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Federal Reserve

Central banking system of the United States

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Federal Reserve: Central banking system of the United States
The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.

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Should I refinance my mortgage? How to know when the time is right

The Federal Reserve signaled that it won't raise interest rates in 2020. What does that mean for homeowners?
USATODAY.com - Published

Fed leaves rates alone, foresees no moves in 2020

The Federal Reserve left its benchmark interest rate alone Wednesday and signaled that it expects to keep low rates unchanged through next year. (Dec. 11)  
USATODAY.com - Published

Videos for Federal Reserve


Weak ahead on Wall Street [Video]Weak ahead on Wall Street

A pair of tech titans, Apple and Microsoft, report earnings, and Fed policy makers meet to discuss interest rates in the week ahead. Fred Katayama reports.

Credit: Reuters Studio     Duration: 01:10Published

Economic bright spots send Wall St. to new records; FedEx disappoints [Video]Economic bright spots send Wall St. to new records; FedEx disappoints

Stocks crept higher to set new record closing highs but shares of FedEx fell after the delivery company posted disappointing quarterly results across the board. Conway G. Gittens has the market action.

Credit: Reuters Studio     Duration: 01:53Published

Week ahead: Nike, FedEx results and inflation data [Video]Week ahead: Nike, FedEx results and inflation data

Nike and FedEx, two companies with big exposure to the global economy, are set to report quarterly results in the upcoming week. Conway G. Gittens has a look at the week's major events.

Credit: Reuters Studio     Duration: 01:26Published

Wall Street hits records on news of trade deal [Video]Wall Street hits records on news of trade deal

Wall Street's main indexes hit record highs on Thursday following news that the United States had reached a "deal in principle" with China to resolve a trade war that has rattled markets for nearly two..

Credit: Reuters Studio     Duration: 01:14Published

Day of firsts as ECB's Lagarde pledges new style [Video]Day of firsts as ECB's Lagarde pledges new style

Christine Lagarde struck a more upbeat tone on the economy in her first news conference as head of the European Central Bank on Thursday and promised a new style of leadership. David Pollard reports.

Credit: Reuters Studio     Duration: 02:00Published

U.S. stocks rise after Fed decision [Video]U.S. stocks rise after Fed decision

Wall Street's main stock indexes ended modestly higher on Wednesday after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged..

Credit: Reuters Studio     Duration: 01:15Published

Fed keeps interest rates on hold amid 'favorable' outlook [Video]Fed keeps interest rates on hold amid 'favorable' outlook

The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to..

Credit: Reuters Studio     Duration: 01:27Published

Former Fed Chief Paul Volcker, inflation tamer, dies [Video]Former Fed Chief Paul Volcker, inflation tamer, dies

Former Federal Reserve Chairman Paul Volcker, famed for turning the position of Fed chief into a rock star and for taming crippling inflation in the 1980s, died on Monday. Conway G. Gittens has a look..

Credit: Reuters - Politics     Duration: 02:11Published

Strongest U.S. hiring in 10 months [Video]Strongest U.S. hiring in 10 months

U.S. job growth increased by 266,000 in November, the biggest jump in 10 months, despite a slump in the manufacturing sector and overall uncertainty due to numerous trade spats between the U.S. and..

Credit: Reuters - Politics     Duration: 01:41Published

Trump's metals tariff tweet roils Brazil, Argentina [Video]Trump's metals tariff tweet roils Brazil, Argentina

U.S. President Donald Trump on Monday said he would restore tariffs on steel and aluminum imports from Brazil and Argentina, surprising officials in the two South American countries who sought..

Credit: Reuters Studio     Duration: 01:40Published

 

Is now a good time to buy a house? Economists say yes as the Federal Reserve holds interest rates steady

The Federal Reserve signaled it won't raise interest rates for the time being, a potential boon for first-time homebuyers in 2020.
USATODAY.com - Published

Is now a good time to refinance your mortgage?

