Investors Are Focused on Treasurys. Here’s What the Fed Could Do.

Central bankers have said they aren’t worried about a pop in longer-term bond yields. If they do become concerned, they have some options.

#banking-and-financial-institutions, #brainard-lael, #credit-and-debt, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #stocks-and-bonds, #united-states-economy

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Why Market Investors Are Now Troubled by Signs of Surging Growth

The markets are stressed at the prospect of an economic rebound, which is forcing investors to reassess their holdings.

#credit-and-debt, #federal-reserve-system, #government-bonds, #inflation-economics, #interest-rates, #powell-jerome-h, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds, #treasury-department, #united-states, #united-states-economy

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Powell Says Better Child Care Policies Might Lift Women in Work Force

The Fed chair said better caregiving options was an “area worth looking at” for Congress, while reiterating the central bank’s full-employment pledge.

#child-care, #federal-reserve-system, #labor-and-jobs, #powell-jerome-h, #quantitative-easing, #unemployment, #united-states-economy, #united-states-politics-and-government, #women-and-girls

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How Is the Fed Thinking About Unemployment?

Our economics reporter gives a rundown on the real unemployment rate, stimulus checks and inflation.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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Powell Focuses on Economic Need at Key Moment in Markets and Politics

The Federal Reserve will continue to support the economy, its chair, Jerome H. Powell, pledged at a Senate hearing, even as concerns about inflation rise.

#federal-reserve-system, #interest-rates, #powell-jerome-h, #quantitative-easing, #senate-committee-on-banking, #toomey-patrick-j, #united-states-economy, #united-states-politics-and-government

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Democrats Push to Borrow More Money as Deficit Is Set to Shrink Slightly in 2021

Top Democrats and some of President Biden’s advisers are considering borrowing money to fund a sweeping infrastructure package as the nation’s fiscal situation improves more rapidly than expected.

#biden-joseph-r-jr, #congressional-budget-office, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-budget-us, #federal-reserve-system, #house-committee-on-ways-and-means, #house-of-representatives, #neal-richard-e, #pelosi-nancy, #powell-jerome-h, #schumer-charles-e, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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Do Fed Policies Fuel Bubbles? Some See GameStop as a Red Flag

Analysts warn that low-interest rates are promoting speculative bubbles. The Fed itself has downplayed the possibility that it’s behind asset prices.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #federal-reserve-system, #gamestop-corporation, #interest-rates, #powell-jerome-h, #reddit-inc, #stocks-and-bonds, #united-states-economy

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Fighting Covid Is Like Fighting a War

Why Biden needs to go big and ignore the worriers.

#biden-joseph-r-jr, #committee-for-a-responsible-federal-budget, #congressional-budget-office, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #polls-and-public-opinion, #recession-and-depression, #stimulus-economic, #summers-lawrence-h, #united-states-economy

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Yellen and Regulators Met Amid GameStop Frenzy to Discuss Market Volatility

The Treasury Secretary met with her fellow regulators to discuss whether markets need new attention after the rise of so-called “meme stocks.”

#commodity-futures-trading-commission, #federal-reserve-bank-of-new-york, #federal-reserve-system, #yellen-janet-l

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Why Are There So Few Black Economists at the Fed?

Monroe Gamble became the San Francisco Fed’s first Black research assistant in 2018. His path shows why fixing a striking diversity shortfall will take commitment.

#banking-and-financial-institutions, #black-people, #colleges-and-universities, #daly-mary-c, #federal-reserve-bank-of-chicago, #federal-reserve-bank-of-san-francisco, #federal-reserve-system, #hiring-and-promotion, #labor-and-jobs, #minorities, #race-and-ethnicity, #united-states-economy, #united-states-politics-and-government

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Pandemic Rescue: It’s ‘And’ Not ‘Or’

Why you shouldn’t nitpick over the details.

