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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Federal Reserve Now Offering Lending to Nonprofit Organizations
Fed Hopes to help stabilize hospitals and social services during pandemic. The Main Street Lending Program, launched by the Federal Reserve on July 6 to lend money to…
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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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Economy Has Likely Bottomed, Fed Member Says
Economy will be “headed up,” Thomas Barkin sugests. The president of the Federal Reserve Bank of Richmond, Thomas Barkin, believes America’s economy is probably at its lowest point…
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