With the Fed holding off on interest rate cuts for the time being, some home buyers are wondering whether now is the time to refinance their mortgage.
USATODAY.com - Published

Fed stands pat on rates, signals no cuts, or hikes, in 2020

Fed held key interest rate steady and forecast no cuts or hikes in 2020. That reaffirms it's on hold unless events cause "material" outlook change.
USATODAY.com - Published

Paul Volcker was the Federal Reserve knight who killed inflation

Volcker, who died Sunday at the age of 92, accomplished a task that seemed impossible.
USATODAY.com - Published

Paul Volcker, former Fed Chairman who tamed high inflation in the 1980s, dies at 92

Former Federal Reserve Chairman Paul Volcker, who headed the central bank from 1979 to 1987, has died at age 92.
USATODAY.com - Published Also reported by •NYTimes.com

Former Fed Chief Paul Volcker, inflation slayer, dies at 92

Paul Volcker, the towering former Federal Reserve chairman who tamed U.S. inflation in the 1980s and decades later inspired tough Wall Street reforms in the wake of the global financial crisis, died on..
Reuters - Published

Factbox: Volcker quotes on U.S. banks, inflation, government

Paul Volcker, the towering former Federal Reserve chairman who tamed U.S. inflation in the 1980s and decades later inspired tough Wall Street reforms in the wake of the global financial crisis, died on..
Reuters - Published

U.S. economy growing modestly, labor market still tight: Fed report

The U.S. economy expanded modestly from October to mid-November and the outlook for growth was generally positive while labor markets remained tight across the country, the Federal Reserve said in a..
Reuters - Published

Donald Trump talks interest rates, the economy with Federal Reserve Chairman Jay Powell

Trump has criticized Powell for not cutting interest rates; Powell says they have been cut and other action is needed.
USATODAY.com - Published

Student debt weighs heavier on black borrowers, Fed says

African-American borrowers are particularly at risk as student debt around the U.S. continues to soar
CBS News - Published

Strong healthcare costs help to lift U.S. producer inflation

U.S. producer prices increased by the most in six months in October, lifted by gains in the costs of goods and services, further bolstering the Federal Reserve's stance that it will probably not cut..
Reuters - Published

U.S. producer prices rise solidly; healthcare costs increasing

U.S. producer prices increased by the most in six months in October, lifted by gains in the costs of goods and services, further bolstering the Federal Reserve's stance that it will probably not cut..
Reuters - Published

Fed chief Jerome Powell: Economic outlook remains "favorable"

Central bank likely to hold off on additional interest rate cuts unless growth cools significantly
CBS News - Published

As Push for Higher Minimum Wages Grows, New York Offers a Test Case

Fed research suggested higher minimum wages did not cost jobs in border counties. Industry-level analysis and real-life stories back that up — with caveats.
NYTimes.com - Published

Fed's election year challenge: Is slowing U.S. job growth a 'material' change?

Having guided interest rates lower this year and declared a stopping point, Federal Reserve officials face a potentially volatile election year problem if U.S. job growth slows in coming months as many..
Reuters - Published

Fed ban on flavored vape products expected soon, menthol and vape stores may be spared

Amid a national lung illness outbreak, federal regulators are expected to announce a ban on electronic cigarette flavors other than tobacco and menthol within days; mint and products sold at vape..
USATODAY.com - Published

The Fed just cut rates again. Here's what you should do next with your 401(k)

If you check your 401(k) statement anytime soon you should feel much better than you did a year ago.
USATODAY.com - Published

Janet Yellen: A matter of interest

Correspondent Rita Braver sits down for an exit interview with Janet Yellen, the outgoing chair of the Federal Reserve, to talk about her trailblazing career, the state of the economic recovery..
CBS News - Published

The Fed’s View on Inflation Is Quietly Shifting. Here’s Why.

For decades, the central bank has raised rates to guard against coming price increases. Now, it seems to be raising that hurdle.
NYTimes.com - Published

AP Top Stories October 30 P

Here are the top stories for Wednesday, Oct. 30th: New wildfire erupts near Reagan library in Southern Calif.; House impeachment inquiry seeks Bolton testimony; Fed cuts key interest rate; UK zoo shows..
USATODAY.com - Published

Trump: Federal Reserve thinks "our economy's too good"

In his interview with "60 Minutes," President Trump expressed frustration with the Federal Reserve and Fed Chairman Jerome Powell, blaming them for the recent stock market dip.
CBS News - Published

Fed cuts interest rates for 3rd time this year in effort to prolong economic growth

The Federal Reserve has lowered its benchmark interest rate for the third time this year, in a bid to shore up U.S. economic growth. The central bank also signaled that this rate cut might be the last..
CBS News - Published

Fed Chairman Jerome Powell says the president can't fire him

Jerome Powell tells "60 Minutes" he fully intends to serve his four-year term.
CBS News - Published

Fed Chairman Powell on the effects of the opioid crisis on the economy

Jerome Powell tells 60 Minutes about the factors that have led the United States to have a lower labor force participation rate than almost every other advanced country
CBS News - Published

The Federal Reserve, 10 years after the Great Recession

After interviewing Fed Chair Jerome Powell, Scott Pelley reflects on his "60 Minutes" interview with former Fed Chair Ben Bernanke in 2009.
CBS News - Published

Pelley to Fed Chair: Are American banks safe today?

