Photo of Jerome Powell

Fed Stresses Its Commitment to Low Rates for the Long Run

WASHINGTON — The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. The Fed said in a statement after its latest policy meeting that the improvem...

US Consumer Borrowing up $16.2 Billion in September

WASHINGTON — U.S. consumers increased their borrowing in September, helped by the first gain in the category that covers credit cards in seven months. The Federal Reserve reported that total borrowing rose b...

Fed Signals Readiness to Do More for Economy as Virus Rages

WASHINGTON — The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic. The Fed announced no new actions a...
Photo of Jerome Powell

Fed Sees Rates Near Zero Through 2023, Perhaps Longer

WASHINGTON — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at...
Composite image of $100 bills and Rep. Alexandria Ocasio-Cortez

Can the US Make Money Out of Thin Air Like AOC Says?

French philosopher Voltaire famously quipped: “If God did not exist, it would be necessary to invent him.” Something similar can be said of modern monetary theory, also known as MMT, because it may be the economy’s only hope to get through the pandemic. ...
Photo of a woman walking past a store

Fed Survey Says Economy Has Picked up but Outlook Cloudy

WASHINGTON — The Federal Reserve says economic activity has picked up in most regions of the country but still remains well below pre-pandemic levels with the country facing high levels of uncertainty. The Fed reported Wednesday that its latest survey of ec...