Federal Reserve Chair Jerome Powell tried to reassure skeptical lawmakers over two days of congressional hearings this week was straightforward: Just give it more time and recent price gains should slow, or even reverse.
In mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned.
Federal Reserve Chairman Jerome Powell normally spends his days in the marble halls of Washington, meeting with senators and Fed economists. On Monday, he learned about the job market from an 18-year-old named Jasmine.
Federal Reserve Chairman Jerome Powell said Tuesday that U.S. job growth since early last year was not as robust as thought, a hint that the Fed may be ready to keep cutting interest rates to support the economy.
The Federal Reserve seems poised to pivot from keeping interest rates steady to holding out the option of cutting rates if it were to decide that the economic expansion needs support.
Federal Reserve Chairman Jerome Powell said Monday that the central bank is closely monitoring a sharp rise in corporate debt but currently does not see the types of threats that triggered the 2008 financial crisis.
U.S. stocks added to their gains slightly on Friday after Federal Reserve Chair Jerome Powell said further interest rate hikes were the best way to protect the U.S. economic recovery.
