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Federal Reserve

Biden seeks to keep Powell in place, elevate Brainard at Federal Reserve

by Sabri Ben-Achour
Nov 22, 2021
Brainard will be nominated for vice chair. The two officials typically agree on monetary policy but sometimes diverge on regulation.
President Joe Biden names Jerome Powell, left, as his nominee for Federal Reserve chair and Lael Brainard, right, as vice chair.
Jim Watson/AFP via Getty Images
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Yellen says high inflation is temporary. And if it isn't?

by Sabri Ben-Achour
Oct 25, 2021
Treasury Secretary Janet Yellen says inflation should ease by next year, but anxiety about that is still running high.
U.S. Treasury Secretary Janet Yellen addresses a hybrid meeting in October 2021. Yellen has reiterated her belief that current inflation is only temporary.
Chip Somodevilla via Getty Images
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Is Jerome Powell's job as Federal Reserve chair in jeopardy?

by Kai Ryssdal and Sean McHenry
Oct 20, 2021
Critics have intensified calls for a new Federal Reserve chair following Powell's financial disclosures, says Rachel Siegel of The Washington Post.
Some are calling for a new Fed Chair following release of Powell's financial disclosures. Above, Fed Chair Jerome Powell visiting Capitol Hill on Oct. 6.
Kevin Dietsch via Getty Images
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What does the Federal Reserve board of governors do, besides voting on interest rates?

by Nancy Marshall-Genzer
Oct 15, 2021
There are seven members of the board of governors. Usually.
Randal Quarles, a member of the Federal Reserve board of governors, was vice chair for supervision at the central bank until this week. The Fed said that position would go unfilled.
Lintao Zhang via Getty Images
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Will the Fed use regional openings to diversify its leadership?

by Nancy Marshall-Genzer
Oct 7, 2021
A group of directors at each regional bank is in charge of forming a search committee to hire a new president.
Federal Reserve Chairman Jerome Powell has expressed support for diversifying the regional Fed banks.
Kevin Dietsch via Getty Images
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How might a Federal Reserve digital currency work?

by Nancy Marshall-Genzer
Oct 7, 2021
People without access to a regular bank account might be able to have one with the Fed, but that also raises privacy concerns.
The Federal Reserve Building in Washington, D.C.
Chip Somodevilla/Getty Images
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"Trust is our most important tool," says San Francisco Fed chief Mary Daly

by Kai Ryssdal and Sean McHenry
Oct 6, 2021
Mary Daly weighs in on inflation, the debt ceiling impasse and why public trust is essential for monetary policymakers at the central bank.
Mary Daly, president and CEO of the Federal Reserve Bank of San Francisco, with "Marketplace" host Kai Ryssdal. "If we don't have the people's trust, then nothing we do will matter," she said.
Sean McHenry/Marketplace
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What happens if we crash through the debt ceiling?

by Nancy Marshall-Genzer
Oct 4, 2021
The Fed could buy defaulted Treasuries or swap Treasury bonds that weren’t in default for those that were.
Federal Reserve Chair Jerome Powell speaks at a House hearing Thursday. Although the central bank has prepared for potential government defaults before, Powell warned lawmakers of the limits of the Fed's response.
Al Drago-Pool via Getty Images
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Fed's optimism about economy is balanced by delta variant and slow job growth

by Mitchell Hartman
Sep 23, 2021
But the Federal Reserve's biggest worry may be Congress opting not to raise the debt ceiling and the U.S. defaulting.
A closed retail store on a Manhattan street in July 2019. Though economists are tentatively optimistic, threats of supply chain problems, labor shortages, COVID-19 and inflation still remain.
Spencer Platt via Getty Images
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With a road map to higher interest rates, the Fed starts with baby steps

by Kimberly Adams
Sep 23, 2021
The U.S. economy will need to keep improving in order for rates to go up.
The Federal Reserve building is seen on March 2021 in Washington, D.C. The Fed's tapering of bond-buying and upping of interest rates is likely to be a slow, gradual process.
Daniel Slim/AFP via Getty Images
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