Fed to hold rates steady, entering wait-and-see mode

by Sarah Serota | Jan 29, 2025 | Business, Featured

WASHINGTON – After three consecutive rate cuts, Federal Reserve Chair Jerome Powell announced Wednesday the  Fed will hold the federal funds rate constant at 4.25-4.50%.  During its first meeting of 2025, the Fed decided it would not act amidst “somewhat elevated”...

“Trump Trade” soars in aftermath of Tuesday’s elections

by Ananya Chag | Nov 6, 2024 | Business, Campaign 2024, Featured

WASHINGTON – U.S. stock futures soared to record highs Wednesday in response to Donald Trump’s win in the battle against Vice President Kamala Harris for president. The Dow Jones Industrial Average rose 3.4%, or around 1,430 points, around 1:50 pm EST, notching...

Fed Governor Waller, “Shadow Fed” Weigh Monetary Policy Rules

by Hannah Webster | Oct 15, 2024 | Business, Featured

WASHINGTON — Federal Reserve Governor Christopher Waller credited the Shadow Open Market Committee for “[elevating] the public debate about monetary policy” and added to the consideration of monetary policy rules, in a keynote address at the group’s 50th anniversary...

‘First line of defense against financial turmoil’; economists call for the destigmatization of ‘discount window lending’

by Alicia Tang | Feb 15, 2024 | Business, Featured

WASHINGTON – Economists promoted increased usage of the Fed’s discount window to insulate the economy from risks of financial crisis at a hearing on Thursday.  The economists stressed the importance of destigmatizing discount window lending from the Fed before the...

‘We’re in risk management mode:’ Fed chair expects no rate cuts through March

by Alicia Tang | Feb 1, 2024 | Business, Featured

WASHINGTON – The Federal Reserve on Wednesday left its key interest rate unchanged for the fourth consecutive meeting, with Chair Jerome Powell quashing hope of rate cuts in March. The unanimous vote by the 12-member, rate-setting Federal Open Market Committee called...