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WASHINGTON: Federal Reserve Chairman Jerome Powell, in his first public appearance as head of the U.S. central bank, vowed on Tuesday to prevent the economy from overheating while sticking with a plan to gradually raise interest rates
WASHINGTON: President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies.
WASHINGTON: The Federal Reserve is in "no rush to make a judgment" about further changes to interest rates, Fed Chairman Jerome Powell told U.S. lawmakers on Tuesday as he spelled out the central bank's approach to an economy that is likely slowing.
WASHINGTON: Federal Reserve Chairman Jerome Powell said on Tuesday he sees the United States on track for years more of steady growth, but was challenged in a congressional hearing by senators worried the Trump administration's trade policies were already damaging businesses in their districts.
WASHINGTON: Federal Reserve Chairman Jerome Powell on Thursday stressed again the U.S. central bank can be patient in approving any further rate increases as officials gauge whether the U.S. economy will slow this year, as some in financial markets worry, or continue motoring ahead as the Fed itself expects.
NEW YORK: The Federal Reserve's steady interest rate hikes are the best way to protect the U.S. economic recovery and keep job growth as strong as possible and inflation under control, Fed Chair Jerome Powell said on Friday in a high-profile endorsement of the central bank's current approach to policy
Powell does not think there is a large risk of recession right now
NEW YORK: Bond traders came the closest in four years to a 3% yield on the 10-year Treasury note. Whether it breaches that level may be determined by how new Federal Reserve chairman Jerome Powell handles the limelight.
WASHINGTON: President Donald Trump plans to nominate current Federal Reserve Governor Jerome Powell as the next chair of the U.S. central bank, a source familiar with the matter said.