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The Federal Reserve chairman tells NPR that the U.S. economy is on a clear path to recovery thanks to the Fed's rescue plan and the stimulus passed by Congress.
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The Federal Reserve has raised its forecast for economic growth, thanks to an improving public health outlook and trillions of dollars in federal spending.
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Powell warned it will take time to put millions of jobless Americans back to work, while also downplaying inflation threats.
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The 47-50 vote came as Sens. Mitt Romney and Susan Collins sided with Democratic senators to preserve a filibuster of Judy Shelton's confirmation. Two other Republicans missed the vote.
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The Senate is expected to vote this week on the controversial nomination of Judy Shelton to the Federal Reserve's governing board. She appears to have support from a slim majority of senators.
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Federal Reserve Bank of Atlanta President Raphael Bostic on the need for more economic stimulus from the federal government, the uneven rebound, and a more vocal central bank on race and the economy.
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The Federal Reserve left interest rates near zero Wednesday and pledged it was ready to use all of its available tools to support an economic recovery that appears to be weakening.
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The Senate Banking Committee took its first look at spending under the massive CARES Act approved in March. Sen. Elizabeth Warren said more should have been done to keep U.S. workers on the payroll.
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The economic consequences of efforts to slow the spread of COVID-19 are becoming clear. A half million people in Florida have filed for unemployment in…
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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.
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Prompted by a request by Sen. Chuck Schumer, D-N.Y., the department's acting inspector general said he will look into what led to a postponement of the abolitionist's appearance on the note.
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Alexander Torshin and Maria Butina met in 2015 with top leaders in the Treasury Department and Federal Reserve, according to materials obtained under the Freedom of Information Act.