In an interview with NPR, Powell says it may take years before the economy has fully recovered. He says practicing social distancing and wearing masks is essential for the economy to rebound.
The Federal Reserve is adjusting its long-range policy on inflation and employment. The central bank said it's now more concerned with prices that are too low than with runaway inflation.
Companies can borrow money from the Federal Reserve under its new lending programs. It's been good for the stock market, but the central bank's effort to help the economy has had lopsided results.
Lawmakers squabbled over how quickly the economy can rebound from the coronavirus shutdown and whether the government is doing enough to support struggling families and businesses.
Fed Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the pandemic. But he says this will not be another Great Depression.
Jerome Powell said the economy should recover once the coronavirus is under control. But the central bank chief cautioned that without more help, many small businesses may not survive that long.
In its latest salvo, the Federal Reserve announced $2.3 trillion in new lending programs in an effort to keep businesses and local governments afloat during the coronavirus pandemic.
The Federal Reserve has moved quickly and creatively to pump money into the rapidly shrinking U.S. economy in hopes of keeping it afloat long enough to outlast the coronavirus pandemic.
The Federal Reserve cut interest rates by a quarter percentage point Wednesday, in an effort to support an economy that continues to tap the brakes. Economic growth in the third quarter was just 1.9%.
Beyond animals and fun foods, the Minnesota State Fair has a new attraction this year: the Minneapolis Federal Reserve. It's giving away (shredded) money and information about what the bank does.
The central bank will "act as appropriate" to sustain the economic expansion as the trade war with China takes a toll on global growth and parts of the U.S. economy, Fed Chairman Jerome Powell says.
Last week, the Fed voted to cut interest rates despite a decade of economic growth and low unemployment. Interest rates are already super low. What's going on?
The quarter-point cut signals growing concern at the Federal Reserve about a slowdown in the economy amid the trade war with China. The Fed last cut rates in 2008 and raised them as late as December.
The Federal Reserve chairman is testifying before Congress this week about challenges the economy faces. Stocks rallied in anticipation the central bank will lower interest rates later this month.
The Federal Reserve left rates alone, despite pressure from President Trump to pump more money into the economy. But the central bank signaled a willingness to cut rates in the future if needed.
The Trump campaign adviser and conservative pundit who came under criticism from lawmakers and economists has withdrawn his name from consideration to serve on the Federal Reserve Board.
President Trump says he plans to nominate former Godfather's Pizza CEO and GOP White House hopeful Herman Cain to a vacant spot on the Federal Reserve Board.
Moore, a conservative commentator and former Trump campaign adviser, has joined the president in criticizing the central bank. "The Fed is sucking the oxygen out of the economy," Moore has said.
The Federal Reserve left interest rates unchanged Wednesday and signaled that no more rate hikes may be necessary this year amid signs of economic slowing.
The labor market continues to get stronger and the economy is growing at a solid rate, the Federal Reserve said. The central bank also said it will be patient as it decides on future rate increases.
At a time when more women than men are graduating from college and earning doctorates, just a third of Ph.D.s in economics go to women. Now there's an effort to increase women economists at the Fed.
