23 response that morning, that it would open his institution up to political criticism and possible mission creep," writes Jeanna Smialek in her new book. Above, Powell during an interview on Feb. 7.
Julia Nikhinson/Getty Images
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Federal regulators warn banks on crypto: Be careful

by Kimberly Adams
Feb 24, 2023
Three agencies aim to keep traditional banks from getting too involved in cryptocurrency, which has lost value and seen corporate meltdowns.
Although the Federal Reserve and other agencies are not imposing new regulations on cryptocurrency, their joint statement highlights liquidity risks.
Stefani Reynolds/AFP via Getty Images
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The Fed's Lael Brainard is leaving monetary policy for fiscal policy

by Stephanie Hughes
Feb 14, 2023
It takes a versatile person to go from setting interest rates to setting an economic agenda, one expert says.
Economist Lael Brainard will be the next director of the National Economic Council, the White House announced Tuesday.
Drew Angerer/Getty Images
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Here's what to look for in the latest consumer price index

by Matt Levin
Feb 13, 2023
CPI looked like it was heading in the right direction — that of lower inflation — at the end of 2022. Is that trend going to continue?
While goods may be getting cheaper, prices for services like hotels and rental cars are still getting pricier.
Michael M. Santiago/Getty Images
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Jobless claims remain historically low amid Fed's efforts to slow wage growth

by Lily Jamali
Feb 9, 2023
What does this mean for their anti-inflation strategy?
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on Feb. 1, 2023 in Washington, DC.
Kevin Dietsch / Getty Images
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A strong dollar is hurting exports, helping imports and expanding the trade deficit

by Mitchell Hartman
Feb 7, 2023
The dollar's strong because the Federal Reserve's been raising interest rates.
American exports have been hurt by the slowing global economy and the strong dollar. Above, a container ship at Cuxhaven, Germany.
Sean Gallup/Getty Images
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Fed lifts rate by a quarter-point and signals more hikes ahead

by Associated Press
Feb 1, 2023
The increase is smaller than previous rate hikes but marks the Fed's eighth hike since March in its fight to tame inflation.
Federal Reserve Chair Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on Dec. 14.
Alex Wong/Getty Images
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Formerly a cash cow, the Fed is now losing "about $2 billion a week"

by Nancy Marshall-Genzer
Feb 1, 2023
The central bank invested in securities to get the economy through the pandemic recession.
The U.S. Federal Reserve is seen in Washington, DC. The bank has been a source of government revenue for years following the 2008 financial crisis, but rising interest rates may soon change that.
Mandel Ngan/AFP via Getty Images
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