Jerome Powell

Last quarter’s expansion was well above the 1.5% annual rate that economists had forecast

The co-creator of the ‘Dollar Smile’ hypothesis — devised in 2001 — believes that his theory is still valid today. He thinks the US currency is just as dominant as it was 20 years ago

The move lifted the Fed’s benchmark short-term rate from roughly 5.1% to 5.3% — its highest level since 2001

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Prices are rising at their slowest pace since 2.6% in March 2021, but the Federal Reserve is still wary

The U.S. central bank is bumping monetary prices closer to the levels of the dot-com bubble

Job strength puts pressure on the Federal Reserve to raise rates this month to the highest levels since 2001

The wage data may raise concerns at the Fed, which is worried that faster pay gains will perpetuate inflation by leading companies to raise prices to offset their higher labor costs

In the end, the 11 voting members of the Fed’s interest-rate setting committee agreed unanimously to skip a hike after 10 straight increases

The suspension of federal student loan payments, which took effect at the height of the pandemic in 2020, expires late this summer

Despite higher interest rates, the economy grew at a 2% annual pace from January through March

Hawks and doves hammer out their differences at major gathering of the European Central Bank in Sintra, Portugal

The head of the Federal Reserve told the House Financial Services Committee on Wednesday that it will be necessary to further raise interest rates by the end of the year

However, officials signaled that they may raise rates twice more this year, beginning as soon as next month

The international agency foresees high interest rates until the end of 2024 due to persistent inflation and a resilient economy

The index showed that prices rose 0.4% from March to April. That was much higher than the 0.1% rise the previous month

Gross domestic product grew at a 1.3% annual rate from January through March, compared to a previous government estimate of 1.1%

Powell noted that turmoil in the banking sector will likely cause banks to reduce the pace of lending: ‘As a result, our policy rate may not need to rise as much as it would have otherwise to achieve our goals,’ he said

Many Fed watchers have expected the central bank’s officials to forgo another increase in their benchmark rate when they next meet in mid-June

Prices rose 0.4% from March to April, the government said Wednesday. The nation’s inflation rate has steadily cooled since peaking at 9.1% last June but remains far above the Federal Reserve’s 2% target rate

“That’s no way to govern,” the Republican leader has said. The White House “does not have a plan B,” he added

The rescue packages for Silicon Valley Bank, Signature Bank and First Republic have been marked by a careful balance between state and private intervention

The unemployment rate ticked down to 3.4%, matching a 54-year low

Shares of PacWest Bank plunged nearly 50% Thursday after the company confirmed reports that it was considering ‘strategic options,’ that may include the possible sale of the company

The Fed’s 10 consecutive rate increases over the past 14 months have more than doubled mortgage rates, elevated the costs of auto loans, credit card borrowing and business loans and heightened the risk of a recession

Officials are meeting on Wednesday to make a decision, shortly after the bailout and sale of First Republic, the third bank to go under in two months