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Federal Reserve

COVID-19

Fed Chair Powell says full economic recovery depends on managing COVID-19

by David Brancaccio , Nancy Marshall-Genzer and Alex Schroeder
Nov 6, 2020
Social distancing and wearing masks will help get the economy back to full strength, Powell said Thursday.
Drew Angerer/Pool/AFP via Getty Images
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COVID-19

The Fed wants to lend money to more small businesses, but many aren't interested

by Justin Ho
Nov 2, 2020
The central bank dropped the minimum loan amount under its Main Street Lending Program to $100,000. But not many businesses feel confident taking out loans they'll have to repay in five years.
A bartender prepares to open his bar in Ocean City, Maryland, amid the pandemic, May 29, 2020.
Alex Edelman/AFP via Getty Images
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A president and his Fed chair clash. Sound familiar?

by Nancy Marshall-Genzer
Oct 27, 2020
Trump has pressured the head of the Federal Reserve to lower interest rates. But he wasn't the first American leader to do so.
President Lyndon B. Johnson wanted to fire Fed Chair William McChesney Martin Jr. for hiking interest rates. But presidents can't do that, so Johnson gave him a tongue lashing instead and shoved him against a wall.
Keystone/Getty Images
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COVID-19

Fed’s Powell: Lack of further stimulus imperils recovery

by Associated Press
Oct 6, 2020
Powell said that government support has so far prevented a recessionary “downward spiral."
Fed Chairman Jerome Powell is reflected in the sneeze guard set up between himself and members of the House Committee during a hearing in June.
Bill O'Leary/AFP via Getty Images
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Fed looks to overhaul laws meant to make sure lower-income Americans have access to loans

by David Brancaccio , Candace Manriquez Wrenn , Erika Soderstrom and Alex Schroeder
Sep 22, 2020
The law is meant to demand that when banks take deposits from a particular area, they also make loans there.
The Federal Reserve building in Washington, D.C.
Chip Somodevilla/Getty Images
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Fed plans to keep interest rates near zero through 2023. What else can it do for the economy?

by David Brancaccio , Nancy Marshall-Genzer and Alex Schroeder
Sep 17, 2020
Fed Chair Jerome Powell said another relief package from Congress will likely be needed.
The Fed can't make grants. That's Congress' job. "These are lending powers, not spending powers," Fed Chair Jerome Powell said Wednesday.
Brendan Smialowski/AFP via Getty Images
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Elections 2020

Fed's final message before November election: moderation

by Mitchell Hartman
Sep 17, 2020
That's a message that might be reassuring, depending on how the pandemic has treated you, or your business.
Fed Chair Jerome Powell testifies during a hearing on Capitol Hill in June. The Fed has improved their outlook, one analyst said.
Tasos Katopodis/Getty Images
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Federal Reserve sees rates near zero at least through 2023

by Associated Press
Sep 16, 2020
The moves are occurring against the backdrop of an improving yet still weak economy.
Fed Chairman Jerome Powell is reflected in the sneeze guard set up between himself and members of the House Committee during a hearing in June.
Bill O'Leary/AFP via Getty Images
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Race and Economy

There have only been a handful of Black financial regulators, for generations

by Nancy Marshall-Genzer
Sep 7, 2020
Only 10 of 327 top financial regulators appointed by the president and confirmed by the Senate were Black.
About 3% of the financial regulators that oversee Wall Street have been Black, according to a report out from Georgetown University.
Angela Weiss/AFP via Getty Images
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How low interest rates could make inequality worse

by David Brancaccio , Rose Conlon and Erika Soderstrom
Sep 1, 2020
Low interest rates hurt our ability to save.
Karen Petrou, managing partner at Federal Financial Analytics, says there's "nothing" in the Federal Reserve's new policy for "shared prosperity."
Daniel Slim/AFP via Getty Images
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