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Powell: Congress, Fed need to 'stay with' aid

Video Credit: Reuters Studio - Duration: 00:59s - Published
Powell: Congress, Fed need to 'stay with' aid

Powell: Congress, Fed need to 'stay with' aid

In his second trip to Capitol Hill this week, Federal Reserve Chairman Jerome Powell told lawmakers that assistance from the Fed and Congress are needed to bolster the economic recovery.


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Jerome Powell Jerome Powell American central banker, and 16th Chairman of the Federal Reserve in the United States

Pelosi knocks down talk of 'skinny' stimulus bills [Video]

Pelosi knocks down talk of 'skinny' stimulus bills

[NFA] U.S. House of Representatives Speaker Nancy Pelosi on Thursday said legislation to help airline companies survive the fallout could only move through Congress with guarantees that lawmakers will work on a more comprehensive aid bill to help the unemployed, small businesses and revenue-depleted state and local governments. Conway G. Gittens reports.

Credit: Reuters - Politics    Duration: 02:30Published
Trump pulls plug on COVID-19 relief talks [Video]

Trump pulls plug on COVID-19 relief talks

In a shocking move one day after leaving the hospital from a COVID-19 infection, President Trump ordered Republicans to walk away from economic stimulus talks. Conway G. Gittens has the details.

Credit: Reuters - Politics    Duration: 02:16Published
Dow Drops 320 Points [Video]

Dow Drops 320 Points

On Thursday, US stocks fell 320 points. The drop comes even as weekly jobless-claims data came in better than expected. Business Insider reports that weekly jobless claims fell by more than 30,000 from the previous week, to 860,000. Tech stocks led the decline. Investors continued to process Federal Reserve Chairman Jerome Powell's comments expressing uncertainty about the economic recovery. Powell also said the Fed didn't expect to raise interest rates until at least 2023.

Credit: Wochit News    Duration: 00:43Published
S&P 500 Closes At Record High [Video]

S&P 500 Closes At Record High

On Thursday, the S&P 500 extended its record highs. Federal Reserve Chair Jerome Powell spoke at this year's virtual Jackson Hole symposium. Business Insider reports that Powell outlined the central bank's overhauled strategy for controlling inflation and avoiding future crises. He also signaled that the Fed's monetary policy will remain accommodative as it seeks to stimulate the US economy. Jobless claims came in at 1 million for the week that ended on Saturday, in line with consensus estimates. Abbott Laboratories produced a COVID-19 test that received emergency use authorization from the Food and Drug Administration. Oil prices traded lower. West Texas Intermediate crude fell as much as 2.4%, to $42.36 per barrel.

Credit: Wochit News    Duration: 00:37Published

United States Congress United States Congress Legislature of the United States

White House, Congress nearing deadline for stimulus relief deal

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'World’s biggest party has no CM face': Tejashwi Yadav mocks BJP; dares Nitish [Video]

'World’s biggest party has no CM face': Tejashwi Yadav mocks BJP; dares Nitish

Mahagathbandhan's CM candidate Tejashwi Yadav lashed out at BJP and Bihar CM Nitish Kumar. Tejashwi mocked BJP saying that the world's largest party does not have a CM face. The RJD leader said if he's inexperienced then why are they using full force against him. "BJP is the largest party in the world but they don't have a CM candidate," he said. Tejashwi added, "I have been an MLA, Leader of Opposition and also held deputy CM's post. My five years of experience is equivalent to 50 years of experience." Earlier, Tejashwi challenged Bihar CM to debate on any of his achievements in last five years. The RJD-led Mahagathbandhan in Bihar comprises Congress and Left parties. BJP-JDU alliance has agreed upon sharing 121-122 seats in the assembly polls. Bihar elections will be conducted in three phases starting October 28. Results of the state assembly polls will be declared on November 10.

