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Fed holds rates steady, says there is ‘no place for racism in our society’

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 […]

Wall Street slides after Fed Chairman says economic outlook includes ‘great uncertainty’

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...

‘We all want to avoid a false start,’ Fed Chair Powell says on reopening the economy

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...

Coronavirus job losses could total 47 million, unemployment rate may hit 32 percent, Fed estimates

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...

What can the Fed do to help Main Street, not Wall Street?

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...
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