The Fed will comply with a request from the Treasury Department to wind down coronavirus emergency lending programs after the central bank had earlier objected to the move.
The Senate is expected to vote this week on the controversial nomination of Judy Shelton to the Federal Reserve's governing board. She appears to have support from a slim majority of senators.
Powell renews his call for congressional action on the economy, but President Trump tells his representatives to stop negotiating on new relief until after the election.
The Federal Reserve left interest rates near zero Wednesday and pledged it was ready to use all of its available tools to support an economic recovery that appears to be weakening.
In an interview with NPR, Powell says it may take years before the economy has fully recovered. He says practicing social distancing and wearing masks is essential for the economy to rebound.
The Federal Reserve is adjusting its long-range policy on inflation and employment. The central bank said it's now more concerned with prices that are too low than with runaway inflation.
Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta says his organization is committed to reducing racial economic inequities, which he says, is crucial to a stable economy.
The Federal Reserve's roots trace back to Georgia’s Jekyll Island. It all started in November 1910, when six men secretly convened at the Jekyll Island...
