Fed Sees Dim Economic Outlook as Virus Squeezes Economy

WASHINGTON — The Federal Reserve expressed concern Wednesday that the persistent viral outbreak will act as a drag on the economy and hiring in the coming months and said it plans to keep its benchmark short-term interest rate pegged near zero to help provide ...
Photo of Federal Reserve Board Chair Jerome Powell

Federal Reserve to Boost Small Business Lending Efforts

WASHINGTON — The Federal Reserve said Monday it will support the government's $349 billion small business lending program, which had a rocky start Friday. The Fed said that it will buy loans that banks make to small businesses as part of the program, which ...
Photo of trader Michael Gallucci

As Central Banks Intervene to Calm Markets, Few See Solution

WASHINGTON — The Federal Reserve and the European Central Bank moved Thursday to try to calm financial markets and restore some degree of confidence. It didn't quite work. The central banks are facing a crisis only partly responsive to the medicine they can pr...
Photo of Federal Reserve Chair Jerome Powell

Fed Leaves Low Rates Alone and Sees No Moves in Near Future

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. “Inflation is barely moving up, notwithstanding that unemployment is...