#biden-joseph-r-jr, #congressional-budget-office, #coronavirus-2019-ncov, #democratic-party, #federal-budget-us, #federal-reserve-system, #inflation-economics, #national-debt-us, #stimulus-economic, #summers-lawrence-h, #united-states-economy, #united-states-politics-and-government

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How Full Employment Became Washington’s Creed

Policymakers are eager to return to the period of low unemployment that preceded the pandemic and are less concerned than in previous eras about sparking inflation and taking on debt.

#daly-mary-c, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #recession-and-depression, #stimulus-economic, #treasury-department, #unemployment, #united-states-economy

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Janet Yellen Readies Big Changes for Treasury

From financial regulation to minority lending, Biden’s pick is poised to change course sharply from the policies of Secretary Steven Mnuchin.

#adeyemo-adewale, #appointments-and-executive-changes, #banking-and-financial-institutions, #bernanke-ben-s, #biden-joseph-r-jr, #brookings-institution, #dodd-frank-wall-street-reform-and-consumer-protection-act-2010, #federal-reserve-system, #financial-stability-oversight-council, #mnuchin-steven-t, #presidential-transition-us, #regulation-and-deregulation-of-industry, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

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When Will Interest Rates Rise? Fed Chair Says ‘No Time Soon’

Jerome H. Powell, chair of the Federal Reserve, said the central bank remained far from dialing back support for the economy.

#federal-reserve-bank-of-san-francisco, #federal-reserve-system, #interest-rates, #united-states, #united-states-economy

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The Most Important Thing Biden Can Learn From the Trump Economy

A “hot” economy with high deficits didn’t cause runaway inflation.

#biden-joseph-r-jr, #federal-budget-us, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #national-debt-us, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Market Edges Toward Euphoria, Despite Pandemic’s Toll

Investors of all stripes piled into stocks this year, creating levels of froth reminiscent of the dot-com boom. Analysts say there’s room to go higher, but some worry about a bubble.

#airbnb, #coronavirus-2019-ncov, #doordash-mobile-app, #etsy-inc, #federal-reserve-system, #initial-public-offerings, #palantir-technologies, #robinhood-financial-llc, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds

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The Year the Fed Changed Forever

Jerome H. Powell’s central bank slashed rates, bought bonds in huge sums and rolled out never-before-tried loan programs that shifted its identity. The backlash is already beginning.

#banking-and-financial-institutions, #content-type-personal-profile, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #mnuchin-steven-t, #powell-jerome-h, #treasury-department, #united-states-economy, #united-states-politics-and-government

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Lawmakers Resolve Fed Dispute as They Race to Close Stimulus Deal

Top senators appeared to strike an agreement on the central bank’s lending powers as they struggled to clear away the last sticking points in the $900 billion compromise plan.

#bernanke-ben-s, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #mcconnell-mitch, #pelosi-nancy, #powell-jerome-h, #stimulus-economic, #toomey-patrick-j, #united-states-economy, #united-states-politics-and-government

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Congress Clears Two-Day Spending Extension to Finalize Stimulus Deal

The short time frame signaled optimism that Congress could come to agreement on the $900 billion economic recovery plan, but a last-minute dispute over the Fed’s lending powers emerged as a stubborn final sticking point.

#biden-joseph-r-jr, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-reserve-system, #republican-party, #senate, #stimulus-economic, #toomey-patrick-j, #united-states-economy, #united-states-politics-and-government

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What Is 13-3? Why a Debate Over the Fed Is Holding Up Stimulus Talks

The Fed’s emergency lending authorities are a key part of its job. Republicans want to curb them. Democrats are pushing back.

#banking-and-financial-institutions, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #mnuchin-steven-t, #presidential-election-of-2020, #stimulus-economic, #stocks-and-bonds, #toomey-patrick-j, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

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Banks Can Resume Buybacks and Pay Dividends if They’re Profitable, Fed Says

Earlier this year, the regulator froze buybacks and put a lid on banks’ dividend payouts. Now it is slightly loosening those restrictions.