Credit: HT Digital Content    Duration: 03:58Published

Americans face financial hardship as Congress debates COVID-19 aid

Frustration is growing as Congress tries to agree on money for coronavirus testing, unemployment benefits and schools. Janet Shamlian reports.
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MP bypolls: BJP candidate alleges Congress contender mentioned name of 'mistress' in election form [Video]

MP bypolls: BJP candidate alleges Congress contender mentioned name of 'mistress' in election form

Bharatiya Janata Party (BJP) candidate from Anuppur, Bisahu Lal Sahu, alleged that Congress candidate, Vishwanath Singh has mentioned his "mistress" and not his wife in the election form. While, Congress candidate Vishwanath Singh declined the allegation and said, "He (Bisahu Lal Sahu, BJP candidate from Anuppur) is speaking irrelevant things as he is losing election. I married my wife 15 years ago and we have two children. I'll file defamation case against him." Both are contesting in the upcoming Anuppur Assembly bypolls.

Credit: ANI    Duration: 01:02Published

Federal Reserve Federal Reserve Central banking system of the United States

Atlanta Fed CEO Raphael Bostic says virus has "put a wedge in our economy"

Raphael Bostic, the president and CEO of Federal Reserve Bank of Atlanta, says "we have to change the trajectory for the generations to come."
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Are The Feds Goals Realistics? [Video]

Are The Feds Goals Realistics?

The Federal Reserve is targeting above 2% inflation. Scott Minerd, Guggenheim global CIO told Bloomberg on Wednesday it is "virtually impossible" for the Fed to achieve that without creating a bubble in asset prices. "The reality is that the inefficiencies that are building up in the system." Minerd said misinformation and mistaken investments will pose a challenge to investors.

Credit: Wochit News    Duration: 00:31Published
Equity indices nudge lower on weak global cues, banking stocks dip [Video]

Equity indices nudge lower on weak global cues, banking stocks dip

Equity benchmark indices traded lower during early hours on Thursday on the back of weak global cues after the US Federal Reserve indicated the interest rate could stay close to zero for years. At 10:15 am, the BSE S-P Sensex was down by 141 points or 0.36 per cent at 39,162 while the Nifty 50 lost by 39 points or 0.34 per cent at 11,565. Except for Nifty IT and pharma, all sectoral indices at the National Stock Exchange were in the negative terrain with Nifty private bank losing by 1 per cent and financial service by 0.9 per cent. Among stocks, ICICI Bank dropped by 1.3 per cent to Rs 369.85 per share while HDFC Bank lowered by 1 per cent. The other major losers were Hindalco, Tata Consultancy Services, Bajaj Auto and Tata Motors.However, HCL Technologies moved up by 2 per cent to Rs 811.20 per share and Tech Mahindra by 1.7 per cent. Dr Reddy's, Hero MotoCorp, Grasim and Asian Paints also traded with a positive bias.

Credit: ANI    Duration: 01:09Published

Capitol Hill Capitol Hill United States historic place

Trump’s Nominee Gets a Hearing and the Town Hall Divide: This Week in the 2020 Race

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GOP 'full steam ahead' on Barrett after Trump test [Video]

GOP 'full steam ahead' on Barrett after Trump test

Republicans Friday said they would push forward with Senate Judiciary Committee hearings on Trump's Supreme Court replacement, even after Trump tested positive for COVID-19 and went into isolation. Gavino Garay has more.

Credit: Reuters - Politics    Duration: 01:31Published

Chair of the Federal Reserve Chair of the Federal Reserve American government office

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Ex-Fed Chair Janet Yellen To Congress: The Fed's Done Its Bit, So Cough It Up

Former chair of the US Federal Reserve Janet Yellen is on the same page as current Fed chair Jay Powell. Markets Insider reports Yellen echoes Powell, in that the Fed has 'already done a huge amount,'..

Credit: Wochit Business     Duration: 00:38Published
Stimulus, Shtimulus: Kudlow Poo-Poos Fed Chair's Plea For Stimulus Package [Video]

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Fed Chair Jay Powell warned on Tuesday that the US economy would suffer if another stimulus package isn't passed, which remains stalled in Congress. House Democrats passed a $2.2 trillion stimulus plan..

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Florida hotels call for additional aid from Congress [Video]

Florida hotels call for additional aid from Congress

Florida's hotels say another round of massive layoffs is ahead. That's if Congress fails to approve a new relief bill.

Credit: WPTV News | West Palm Beach     Duration: 02:28Published