u.s. federal reserve

Fed raises its key rate for 7th time this year

Top u.s. federal reserve Headlines

‘No good answer’: Fed set for big rate hike

Powell: Fed may accelerate pullback in economic support …

Federal Reserve Chairman Jerome Powell speaks during an event in the South Court Auditorium on the White House complex in Washington, on Nov. 22, 2021. Powell says that the appearance of a new COVID-19 variant could slow the economy and hiring. He also says it raises uncertainty about inflation. Powell says in remarks to be delivered to the Senate Banking Committee Tuesday that he recent increase in coronavirus cases and the emergence of the omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation. (AP Photo/Susan Walsh, File)

President Biden nominating Jerome Powell for 2nd term …

In this Sept. 30, 2021, file photo, Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on Capitol Hill in Washington. Powell says the tangled supply chains and shortages that have bedeviled the U.S. economy since this summer have gotten worse and will likely keep inflation elevated well into next year. (Sarah Silbiger/Pool Photo via AP, File)

U.S. inflation likely to stay elevated for months before …

Federal Reserve Board chairman Jerome Powell testifies on the Federal Reserve's response to the coronavirus pandemic during a House Oversight and Reform Select Subcommittee on the Coronavirus hearing on Capitol Hill in Washington, in this Tuesday, June 22, 2021, file photo. Federal Reserve Chair Jerome Powell said that inflation “will likely remain elevated in coming months" before “moderating,” an apparent acknowledgement that price gains have been larger and more persistent than many economists forecast. In written testimony to be delivered Wednesday, July 14, at noon before the House Financial Services Committee, Powell reiterated his long-held view that the high inflation readings of the past several months have largely been driven by temporary factors, such as supply shortages and surging demand as pandemic-related business restrictions ease.(Graeme Jennings/Pool via AP, File)

Unemployment claims plunge to 576,000, lowest in U.S. …

In this May 7, 2020, file photo, a person looks inside the closed doors of the Pasadena Community Job Center in Pasadena. (AP Photo/Damian Dovarganes, File)

U.S. consumers step up spending 2.4% in January as income …

In this Dec. 10, 2020 file photo, a woman carries shopping bags in New York. (AP Photo/Mark Lennihan, File)

More u.s. federal reserve

Janet Yellen, Neera Tanden lead Biden’s picks for …

This combination photo shows Janet Yellen, left, appearing on FOX Business Network in Washington in August 2019, and Neera Tanden speaking at New Start New Jersey at NJIT in Newark in November 2014. (AP Photo/Andrew Harnik/Mel Evans)

30-year mortgage rates in U.S. stay at record low …

A home for sale with a "sold" sign attached is viewed Monday, Oct. 12, 2020, in Miami Beach, Fla. (AP Photo/Wilfredo Lee)

Spike in coronavirus cases threatens U.S. economy, …

Pedestrians walk by the closed Gold Dust Lounge on Aug. 13, 2020 in San Francisco. (Justin Sullivan/Getty Images)

For Biden, how to help mangled economy is next obstacle

In this Oct. 6, 2020, file photo, city worker Randy Greice, foreground, unloads a pallet of food at a food distribution event in Opa-locka, Fla. President-elect Joe Biden will inherit a mangled U.S. economy, one that never fully healed from the coronavirus and could suffer again as new infections are climbing. The once robust recovery has shown signs of gasping after federal aid lapsed. Ten million remain jobless and more layoffs are becoming permanent. The Federal Reserve found that factory output dropped. (AP Photo/Wilfredo Lee, File)

Americans’ household wealth hits record high even …

In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York. Stocks are falling early on Wall Street Thursday, Sept. 17, as the late selling from the previous day carries over. (AP Photo/Mary Altaffer, File)

U.S. Federal Reserve commits to maintaining stimulus …

Federal Reserve Board Chairman Jerome Powell testifies during a hearing on "The Semiannual Monetary Policy Report to the Congress," in front of the Senate Banking, Housing and Urban Affairs Committee in the Dirksen Senate Office Building on Feb. 12, 2020 in Washington, DC. (Sarah Silbiger/Getty Images via CNN)

Economy may begin to recover by summer if there’s …

A sign on the door of Flannery's Tavern lets customers know the business is still closed on May 13, 2020, in Chesterton, Indiana. (Scott Olson/Getty Images)