Photo of Jerome Powell on a television at the New York Stock Exchange

Federal Reserve Proposes Loosening Rules on Bank Investments

WASHINGTON — The Federal Reserve approved a proposal Thursday to loosen a financial-crisis era rule that prevents banks from investing in venture capital funds. The proposal would affect the so-called “Volcker Rule," which was created after the 2008 financi...
Photo of Jerome Powell

Fed Chairman Signals That Rate Cut Could Happen Soon

WASHINGTON — Chairman Jerome Powell signaled Wednesday that the Federal Reserve is likely to cut interest rates late this month for the first time in a decade in light of a weakening global economy and rising trade tensions. Powell said that since Fed offic...
Photo of Jerome Powell

Chairman Says Fed Ready to Respond to Trade Conflicts

WASHINGTON — Chairman Jerome Powell said Tuesday the Federal Reserve is prepared to respond to the Trump administration's trade conflicts to protect the U.S. economy, signaling the Fed will cut interest rates if necessary. "We are closely monitoring the imp...
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Battered Wall Street Rebounds With Best Day in 10 Years

Stocks rocketed on Wednesday in Wall Street's best day in 10 years, snapping a stomach-churning, four-day losing streak and giving some post-Christmas cheer to a market that has been battered this December. The Dow Jones Industrial Average shot up more than...