Inflation is running “hotter” than Federal Reserve had anticipated. The president of the St. Louis Federal Reserve Bank predicted an interest rate hike in late 2022, which is…
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Senator Seeks Policy Information from Federal Reserve
Letters sent from PA senator concerning race initiatives. Senator Pat Toomey of Pennsylvania, the ranking member of the Senate Banking Committee, sent letters to regional Federal Reserve leaders…
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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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Janet Yellen Confirmed as Treasury Secretary
Brings previous experience from Federal Reserve and Economic Council. On Monday evening, the Senate voted to confirm Janet Yellen as the nation’s first woman to serve as Treasury…
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U.S. Industrial Production Rate Sees Slight Increase
Still below pre-pandemic level. The Federal Reserve reported on Friday that U.S. industrial production increased in the month of December by 1.6%. This is following a 1% increase…
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Senate Confirms Nominee to Federal Reserve Board
The vote in favor of Christopher Waller was 48-47. The Senate confirmed Christopher Waller, executive president of the Federal Reserve Bank of St. Louis, to the Federal Reserve’s…
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Secretary Mnuchin Wants Grants for Main Street
There are CARES Act funds available for Congress to reallocate. The Federal Reserve’s key pandemic lending programs expire on December 31. Treasury Secretary Steven Mnuchin said Congress should…
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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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Economy Showing ‘Signs of Life,’ Fed Official Says
Still in a “tentative” stage, she added. Esther George, the President of the Kansas City Federal Reserve, said the economy is beginning to show “signs of life,” and…
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