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.
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)
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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.
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.
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.
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..
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.
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..
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..
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..
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..
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..
The Federal Reserve signaled it won't raise interest rates for the time being, a potential boon for first-time homebuyers in 2020.
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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.
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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.
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Former Federal Reserve Chairman Paul Volcker, who headed the central bank from 1979 to 1987, has died at age 92.
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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
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
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
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 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 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
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
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
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
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
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
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
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
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
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
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
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
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
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
"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
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
A third Fed rate cut since July would shave borrowing costs on credit cards, home equity lines and other debt. Savers will be pinched.
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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 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
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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
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
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)
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