Tag: federal-reserve

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COVID-19 Crisis Fans Inflation of Food Prices, Rent, and Fuel
Consumer prices rose 8.6 percent last year induced by skyrocketing energy tariffs that are further hampering supply chains caused by understaffing due to stiff COVID-19 regulations and soaring sick leaves. The US Bureau of Labor...
A sign is posted outside of a Wells Fargo bank.
Elizabeth Warren Encourages The Fed to ‘Break Up Scandal-Hit Wells Fargo’
Democrat Senator Elizabeth Warren has written a letter to the Federal Reserve urging it to break up Wells Fargo. Wells Fargo is the third-largest bank in America in terms of assets. Warren sits on the...
Financial institutions like Bank of America and Goldman Sachs have scaled back their growth estimates for America’s economy.
Delta Fears: Financial Institutions Cut US Growth Estimates, Americans Remain Pessimistic
Several financial institutions have scaled back their U.S. growth expectations for the third quarter. The reduced forecasts come amidst sluggish consumer spending and the country remains under the threat of measures related to the COVID-19...
A view of fruit and vegetables at an area grocery store August 12, 2021, in Washington, DC. The US inflation report showed consumer prices rising significantly for energy and food in July.
Inflation Peaks as Producer Prices Rise 7.8% Annually in July
Supply chain disruptions and waning supplies of materials are increasing costs, causing producer prices to soar to a record annual rate in July. According to the Labor Department, the producer price index for final demand...
The U.S. Federal Reserve declared on March 17 that it will keep interest rates at 0.25 percent since the CCP virus pandemic continues to pose a major risk to the American economy
The Fed Keeps Interest Rates Near Zero, Strong Economic Growth Ahead
The U.S. Federal Reserve declared on March 17 that it would keep interest rates at 0.25 percent since the coronavirus pandemic continues to pose a major risk to the American economy. Following a two-day meeting...
Federal Reserve Chair Jerome Powell declined to take a stance on President Biden’s proposed $1.9 trillion coronavirus relief bill while testifying in front of the Senate Banking Committee.
Fed Chair Powell Avoids a Stance on Biden’s $1.9 Trillion Pandemic Aid
Federal Reserve Chair Jerome Powell declined to take a stance on President Biden’s proposed $1.9 trillion coronavirus relief bill while testifying in front of the Senate Banking Committee. When Republican Senator John Kennedy asked whether...
The Federal Reserve Payment system that is used in settling transactions between financial institutions in the country suffered a major disruption on Wednesday, Feb, 24.
Federal Reserve Payment System Crashes
The Federal Reserve Payment system used in settling transactions between financial institutions in the country suffered major disruption on Wednesday, Feb 24. The system, which executes $3 trillion worth of transactions each day, went offline...
Janet Yellen, the U.S. Treasury Secretary, is planning to appoint a climate czar at the department who will be responsible for determining the effects of climate change on financial markets and promoting the necessary tax incentives to boost the use of renewable energy.
US Treasury to Appoint ‘Climate Czar’ to Advance Environmental Program
Janet Yellen, the U.S. Treasury Secretary, is planning to appoint a climate czar at the department who will be responsible for determining the effects of climate change on financial markets and promoting the necessary tax...
The Federal Open Market Committee’s (FOMC) response to the current economic outlook is to hold interest rates steady between 0 and .25 percent.
Federal Reserve Holds Rates Steady Over Pandemic Outlook
As part of the Federal reserve, the Federal Open Market Committee’s (FOMC) response to the current economic outlook holds interest rates steady between 0 and .25 percent. The federal borrowing rates trickle down to the...
The U.S. Senate has confirmed the appointment of Lloyd Austin to the post of Secretary of Defense in the Biden administration. Austin was approved with a vote of 93-2 and will be the first African-American to become Pentagon chief.
Senate Confirms Lloyd Austin for Biden Administration, Janet Yellen as Treasury Secretary
The U.S. Senate has confirmed the appointment of Lloyd Austin to the post of Secretary of Defense in the Biden administration. Austin was approved with a vote of 93-2 and will be the first African-American...