Federal Reserve

AP Photo/Jacquelyn Martin

Updated 7/29/20, 11:41 a.m.

WASHINGTON — Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future.

Patrick Semansky/AP

WASHINGTON — The Federal Reserve took emergency action Sunday to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds.

Updated at 4:22 p.m. ET

An emergency interest-rate cut by the Federal Reserve failed to mollify investors worried about the coronavirus epidemic, and stocks once again plummeted.

The Dow Jones Industrial Average ended down 786 points, a drop of 2.94% after an especially volatile trading day.

All the major indexes have lost more than 10% of their value since their all-time highs, moving back into what the market calls a correction.

Patrick Semansky/AP

WASHINGTON — Federal Reserve officials were mostly optimistic about the U.S. and global economies last month, though they noted the risk posed by China’s viral outbreak and said they were ready to keep their benchmark interest rate at its current low level in the coming months.

Steven Senne/AP

The Federal Reserve's decision to leave interest rates alone follows three rate cuts this year.

Patrick Semansky/AP

WASHINGTON — Federal Reserve Chairman Jerome Powell said Friday that the U.S. economy is facing some risks at the moment, but overall it is in a "good place" and the Fed's main job is to "keep it there as long as possible."

Associated Press/Jose Luis Magana

WASHINGTON — Finance officials from the world's major powers acknowledged Friday that the global economy is in a slowdown, but they forecast that growth will pick up by the second half of this year, thanks to interest-rate policies from the Federal Reserve and other central banks.

The Conversation: Wednesday, August 31st, 2016

Aug 31, 2016
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