Amid bleak economic projections, Fed votes to keep interest rates near zero

The Federal Reserve estimated unemployment will be at 9.3% by the end of 2020.
The Federal Reserve Wednesday issued projections showing interest rates near zero through 2022.
Mandel Ngan/AFP via Getty Images

Fed slashes rates to near zero, eases bank lending rules

Mar 15, 2020
The central bank said the effects of the outbreak will weigh on economic activity in the near term and pose risks to the economic outlook.
Federal Reserve Board Chairman Jerome Powell
Mark Wilson/Getty Images

Bank of England, U.K. government take policy action over COVID-19

Mar 11, 2020
On Wednesday, just hours before the U.K. government will outline new spending plans, the Bank of England announced the cuts.
Mark Carney (left), governor of the Bank of England, and Andrew Bailey, governor-designate of the Bank of England, arrive to attend a news conference on March 11, 2020.
Peter Summers - WPA Pool/Getty Images

What if the economy needs more than the Fed can give it?

Mar 3, 2020
The U.S. government may need to spend its way out of a coronavirus-induced slowdown.
Federal Reserve Chair Jerome Powell announced an interest rate cut of half a percentage point Tuesday.
Scott Olson/Getty Images

In emergency move, Fed cuts interest rates by 0.5%

Mar 3, 2020
"A half a point is not going to cure anybody," said Karen Petrou, managing partner of Federal Financial Analytics.
An interest rate cut that occurs between formal policy meetings is highly unusual.
Sarah Silbiger/Getty Images

The Fed may have been wrong about the economy for years

Dec 11, 2019
2019 saw a major shift in monetary policy. Does that mean the Fed has been wrong about the economy for years?
Fed Chair Jerome Powell speaks following the final FOMC meeting of 2019.
Alex Wong/Getty

Paul Volcker's battle against inflation pushed interest rates up to 20%

Dec 9, 2019
Getting a loan in the early 1980s was a lot more expensive than today. That was the point.
Former Federal Reserve Chairman Paul Volcker testifies before the Joint Economic Committee May 14, 2008 on Capitol Hill in Washington, DC.
Win McNamee/Getty Images

You’ve got questions. We help you answer them.

Support nonprofit, independent journalism that makes you smarter.

Fed meets ahead of interest rate decision

Oct 30, 2019
Economists think another interest rate cut is on the way.
A view of the U.S. Federal Reserve building. 

Fewer companies say Fed rate cuts will improve their business

Oct 28, 2019
A survey from the National Association for Business Economics found members are bracing for the economy to slow.
More companies are feeling interest rate changes won't affect them.
Carl de Souza/AFP via Getty Images

When interest rates drop, savers feel the pinch first

Sep 19, 2019
Savers can be the first to lose when the Fed lowers the interest rate.
The potential to earn in a savings account has gone down with interest rate cuts. Above, a Chase Bank in New York.
Spencer Platt/Getty Images