Federal Reserve

Fed leaves low rates alone and foresees no moves in 2020

WASHINGTON (AP) – The Fed’s decision to leave rates alone follows three rate cuts earlier this year. It reflects its view that the U.S. economy has so far withstood the U.S.-China trade war and a global slump and remains generally healthy. Its benchmark rate influences many consumer and business loans. It will remain in a low range of 1.5% to…

Federal Reserve Cuts Key Interest Rate by Quarter-Point

The Federal Reserve is cutting its key interest rate for the first time in a decade to try to counter threats ranging from uncertainties caused by President Donald Trump’s trade wars to chronically low inflation and a dim global outlook. The central bank cut its benchmark rate – which affects many loans for households and businesses – by a quarter-point…

Trumps Nominates Jerome Powell for Fed Chair

President Donald Trump’s choice to lead the Federal Reserve says he will work to make sure the Fed stays “vigilant and prepared to respond to changes” in the market. Jerome Powell was introduced by Trump in the Rose Garden. The nominee says the U.S. economy has made “substantial progress” since the 2008 financial crisis and the financial system is much…