What happens if we crash through the debt ceiling?

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

Does the Federal Reserve have the power to fight climate change?

Sep 17, 2021
The central bank can "be an assist" on climate risk, says economist Claudia Sahm, but Congress sets the priorities.
Federal Reserve Chair Jerome Powell. The Fed can do research and integrate climate risk into bank stress tests, economist Claudia Sahm says. But mainly it "follows orders; Congress tells it what to do."
Drew Angerer via Getty Images

Debate over Fed's role in shaping unequal economy expected at Jackson Hole

Aug 24, 2021
Wrapped up in this year's theme — "Macroeconomic Policy in an Uneven Economy" — is years of debate and controversy over who the economy serves.
People walk outside of the New York Stock Exchange in August 2016. At the Fed's Jackson Hole summit, economists expect discussions about the Fed's role in minimizing inequality.
Spencer Platt via Getty Images

Fed sees faster time frame for rate hikes as inflation rises

Jun 16, 2021
The central bank raised its inflation forecast to 3.4% by year-end and expects to hike its benchmark interest rate twice by late 2023.
Alex Wong/Getty Image

Fed Chair: Rise in inflation not "particularly large" from $1.9 trillion rescue package

Mar 23, 2021
Powell told lawmakers Tuesday that the “effect on inflation will be neither particularly large nor persistent,” from the $1.9 trillion rescue plan.
Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen testified before the House Financial Services Committee Tuesday.
Screengrab via Youtube

Are we in a housing bubble?

Jan 29, 2021
Prices are soaring, but economists expect market conditions to change.
Is the price surge a blip? Many economists say the market conditions behind it are temporary.
David McNew/Getty Images

What's next for Main Street, Wall Street as Fed lending programs are set to expire

Nov 20, 2020
Fed programs and policy have helped ease economic pain during the pandemic. In its dwindling days, the Trump administration will end some of those emergency programs Dec. 31.
Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin greet each other after testifying before Congress in June.
Tasos Katopodis/Getty Images

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Top central bankers: Economy needs help despite vaccine news

Nov 13, 2020
U.S. Federal Reserve Chair Jerome Powell said Congress “may need to do more” to cushion the blow from the pandemic.
Chairman of the Federal Reserve Jerome Powell testifies during the Senate's Committee on Banking, Housing and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Sept. 24, 2020, in Washington.
Drew Angerer/Pool/AFP via 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

A president and his Fed chair clash. Sound familiar?

Oct 27, 2020
Trump has pressured the head of the Federal Reserve to lower interest rates. But he wasn't the first American leader to do so.
President Lyndon B. Johnson wanted to fire Fed Chair William McChesney Martin Jr. for hiking interest rates. But presidents can't do that, so Johnson gave him a tongue lashing instead and shoved him against a wall.
Keystone/Getty Images