#banking-and-financial-institutions, #dividends-finance, #federal-reserve-system, #regulation-and-deregulation-of-industry

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Fed Leaves Rates Unchanged and Commits to Ongoing Bond Purchases

Central bank officials left rates near-zero at their December meeting, and tied bond buying to their employment and price goals.

#coronavirus-2019-ncov, #federal-reserve-system, #interest-rates, #labor-and-jobs, #quantitative-easing, #stocks-and-bonds, #united-states-economy

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Fed Closes Out Wild Year as All Eyes Focus on Bond-Buying Program

The central bank’s meeting will wrap up Wednesday, as the Fed stares down a bifurcated economic outlook.

#coronavirus-2019-ncov, #federal-reserve-system, #powell-jerome-h, #stimulus-economic, #treasury-department, #united-states-economy

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Fed Joins Climate Network, to Applause From the Left

The central bank joined a network of global financial regulators focused on climate risk. The response to the move underlined its tricky politics.

#bank-of-england, #bank-of-japan, #banking-and-financial-institutions, #barr-andy, #biden-joseph-r-jr, #brainard-lael, #coronavirus-2019-ncov, #daly-mary-c, #federal-reserve-system, #global-warming, #lagarde-christine, #powell-jerome-h, #quarles-randal-k, #schatz-brian, #united-states-politics-and-government

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A Trump Fed Pick Squeaks Through Senate Confirmation

Christopher Waller will be the fifth Trump pick on the Fed’s seven-member Board of Governors.

#appointments-and-executive-changes, #banking-and-financial-institutions, #federal-reserve-system, #interest-rates, #senate, #trump-donald-j, #united-states-economy, #united-states-politics-and-government, #waller-christopher-1959

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Biden’s Cabinet Picks, Part 1: Janet Yellen

A look at the president-elect’s choice of Treasury secretary and how she might tackle the pandemic-provoked financial crisis.

#federal-reserve-system, #presidential-transition-us, #san-francisco-calif, #treasury-department, #united-states-economy, #united-states-politics-and-government, #women-and-girls, #yellen-janet-l

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In Praise of Janet Yellen the Economist

She never forgot that economics is about people.

#federal-reserve-system, #inflation-economics, #presidential-election-of-2020, #recession-and-depression, #subprime-mortgage-crisis, #treasury-department, #united-states-economy, #yellen-janet-l

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Janet Yellen Has Excelled at Big Jobs. This Will Be the Hardest One Yet.

The nominee for Treasury secretary will face the tricky politics of generating a strong recovery out of the pandemic.

#economic-conditions-and-trends, #federal-reserve-system, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

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Janet Yellen Set to Lead Treasury Department Under Biden

The former Fed chair, a labor market expert, appears poised to lead President-elect Biden’s Treasury Department.

#akerlof-george-a, #appointments-and-executive-changes, #biden-joseph-r-jr, #federal-reserve-system, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

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Mnuchin Cites Principles in Clawing Back Fed Money. Democrats See Politics.

Trump’s Treasury secretary said Congress wanted key economic supports to end by Dec. 31, a view he expressed only after the vote count in the presidential election.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-system, #mnuchin-steven-t, #powell-jerome-h, #stimulus-economic, #treasury-department, #united-states-economy

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Mnuchin’s Inglorious Endgame

The Trump administration’s abrupt decision to curtail the Federal Reserve’s emergency lending programs is a gamble with no upside.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #mnuchin-steven-t, #presidential-election-of-2020, #presidential-transition-us, #stimulus-economic, #treasury-department, #united-states-economy, #united-states-politics-and-government

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Economic Policy Has Become a Partisan Game. That Could Do Long-Term Harm.

Mnuchin’s move and Shelton’s near-confirmation suggest a future of greater risks each time party control changes.

