Federal Reserve

WASHINGTON | US industrial output tumbled 0.6 percent in January

WASHINGTON (AP) — U.S. industrial production fell 0.6 percent in January, stemming in large part from an 8.8 percent plunge in the making of motor vehicles and auto parts. The Federal Reserve said Friday that that the manufacturing component of the index dropped 0.9 percent last month, reversing a 0.8 percent gain in December. Over … Continue reading WASHINGTON | US industrial output tumbled 0.6 percent in January

WASHINGTON | US consumer borrowing tops $4 trillion for first time

WASHINGTON (AP) — Consumer borrowing rose at a slower pace in December, but that still pushed total borrowing to a new record above $4 trillion for the first time. The Federal Reserve said Thursday that borrowing increased by $16.6 billion in December after a $22.4 billion advance in November. The December increase nudged the total … Continue reading WASHINGTON | US consumer borrowing tops $4 trillion for first time

Federal Reserve News: Statement on Chair Powell’s, Vice Chair Clarida’s meeting with the President, Treasury Secretary

WASHINGTON (STL.News) At the President’s invitation, Chair Powell and Vice Chair Clarida joined the President and the Treasury Secretary for an informal dinner last night in the White House residence, to discuss recent economic developments and the outlook for growth, employment and inflation. Chair Powell’s comments in this setting were consistent with his remarks at … Continue reading Federal Reserve News: Statement on Chair Powell’s, Vice Chair Clarida’s meeting with the President, Treasury Secretary

Trump and Fed chairman Powell discuss economy over dinner

WASHINGTON (AP) — The Federal Reserve says Chairman Jerome Powell had dinner at the White House with President Donald Trump on Monday, but the two men did not discuss the future course of interest rates. The Fed says Trump and Powell were joined by Treasury Secretary Steven Mnuchin and Federal Reserve Vice Chairman Richard Clarida. … Continue reading Trump and Fed chairman Powell discuss economy over dinner

Federal Reserve News: Statement Regarding Monetary Policy Implementation and Balance Sheet Normalization

WASHINGTON – Jan. 30, 2019 – After extensive deliberations and thorough review of experience to date, the Committee judges that it is appropriate at this time to provide additional information regarding its plans to implement monetary policy over the longer run.  Additionally, the Committee is revising its earlier guidance regarding the conditions under which it … Continue reading Federal Reserve News: Statement Regarding Monetary Policy Implementation and Balance Sheet Normalization

WASHINGTON | Fed survey finds businesses worried by political uncertainty

WASHINGTON—January 16, 2019— The Federal Reserve said Wednesday business contacts in many regions of the country are expressing less optimism amid a host of adverse developments, from plunging stock prices to uncertainty about a widening trade war. In its latest report on economic conditions around the country, the Fed said that eight of its 12 … Continue reading WASHINGTON | Fed survey finds businesses worried by political uncertainty

Federal Reserve News: Regulators encourage institutions to work with borrowers affected by government shutdown

WASHINGTON – Jan. 12, 2019 – Five federal financial institution regulators and state regulators encourage financial institutions to work with consumers affected by the federal government shutdown. While the effects of the federal government shutdown on individuals should be temporary, affected borrowers may face a temporary hardship in making payments on debts such as mortgages, … Continue reading Federal Reserve News: Regulators encourage institutions to work with borrowers affected by government shutdown