WASHINGTON — Chairman Jerome Powell made clear Wednesday that the Federal Reserve is prepared to keep its benchmark interest rate very low through at least next year — and possibly longer. Fueling that expectation is the growing belief of Fed officials that inflation will remain tame even as the economy...
Former Fed Leaders Defend Powell Against Trump's Attacks
WASHINGTON — In a strong rebuke to President Donald Trump, the four living former leaders of the Federal Reserve say the head of the nation's central bank should be able to make interest-rate decisions free of political pressure and the threat of being removed or demoted. The former chairs —...
Federal Reserve Foresees No Interest Rate Hikes in 2019
WASHINGTON — The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes this year, reflecting a dimmer view of the economy as growth weakens in the United States and abroad. The Fed said it was keeping its benchmark rate — which can influence everything from...