federal reserve

Confronted with an economy gripped by recession and high unemployment, the Federal Reserve signaled Wednesday that it expects to keep its key short-term interest rate near zero through 2022

With more than 26 million people out of work and a growing number of Americans feeling severely cash-strapped, historically low borrowing rates means that loans are cheaper — if you can get them.

Millions of Americans already have lost their jobs due to the coronavirus crisis and the worst of the damage is yet to come, according to a Federal Reserve estimate. Economists at the Fed’s St. Louis district project total employment reductions of 47 million, which would translate to a 32.1% unemployment rate, according to a recent analysis of how bad things…

The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would…

The Federal Reserve is blasting markets with a bigger and bolder stimulus package, but the response in credit markets has been tepid as stocks continue to sell off.

The Federal Reserve has established currency swaps with nine central banks overseas to support dollar lending in global markets that are under pressure from the impact of the virus outbreak

The Federal Reserve slashed its interest rates on Sunday and pledged to buy at least $700 billion in bonds. But what does that mean? The Associated Press breaks it down.

The Federal Reserve kept its key interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats, including from China’s viral outbreak. The Fed sketched a mostly bright picture of the U.S. economy in a statement it released after its latest policy meeting. Yet it also cautioned that it would monitor...

The Federal Reserve’s decision Wednesday to keep interest rates steady put the cap on a tumultuous year for consumers. After raising the federal funds rate nine times in three years, with the last hike just one year ago as financial markets were melting down, concerns about a slowing economy and a looming U.S.-China trade war then caused the U.S. central...

Paul Volcker, who as chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan helped tame inflation with 22% interest rates that also crunched American manufacturing, farming, and real estate but led the way to two decades of expansion, has died. He was 92. He died on Sunday, according to The New York Times and The Washington Post.

A local man accused of threatening a terror attack could be released from custody and supervised by relatives in Virginia while awaiting trial. A judge ruled Christopher Hasson qualifies for home detention. News4’s Tracee Wilkins reports.

Federal Reserve Chairman Jerome Powell’s assertion this week that the U.S. economy remains strong is facing a stern test from the bond market, which showed a classic recession sign Friday morning. Short-term government fixed income yields are now ahead of the longer part of the curve, delivering a strong recession indication that hasn’t happened since 2007.

Former presidential candidate and Godfather’s Pizza CEO Herman Cain is under consideration for a Federal Reserve governorship, CNBC has confirmed. Cain, 73, is a former chairman of the Kansas City Fed, having served at the bank from 1989-96 before leaving to pursue political activities full time. Cain met with President Donald Trump on Wednesday at the White House, where he...

A rising stock market lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, the culmination of a decade of economic recovery but a gain that is concentrated largely among the most affluent. The value of Americans’ stock and mutual fund portfolios rose $800 billion, while home values increased $600 billion, the Federal Reserve said Thursday. Total...

It’s one of the most common questions financial advisers hear: should I prioritize paying down debt or building up savings? Americans have a cozy relationship with debt — student loans, credit cards and car loans are commonplace. The Federal Reserve said that consumer borrowing rose $24.5 billion in May alone to hit almost $3.9 trillion. And that doesn’t include mortgage...

The former employee who created a major scare inside the headquarters of the U.S. Department of Homeland Security is headed to prison. Scott MacFarlane reports.

Another banking scandal rocked Wells Fargo. A former employee is blowing the whistle on the giant bank and filing suit. Consumer Reporter Susan Hogan explains the impact it has on customers.

Family, friends and coworkers paid tribute to a woman nearly two weeks after her husband shot and killed her before turning the gun on himself. Shomari Stone reports the mother of three was a beloved veterinary assistant.

The Dow Jones industrial average plunged as much as 1,500 points Monday in one of the most historic routs in stock market history. Michael George reports.

The Federal Reserve said Friday it is restricting Wells Fargo’s size in response to “widespread consumer abuses.” As a result, Wells Fargo plans to replace three directors by April and a fourth by the end of the year, CNBC reported. Shares of the bank fell more than 2 percent in after-hours trading. Read More