Photo of Jerome Powell

A Divided Fed Cuts Key Interest Rate for 2nd time This Year

WASHINGTON — A sharply divided Federal Reserve cut its key benchmark interest rate for a second time this year while saying Wednesday that it's prepared to continue doing what it deems necessary to sustain the U.S. economic expansion. The Fed's move will redu...
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US Adds 224,000 Jobs, Making Fed Rate Cut Less Certain

WASHINGTON — U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy's durability after more than a decade of expansion. The unemployment rate ticked up to 3.7% in June from 3.6% for the previous two ...
Photo of Jerome Powell

Powell Says Trump’s Attacks Played No Role in Rate Pause

WASHINGTON — Federal Reserve Chairman Jerome Powell says political attacks by President Donald Trump played no role in the Fed's decision in January to signal that it planned to take a pause in hiking interest rates. He also said in an interview broadcast Sund...
Portrait of Federal Reserve Chairman Jerome Powell

Fed Raises Interest Rates. What Will It Do in 2019?

WASHINGTON — The Federal Reserve has raised its key interest rate for the fourth time this year to reflect the U.S. economy's continued strength but signaling that it expects to slow hikes next year. The quarter-point hike, to a range of 2.25 percent to 2.5...