Latest attempt to fight inflation. The Federal Reserve is poised this week to accelerate its most extreme steps in three decades to attack inflation by making it costlier…
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National Debt Exceeds $30 Trillion
Treasury Department announces sobering milestone. America’s total national public debt outstanding is now above $30 trillion, according to Treasury Department data. Government borrowing accelerated during the COVID-19 pandemic as…
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Treasury Secretary Supports Federal Reserve Nominees
Expresses confidence in their ability to keep the agency independent. President Joe Biden previously nominated Jerome Powell and Lael Brainard to serve on the Federal Reserve Board, and…
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Higher Inflation Creating Pressure on Consumers
President seeks help from the private sector. The Department of Labor reported this week that consumer prices increased solidly in September. Americans are now paying more for food,…
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Treasury Secretary Hints at Interest Increases
Expects the Federal Reserve to maintain economic stability. On Tuesday, Secretary of the Treasury Janet Yellen indicated that national interest rates might have to increase due to the…
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Federal Reserve Releases Statement on Interest Rates
Decision by FOMC to keep rates low during economic recovery On Wednesday, the Federal Reserve issued a statement from the Federal Open Market Committee (FOMC) regarding interest rates.…
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Fed Chairman Gives Congress Economic Forecast
Describes the current state of affairs as “much improved.” On Tuesday, Federal Reserve Chairman Jerome Powell sat before Congress to give an up-to-date forecast of the nation’s economy.…
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Congress Calls for Racial Equity in Lending
Letter to Federal Reserve and Treasury Department calls for racial considerations in emergency lending. Late last week, Representative Ayanna Pressley and Congressional Oversight Commissioner Bharat Ramamurti called on…
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Federal Reserve Announces Policy Changes
Prepared to accommodate a higher level of inflation. Federal Reserve Chairman Jerome Powell announced last week that inflation rates will now be allowed to exceed its previously held…
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Federal Reserve Aims to Keep Interest Rates Low Into 2022
The semi-annual policy report predicts slow recovery. The Federal Reserve released its semi-annual report to Congress this past Friday. Chairman Jerome Powell is scheduled to present the report…
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