by Troy S. Mason | Jun 11, 2020 | Business News
The Federal Reserve opted Wednesday to keep interest rates at the current level of near zero, until the economy is “in a healthy place,” according to a statement released Wednesday afternoon. Amid historic unemployment and an economy paralyzed by the coronavirus, the central bank said it “expects to maintain this target range until it is […]
by Troy S. Mason | May 14, 2020 | Business News
Wall Street benchmarks closed sharply down on Wednesday, after Federal Reserve Chairman Jerome Powell warned of a longer recession if Congress did not step in with additional fiscal stimulus. The Dow Jones Industrial Average ended the day lower by just over 515...
by Troy S. Mason | Apr 10, 2020 | Business News
Federal Reserve Chairman Jerome Powell expressed caution about reopening the economy too soon, saying “we all want to avoid a false start” in a speech Thursday morning just hours after the central bank announced a new multitrillion-dollar round of...
by Troy S. Mason | Mar 31, 2020 | Business News
Millions of Americans already have lost their jobs due to the coronavirus crisis — and the worst of the damage is yet to come, according to a Federal Reserve estimate. Economists at the Fed’s St. Louis district project total employment reductions of 47 million, which...
by Troy S. Mason | Mar 24, 2020 | Business News
The markets continued their downward trajectory Monday in spite of a sweeping pledge from the Federal Reserve to support the economy as coronavirus shutdowns accelerated around the country. With consumer spending crippled by “stay at home” orders, many...
