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.
President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell spoke about the trade war with China and economic risks to the United States, asking whether his appointee.. Reuters - Published
Wall Street tumbled Friday after the U.S.-China trade war escalated sharply, with President Donald Trump demanding that U.S. companies seek alternatives to doing business with China after Beijing..
Kramer Capital Research's Hilary Kramer tells Reuters' Fred Katayama Fed Chair Jerome Powell's speech at the Jackson Hole symposium Friday isn't likely to trigger a big runup in stocks.
European shares traded close to flat on Thursday as upbeat surveys on Germany and the euro zone offset signs that U.S. policymakers had not intended to start a cycle of interest rate cuts with last..
Federal Reserve Chairman Jerome Powell delivers a closely-watched speech this week amid mounting pressure to signal more rate cuts are in the works to avoid a recession. Conway G. Gittens reports.
Car industry shares drove a rebound in European stock markets on Wednesday, helped by an Italian newspaper report suggesting merger talks between Fiat Chrysler and Renault have gained some traction in..
Investors will be glued to the Jackson Hole central bankers gathering and earnings reports from more retailers in the week ahead on Wall Street. Fred Katayama reports.
U.S. stocks rebounded Friday as an ebbing bond rally brought buyers back to equities, but major indexes still ended the week with losses. Fred Katayama reports.
President Donald Trump routinely blames the Federal Reserve for putting the U.S. economy at risk. However, Fed Chair Jerome Powell insists the data shows an economy is in “reasonably good” shape...
U.S. stocks clawed back Wednesday after plummeting early - as investors rushed to the safe haven of the bond market amid fears the U.S.-China trade war would aggravate an already slowing global..
On Wall Street, the Dow Jones Industrial Average opened more than 500 points lower as President Trump continued to slam China on trade. Havovi Cooper reports.
Wall Street extended its sell-off Friday amid renewed trade fears, capping a week where the S&P 500 index and the Nasdaq saw their worst weekly percentage plunges since December. Fred Katayama reports.
European shares tracked lower after the U.S. Fed dampened hopes of future rate cuts. But as David Pollard reports, the day was dominated by a torrent of earnings reports from some of continent's..
SYDNEY (Reuters) - Asian shares fell to six-week lows on Thursday and the dollar rose after the U.S. Federal Reserve delivered a 25-basis-point rate cut as expected but poured cold water on market..
SYDNEY (Reuters) - Asian shares were set to open significantly lower on Thursday as the U.S. Federal Reserve poured cold water on market expectations of a lengthy easing cycle after delivering a..
The Federal Reserve delivered a quarter-percentage point rate cut, the central bank's first rate ease since the financial crisis more than 10 years ago but Fed Chief Jerome Powell declined whether to..
The US Federal Reserve is expected to lower borrowing costs this week for the first time since the depths of the Great Recession. It could inaugurate a series of quarter-percentage-point interest rate..
The Federal Reserve has sent clear signals it intends to cut interest rates Wednesday, but questions linger regarding how deep the cut will be and if the Fed will signal a readiness to lower rates in..
Investors will focus on a Fed rate decision, the jobs report, and the latest results from Apple. Fred Katayama takes a look at the week ahead in the U.S. business world.
The U.S. economy surprised to the upside in the second quarter, growing at an annualized 2.1 percent rate thanks to the strongest measure of consumer spending in 2-1/2 years. The data lower the chance..
President Donald Trump attacked the Federal Reserve once again, criticizing its policy decisions. Trump said the U.S. is “needlessly being forced to pay a MUCH higher interest rate than other..
President Donald Trump ramped up his criticism of Fed Board Chairman Jay Powell , describing his longtime target on economic issues as an "enemy."
USATODAY.com - Published
Donald Trump is lashing out at Federal Reserve chair Jerome Powell as the bond market drives fears of an oncoming recession. CBS News White House correspondent Paula Reid, Washington Post economics.. CBS News - Published
The president has accused his own Federal Reserve chair, other nations and the news media of working against him to derail the economy. NYTimes.com - Published
Real estate expert Rogers Healy explains how the housing market is reacting to the Federal Reserve's decision to lower interest rates for the first time in a decade. CBS News - Published
The average U.S. household has a credit card debt of about $5,700, according to an analysis of census and Federal Reserve data. Overall, consumer debt has been rising significantly since the recession.. CBS News - Published
Mortgage rates dropped to nearly three-year lows on China trade fears and a Fed rate cut. That's helping homeowners and buyers in the market now.
USATODAY.com - Published
U.S. farm incomes in the Midwest and Mid-Southern states declined yet again in the second quarter of 2019, as record floods devastated a wide swath of the Farm Belt, according to banker surveys.. Reuters - Published
The Federal Reserve lowered interest rates by a quarter point for the first time in more than a decade. The aim is to bolster the U.S. economy amid early signs of a global slowdown. CBS News business.. CBS News - Published
The cost of borrowing is coming down. For the first time since the 2008 financial crisis, the Federal Reserve cut interest rates. The central bank lowered the benchmark federal funds rate by a quarter.. CBS News - Published
The cost of borrowing is going down, but so is the return on savings, after the Federal Reserve cut a key interest rate. CBS News business analyst Jill Schlesinger joins "CBS Evening News" to explain.. CBS News - Published
Trump said Fed chief Powell 'let us down' by not signaling long cycle of rate cuts. The Fed sliced its key interest rate by a quarter-percentage point
USATODAY.com - Published
The Fed cut rates by a quarter point despite a solid economy, its first decrease since 2008. Slowing global growth and US-China trade war pose risks.
USATODAY.com - Published
A Federal Reserve rate cut lowers rates on credit cards, home equity lines and adjustable rate mortgages. It also decreases bank savings rates.
USATODAY.com - Published
The Fed is expected to cut its key interest rate by a quarter percentage point Wednesday. Fed cuts when there's no recession typically lift stocks
USATODAY.com - Published
The U.S. economy is already on powerful medication, from the $1.5 trillion tax cut as well as from federal borrowing and spending: Our view
USATODAY.com - Published
Federal Reserve should not wait for more evidence of a slowdown; the market is telling us it's coming, writes Joseph Lavorgna of Natixis CIB Americas
USATODAY.com - Published
President Trump tweeted that the Fed's expected quarter point rate cut "will do very little" compared to more aggressive steps by Europe and China.
USATODAY.com - Published
About 20% of households have less than $400 in their checking and savings account, based on a Federal Reserve study. Others fear paying another bill.
USATODAY.com - Published
Chairman Jerome Powell signaled Wednesday that the Federal Reserve is likely to cut interest rates late this month for the first time in a decade in light of a weakening global economy and rising trade.. USATODAY.com - Published
In an NBC interview, Mr. Trump lashed out at his Federal Reserve chairman and said the biggest mistake of his presidency was selecting Jeff Sessions to be attorney general. NYTimes.com - Published
Pressuring the Fed to juice the economy as he seeks re-election, the president is toying with an unprecedented challenge to its independence. NYTimes.com - Published
The Fed kept its key interest rate at 2.25% to 2.5% but signaled it was prepared to cut rates if the US trade war with China deepens
USATODAY.com - Published
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
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