Speaking at a virtual version of the Fed’s Jackson Hole conference, Jerome Powell gave an assessment of the economy in prepared remarks.
Banks are awash in deposits, and their customers are taking out fewer loans. So they have little choice but to buy up government debt, even if it means skimpy profits.
Year 1 of the Fed’s framework, unveiled at its Jackson Hole conference in 2020, has included high inflation and job market healing. Now comes the hard part.
The central bank will release its policy statement on Wednesday, followed by a news conference with Chair Jerome H. Powell.
Chill out. The Fed isn’t rolling the printing presses to pay the bills.
To bolster slumping demand for the vaccine, the state will use federal coronavirus relief funds to pay for a weekly lottery beginning May 26.
The Federal Reserve said the economy had “strengthened” but opted to continue providing support while playing down a rise in inflation.
The Federal Reserve crossed red lines to rescue markets in March 2020. Is there enough momentum to fix the weaknesses the episode exposed?
The markets are stressed at the prospect of an economic rebound, which is forcing investors to reassess their holdings.
A recent rise in interest rates hints that a recovery is on the way, but it could also mean harder choices ahead on spending.
Cities and states issued at least $6.1 billion in pension bonds last year. Novel ways to do so include renting property they already own under dummy corporations.
The early gains had come as investors bet that victories by Democrats in two runoff elections for the Senate in Georgia would lead to a surge in federal spending.
The pandemic is intensifying the competition among cities, which are rushing to build bigger, more alluring event spaces.
On Day 1 of new restrictions, the Bank of England and British Treasury announced expanded efforts to support the nation’s finances.
The S&P 500 was down 3.5 percent after France and Germany announced new lockdown measures, an unwelcome reminder of the recovery’s fragility.
The country’s debt now exceeds the size of its gross domestic product. For decades, this was considered a doomsday scenario that would wreck the economy. So far, that hasn’t happened.
BlackRock, the world’s largest asset management company, is opposing a debt settlement deal with Argentina as the country grapples with soaring poverty and the pandemic.
The Dodd-Frank financial law succeeded at making banks safer, but empowered shadowy corners of finance that nearly wrecked the system in March.
New measures by the European Central Bank and the German government to combat the economic damage caused by the pandemic have exceeded expectations.
Adopting the proposal would make history for the bloc, vesting authority in Brussels in ways that more closely resembled a central government.
The European Commission wants to issue bonds to raise the funds, taking a step closer to a shared budget potentially paid for through common taxes.
Large parts of financial markets are now being managed by the government. Even if they don’t like it, investors must acknowledge it.
Jerome H. Powell, who heads the central bank, predicted a slow economic recovery and reiterated that policymakers may need to do more.
With businesses closed and obligations mounting, state finances are stretched and poised to worsen.
Global shares rose one day after coronavirus fears and oil market disruptions caused the biggest stock sell-off in a decade. Still, bonds and gold prices signaled persistent worries.
Wall Street looked poised for a sharp drop on Monday morning after the outbreak worsened in Europe and the U.S. Oil prices and bond yields tumbled.