Fed and Treasury chart path back to "full employment"

Feb 24, 2021
Fed Chair Jerome Powell and Treasury Secretary Janet Yellen peg the actual unemployment rate at around 10%, higher than the official 6.3%.
Federal Reserve Chair Powell testified on Capitol Hill about the U.S. labor market.
Mark Wilson/Getty Images

How low interest rates may shape the start of a Biden presidency

Nov 24, 2020
The only thing really left is for Congress and a president to pass more stimulus.
President-elect Joe Biden announces key cabinet nominees at a press conference on Nov. 24 in Wilmington, Delaware.
Mark Makela/Getty Images

Fed Chair Powell says full economic recovery depends on managing COVID-19

Social distancing and wearing masks will help get the economy back to full strength, Powell said Thursday.
Drew Angerer/Pool/AFP via Getty Images

The Fed meets again this week. It's likely to keep interest rates low for a while.

Nov 2, 2020
What do ongoing low interest rates mean for consumer saving and spending, and businesses seeking help with debt?
With bank accounts paying next to nothing in interest, some people are starting to spend their money.
Daniel Slim/AFP via Getty Images

Who actually gets those low, low mortgage rates?

Oct 20, 2020
Different lenders may offer the same individual wildly different rates and fees.
A construction worker walks through the site of a new house being built in San Marino, California. Housing starts in September were up 11% from last year.
Frederic J. Brown/AFP via Getty Images

What's behind the stock market's strong third quarter?

The S&P 500 gained 8.5%, the Dow is up 7.5% and the Nasdaq is up 11% for the quarter.
Angela Weiss/AFP via Getty Images

Fed plans to keep interest rates near zero through 2023. What else can it do for the economy?

Fed Chair Jerome Powell said another relief package from Congress will likely be needed.
The Fed can't make grants. That's Congress' job. "These are lending powers, not spending powers," Fed Chair Jerome Powell said Wednesday.
Brendan Smialowski/AFP via Getty Images

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How low interest rates could make inequality worse

Low interest rates hurt our ability to save.
Karen Petrou, managing partner at Federal Financial Analytics, says there's "nothing" in the Federal Reserve's new policy for "shared prosperity."
Daniel Slim/AFP via Getty Images

Fed: Rates to stay ultra-low even after inflation picks up

Aug 27, 2020
The change will allow the central bank to keep interest rates low even if inflation tops its 2% target.
Federal Reserve Chair Jerome Powell is announcing a major change in policy Thursday that will allow the central bank to keep interest rates low even if inflation tops its 2% target.
Tasos Katopodis/Pool/AFP via Getty Images

Is the dollar no longer king in the international economy?

Aug 10, 2020
Pick a currency, any currency. Chances are, it gained against the U.S. dollar last month.
It won't be easy to knock off the U.S. dollar. When governments save their money, they overwhelmingly save in dollars.
Mark Wilson/Getty Images