#appointments-and-executive-changes, #coronavirus-aid-relief-and-economic-security-act-2020, #economic-conditions-and-trends, #federal-reserve-system, #mnuchin-steven-t, #shelton-judy, #stimulus-economic, #united-states-economy

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How Steve Mnuchin Snubbed Joe Biden

He terminated emergency-lending programs that will limit the new administration’s options — and upset the Federal Reserve, too.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #senate, #stimulus-economic, #treasury-department, #trump-donald-j, #united-states-economy

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Mnuchin Plans to End Some Emergency Fed Facilities

The Treasury Department asked the Federal Reserve to return unused funds, which could prevent a new secretary from restarting key loan programs.

#coronavirus-2019-ncov, #credit-and-debt, #federal-aid-us, #federal-reserve-system, #mnuchin-steven-t, #treasury-department, #united-states-politics-and-government

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Judy Shelton, Trump Fed Nominee, Fails to Advance to Final Vote

Ms. Shelton, a Trump loyalist with unusual views, hit a major setback. But her journey toward the Federal Reserve’s Board of Governors may not be over.

#appointments-and-executive-changes, #banking-and-financial-institutions, #economics-theory-and-philosophy, #federal-reserve-system, #gold, #interest-rates, #mcconnell-mitch, #senate, #shelton-judy, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Biden’s Transition Teams Suggest Tougher Wall Street Oversight

The president-elect has chosen proponents of stronger regulation to begin reviewing financial agencies.

#banking-and-financial-institutions, #consumer-financial-protection-bureau, #consumer-protection, #dodd-frank-wall-street-reform-and-consumer-protection-act-2010, #english-leandra, #federal-deposit-insurance-corp, #federal-reserve-system, #gensler-gary-s, #kelleher-dennis-m, #presidential-transition-us, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #shelton-judy, #united-states-economy, #waller-christopher-1959

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Lael Brainard’s Steady Rise Could Culminate in Treasury Secretary Post

The Fed governor is seen as a top candidate for the job, though some progressives try to paint her as a centrist who was soft on China.

#banking-and-financial-institutions, #biden-joseph-r-jr, #brainard-lael, #federal-reserve-system, #presidential-transition-us, #treasury-department, #united-states-economy, #united-states-politics-and-government

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Federal Reserve’s Emergency Loan Programs at Center of Political Fight

Democrats are eyeing the programs as a backup option if they can’t strike a deal to aid states and localities, and believe they may be needed to backstop markets. Republicans want them off the table.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #democratic-party, #federal-reserve-system, #mnuchin-steven-t, #municipal-bonds, #powell-jerome-h, #presidential-election-of-2020, #republican-party, #stimulus-economic, #treasury-department, #united-states-economy, #united-states-politics-and-government

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In a Divided Washington, Biden Could Still Exert Economic Power

If Republicans control the Senate, a Biden administration could take a cue from President Trump and find ways to act unilaterally on some economic issues.

#biden-joseph-r-jr, #consumer-financial-protection-bureau, #cordray-richard, #coronavirus-aid-relief-and-economic-security-act-2020, #corporate-taxes, #federal-reserve-system, #federal-taxes-us, #international-trade-and-world-market, #kraninger-kathy, #minimum-wage, #presidential-election-of-2020, #quarles-randal-k, #regulation-and-deregulation-of-industry, #stimulus-economic, #student-loans, #tiktok-bytedance, #trump-donald-j, #united-states-economy, #united-states-politics-and-government, #wechat-mobile-app

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Why the Biden Economy Could Be the Same Long Slog as the Obama Economy

With continuing Republican control of the Senate likely, the sort of large-scale stimulus some economists have urged may be off the table.

#biden-joseph-r-jr, #economic-conditions-and-trends, #federal-reserve-system, #powell-jerome-h, #recession-and-depression, #stimulus-economic, #united-states-economy

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How the White House Rolled Back Financial Regulations

Under President Trump, agencies have eased bans on Wall Street risk-taking and loosened consumer protections and anti-discrimination laws.

