Federal Reserve News

Risks of Business Failures ‘Remain Considerable,’ Says Fed

The risks of ongoing business failures in the United States “remain considerable” even as the economy emerges from the coronavirus pandemic, the Federal Reserve said on Friday in its semi-annual monetary policy report to Congress. Business borrowing “now stands near …

Getting Digital Currency Right More Important Than U.S. Being First, Says Fed’s Powell

In any development of a cross-border digital currency, it is more important for the United States “to get it right than be first,” U.S. Federal Reserve Chair Jerome Powell said on Monday. “We do think it’s more important to get …

Fed Leader Says ‘Pernicious’ Effects of Redlining Against Blacks Still Persist

The “pernicious and persistent” impact of long-outlawed policies like “redlining” Blacks out of white neighborhoods continues to influence the ability of minority families to amass wealth, and requires a deeper look at how those longstanding problems might be addressed, Atlanta …

Federal Reserve Policymakers See Slow Economic Growth Until Virus Contained

The U.S. economic recovery will be slow until the coronavirus is under control, and Americans will have to manage life with the virus for at least the next several months, three Federal Reserve policymakers said on Wednesday. After rebounding strongly …

Fed Leaders Say Economy Needs More Federal Help and More People Wearing Masks

The U.S. economy, battered by a resurgence in the spread of COVID-19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, U.S. central bankers said on Monday. The calls …

Concern Over Small Businesses Grows as Coronavirus Resurges, Federal Aid Expires

The number of outright failures of U.S. small businesses in the first months of the coronavirus pandemic was comparatively modest, but the months ahead look far grimmer as cash balances dwindle, federal help expires, and the disease surges back. That …

Federal Reserve Finds Businesses Not So Optimistic About Economy

Businesses across the country surveyed by the Federal Reserve don’t appear to share the Trump administration’s optimism about a rapid economic recovery starting this summer. The Federal Reserve released a report Wednesday that draws on business contacts from the central …

How Data-Dependent Federal Reserve Is Growing to Like Private Company Big Data

About a year ago, Federal Reserve officials were nervous. Markets were cratering. Fear about a trade war was rising. The officials needed to know if the turmoil was chilling consumer spending. Problem was, a partial shutdown of the government had …

Federal Reserve Again Warns About Increase in High-Risk Company Debt

The Federal Reserve escalated its warnings about the perils ofleveraged loan Monday, saying firms with the worst credit profiles are the ones taking on more and more debt. The Fed also left a question unanswered: Is it going to do …

Fed Chair Says Wells Fargo Must Address Risk Management Before Any Growth

Wells Fargo & Co. must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve. In February, the Fed …