In the 2008 Great Recession, taxpayers were forced to bail out reckless Wall Street excess. Scott Pelley asks Fed Chair Jerome Powell: How safe are banks today?
CBS News - Published

Fed chairs on quantitative easing

Although first skeptical of the financial policy enacted by predecessor Ben Bernanke, Fed Chair Jerome Powell now realizes the risks never came to pass.
CBS News - Published

Will the Fed raise interest rates again?

Federal Reserve Chairman Jerome Powell shares his outlook on the U.S. economy and tells 60 Minutes whether or not another interest rate hike is on the horizon
CBS News - Published

2010: Ben Bernanke's take on the economy

The Fed chair talks to Scott Pelley about unemployment, the deficit and pressing economic issues.
CBS News - Published

2009: Ben Bernanke's greatest challenge

Fed chairman discusses recession, financial rescues and recovery in wide-ranging "60 Minutes" interview.
CBS News - Published

Fed Chair Jerome Powell on income disparity

Powell tells "60 Minutes" how the Fed can help combat low mobility and income stagnation.
CBS News - Published

Fed Chair Powell on the "legacy of slavery"

Why is African-American unemployment nearly double that among whites? The chair of the Federal Reserve has a theory.
CBS News - Published

Federal Reserve Chairman Jerome Powell: The "60 Minutes" interview

Jerome Powell tells Scott Pelley if the Fed will raise interest rates again, gives his view on whether or not President Trump can fire him and outlines the current risks to the U.S. economy.
CBS News - Published

Should the United States get rid of cash and create a national cryptocurrency?

"According to the Federal Reserve, Americans still use cash more frequently than any other payment method, but could the rise of cryptocurrencies change that? Duke University finance professor Campbell..
CBS News - Published

Trump attacks Fed chair as stocks slump due to recession fears

U.S. stock markets suffered a big drop Wednesday amid fears of a recession driven by the bond market. CBSN political reporter Caitlin Huey-Burns, Associated Press White House reporter Zeke Miller and..
CBS News - Published

Fed lowers rates again but hints it may be done cutting in the near-term

Federal Reserve lowered its key interest rate by a quarter percentage point for third time this year.
USATODAY.com - Published

Fed poised to cut interest rates a third time this year

America's central bank appears poised for its third rate cut in three months, a nod to the U.S. economy's slowing growth
CBS News - Published

Those Fed cuts are adding up. Here's how lower interest rates affect credit card, mortgage and savings rates

A third Fed rate cut since July would shave borrowing costs on credit cards, home equity lines and other debt. Savers will be pinched.
USATODAY.com - Published

Bank lending slows, heightening recession fears

Big banks reporting weaker lending even as the Federal Reserve has lowered interest rates to stoke economic growth
CBS News - Published

Fed chair: Goal to keep economy in 'good place'

Federal Reserve Chairman Jerome Powell says 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."..
USATODAY.com - Published

ATM withdrawal fees hit a record $4.72, on average, and faster hikes may be coming

ATM fees hit record highs this year and faster hikes may be on the way. That's because the Fed is cutting rates, crimping bank profit margins
USATODAY.com - Published

How savers can deal with falling interest rates

As the Federal Reserve trims interest rates, here are four ways to maximize the return you get on your savings
CBS News - Published

Trump impeachment inquiry not a problem for the Fed: Bullard

St. Louis Federal Reserve Bank President James Bullard said on Wednesday he does not expect the impeachment inquiry into President Donald Trump to affect how the Fed conducts monetary policy.
Reuters - Published

The Chairman, ACLU, Genetic Revolution

Fed Chair Jerome Powell is asked if the Fed is done raising interest rates and whether or not he thinks President Trump can fire him; then, the ACLU's surprising new political strategy, modeled in part..
CBS News - Published

The Fed may have just extended the bull market

What Federal Reserve Chairman Jerome Powell described this week is a fairly ideal environment for stock investors.
USATODAY.com - Published

Fed reduces rates but may not cut again this year

A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year. (Sept. 18)  
USATODAY.com - Published

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