The Latest News about The Federal Reserve

By many accounts, activity in the financial markets during these past summer months has been uncharacteristically volatile.  After hitting record highs of 3,028 on July 26th, the S&P 500, an important economic benchmark, has seen a major reversal that has sent valuations lower.  Overall, the S&P 500 has already lost -3.4% since it reached its peak and many American consumers ...

The Federal Reserve cut its benchmark interest rate Wednesday for the first time since 2008, and the president had strong feelings about the central bank’s decision. Federal Reserve Chair Jerome Powell called the action a “midcycle adjustment to policy,” a phrase that caused chaos in the markets as analysts thought he was saying he was acting to stave off recession, ...

As the U.S. economy continues to show signs of strength, many have wondered if it is time for the Fed to cut interest rates. This viewpoint has also been expressed by President Donald Trump in various Twitter messages. In many cases, the economy will move higher when restrictive interest rate policies are reduced, but some experts believe that it is ...

President Donald Trump said that he would not nominate former presidential candidate Herman Cain for a seat on the Federal Reserve Board on Twitter Monday. “My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board,” Trump wrote on Twitter. “I will respect his wishes. Herman is a ...

Several GOP senators expressed concern Tuesday over Trump’s selection of Herman Cain for the Federal Reserve Board, casting doubt that the former GOP presidential candidate will be formally nominated. Two Republican senators raising issues, Kevin Cramer of North Dakota and Tim Scott of South Carolina, are members of the Banking Committee, whose nomination hearing would be a critical step prior ...

Federal Reserve Chairman Jerome Powell, frequently criticized by President Donald Trump for raising interest rates, said he does not believe the president can fire him, during an interview that aired Sunday on CBS’ “60 Minutes.” “The law is clear that I have a four-year term,” Powell said when CBS’ Scott Pelley asked if the president could remove him. “And I ...

President Donald Trump will speak from the Rose Garden as he announces the nomination of Fed Governor Jerome Powell as the next chairman of the Federal Reserve. If confirmed by the Senate, Powell will relieve Fed Chairwoman Janet Yellen when her term expires in February. The 64-year-old Republican was appointed to the board of governors by President Obama in 2012. ...

BOCA RATON, Fla., June 9, 2017 /PRNewswire-USNewswire/ Despite holding interest rates unchanged in their May meeting, the Federal Open Market Committee (FOMC) seems bullish and unfazed with the reports of weakness in the growth in economic activity. The FOMC issued a strong statement signaling it believes the slowdown in growth is transitory and pointed to solid job gains in the ...

Yesterday Ben Bernanke, former chairman of the Federal Reserve, published an asinine editorial in the Wall Street Journal describing how the central bank- and the central bank only- saved the economy through artificially suppressing interest rates. As if this blatantly irrational line of reasoning wasn’t comical enough, Bernanke further went on to browbeat Fed critics as not doing “their bit” ...

The U.S. Federal Reserves’ Open Market Committee (FOMC) has announced the decision to keep interest rates at 0%. The FOMC cited concerns over global economic conditions as the primary reason for not raising rates. The FOMC doesn’t directly affect all interest rates in the American economy. Instead, “the Fed” sets the overnight rate which banks use to charge interest for ...

Federal Reserve Chair Janet Yellen set a cautionary tone on the economy saying that the FOMC will not make a move on interest rates for the next few meetings. Ms. Yellen attributed her dovish stance to weak inflation and a slowly improving jobs situation. “It continues to be the FOMC’s assessment that even after employment and inflation are near levels ...

    When Americans hear the name Andrew Jackson, many believe white-washed historical myths claiming Jackson was nothing more than a racist Indian killer. Never mind warring Indian tribes were massacring friendly tribes long before settlers landed on America’s shores, and forget warring tribes were paid by the French and Spanish to kill friendly tribes and settlers,  it makes Americans appear ...

Arizona senators voted 18-10 on Tuesday to pass a measure that would make gold and silver legal for use as tender for payment. Earlier this month the same legislation cleared the Arizona House which leaves only Governor Jan Brewer’s signature before it becomes law. While U.S. currency will continue to be accepted in the Grand Canyon State, the new bill ...

Initial jobless claims come in than economists had forecast showing a still weak jobs climate. The Labor Department said Thursday that initial jobless claims for the week ending April 13th came in at a seasonally adjusted 352,000 which was slightly higher than expectations of 350,000 and an increase of 4,000 over last week’s numbers. The employment market has not yet rebounded even ...

YouTube Description: Joe Banister is the first and thus far only IRS Criminal Investigation Division Special Agent ever to conduct, while serving as a special agent, an investigation into allegations that the IRS illegally administers and enforces the federal income tax. He respectfully reported the results of his investigation to his IRS superiors, up to and including the IRS Commissioner. ...