Federal Reserve
Chicago Federal Reserve president Charles Evans, hosting a virtual roundtable for news media, said that while the second-quarter gross domestic product was the worst on record, declining at an annualised rate of 32.9 percent, with about 18 million unemployed workers, some improvement was seen in May and June as many states eased their lockdown restrictions. […]
The US economy slowed in July after surprising to the upside in May and June as it bounced back from its low in April. St Louis Fed president James Bullard said Monday. Bullard, in webinar remarks at an event hosted by the St Louis Fed’s Memphis branch, repeated that he expects the economy to stabilise […]
Even though the US economy’s partial recovery has lately shown signs of faltering in the face of renewed anti-coronavirus restrictions, it would be little short of astonishing if the Federal Reserve’s policymaking Federal Open Market Committee were to announce any new monetary stimulus initiatives at the conclusion of its two-day meeting Wednesday, having already pulled […]
The presidents of the Richmond and San Francisco Federal Reserve Banks Tuesday saw huge challenges ahead as government virus response programs ebb, landlords without rent payments pressure banks, displaced workers stay unemployed, and customers get less enthusiastic about visits to bricks and mortar establishments as the pandemic hangs on. Richmond Bank President Tom Barkin saw […]
On Thursday, June 25, five federal regulatory agencies finalised a rule modifying the Volcker rule’s prohibition on banking entities investing in or sponsoring hedge funds or private equity funds – known as covered funds. The rule takes effect on October 1. The agencies included the Federal Reserve Board, the Commodity Futures Trading Commission (CFTC), the […]
The Federal Reserve’s emergency relief programs will give way to stimulus and a focus on lowering unemployment whenever the coronavirus crisis has ebbed, San Francisco Fed President Mary Daly said Monday. Speaking at a National Press Club-sponsored event and later to reporters, Daly said it would make no sense to focus on stimulus now, when […]
US Federal Reserve Chair Jay Powell has offered reassurance policymakers are not even “thinking about thinking” about raising rates and shared his worries about possible long-term post-crisis unemployment. Answering questions after the Federal Open Market Committee reaffirmed that what it’s doing now it will keep doing as long as it takes, Powell acknowledged it’s been […]
Federal Reserve Vice Chair Richard Clarida Thursday said he has not changed his mind, that there’s no upside to purposely move to negative rates. Speaking in a webinar sponsored by the New York Association for Business Economics, Clarida also underlined the points made Wednesday and previously by Fed Chair Jay Powell, that the path forward […]
The Federal Reserve remains open to taking more steps as needed to support the recovery, though negative interest rates are not on the table, New York Fed President John Williams said Thursday. Williams, answering questions during a webcast with a regional business group, said the economic outlook and the likely course of interest rates remain […]
The battle of recovery narratives – swift and sharp versus shallow and long – Wednesday saw one of the main players, the Federal Reserve chief, come down on the side of a protracted challenge to survive. Fed Chair Jay Powell chose a think-tank venue, the Peterson Institute for International Economics, to extend his view to […]