#banking-and-financial-institutions, #community-reinvestment-act, #consumer-financial-protection-bureau, #consumer-protection, #debt-collection, #discrimination, #dodd-frank-wall-street-reform-and-consumer-protection-act-2010, #federal-reserve-system, #quarles-randal-k, #regulation-and-deregulation-of-industry, #trump-donald-j, #united-states-politics-and-government

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Fed Holds Rates Steady and Signals Continued Wariness

The Federal Reserve made few changes to its policy statement during a week fraught with uncertainty.

#coronavirus-2019-ncov, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #interest-rates, #labor-and-jobs, #small-business, #unemployment, #united-states-economy

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In Building Economic Team, Biden Faces Tug From Left and Center

The Democratic nominee is seeking to balance experience and diversity in preparing a team for a potential administration if he wins in November.

#biden-joseph-r-jr, #brainard-lael, #democratic-party, #federal-reserve-system, #ferguson-roger-w-jr, #goolsbee-austan-d, #labor-and-jobs, #powell-jerome-h, #presidential-election-of-2020, #raskin-sarah-bloom, #treasury-department, #united-states-economy, #united-states-politics-and-government, #warren-elizabeth, #yellen-janet-l

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The Fed’s $4 Trillion Lifeline Never Materialized. Here’s Why.

The Federal Reserve was meant to take $454 billion and drastically expand it. So far, it has lent $20 billion.

#banking-and-financial-institutions, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-aid-us, #federal-budget-us, #federal-reserve-system, #house-of-representatives, #interest-rates, #local-government, #mnuchin-steven-t, #regulation-and-deregulation-of-industry, #senate, #stocks-and-bonds, #treasury-department, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Why Biden Will Need to Spend Big

The economic case for deficit spending is overwhelming.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #credit-and-debt, #federal-budget-us, #federal-reserve-system, #interest-rates, #savings, #united-states-economy, #united-states-politics-and-government

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Finding the Right Path in an Up-and-Down Market

Does the latest twist herald the end of a bull run or the beginning of a shift toward long-neglected niches?

#american-express-company, #banking-and-financial-institutions, #blackrock-inc, #chegg-inc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #goldman-sachs-group-inc, #inflation-economics, #intercontinental-exchange-inc, #interest-rates, #lazard-llc, #leuthold-group, #medtronic-inc, #nasdaq-composite-index, #netflix-inc, #recession-and-depression, #roku, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government, #vanguard-group-inc

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Jerome Powell, Fed Chair, Says Economy Has ‘a Long Way to Go’

Jerome H. Powell, the Federal Reserve chair, called the recovery “incomplete” and highlighted that it was better to overdo the pandemic policy response than to undershoot.

#coronavirus-2019-ncov, #federal-reserve-system, #powell-jerome-h, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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U.S. Household Wealth Rose Before the Pandemic, but Inequality Persisted

A Federal Reserve survey of family finances shows that inequality was high last year. It’s likely to worsen because of the pandemic.

#black-people, #coronavirus-2019-ncov, #families-and-family-life, #federal-reserve-system, #hispanic-americans, #income, #income-inequality, #labor-and-jobs, #recession-and-depression, #stocks-and-bonds, #unemployment, #united-states-economy, #wages-and-salaries

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$2.50 a Year in Interest? That’s What $5,000 in Savings Gets

With the Federal Reserve keeping rates low, home buyers are benefiting. But savers? Their average interest rate is just 0.05 percent.

#banking-and-financial-institutions, #certificates-of-deposit, #content-type-service, #coronavirus-2019-ncov, #federal-deposit-insurance-corp, #federal-reserve-system, #interest-rates, #personal-finances, #savings

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Fed Forecasts Low Interest Rates for Years, and Until Inflation Picks Up

The Federal Reserve’s latest economic forecasts suggest that interest rates will remain near zero at least through 2023.

#banking-and-financial-institutions, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #stimulus-economic, #united-states-economy

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