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Jerome Powell

Buckle up for a big economics week in Washington

by Nancy Marshall-Genzer
Mar 6, 2023
Fed Chair Jerome Powell testifies on Capitol Hill tomorrow and Wednesday. President Biden is set to release a budget outline on Thursday, and we get February jobs numbers this Friday.
Above, Federal Reserve Chair Jerome Powell testifies to Congress in June. He's slated to appear before lawmakers again this week to discuss the central bank's activities and a range of economic issues.
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Shelf Life

The Federal Reserve's economic policy powers might be limitless, but should they?

by Jeanna Smialek
Feb 27, 2023
In her book "Limitless," New York Times reporter Jeanna Smialek asks how the Fed arrived at this powerful state.
"[Fed Chair Jerome] Powell and his colleagues knew, even as business news channels cheered on the forceful March 23 response that morning, that it would open his institution up to political criticism and possible mission creep," writes Jeanna Smialek in her new book. Above, Powell during an interview on Feb. 7.
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Here's what to look for in the latest consumer price index

by Matt Levin
Feb 13, 2023
CPI looked like it was heading in the right direction — that of lower inflation — at the end of 2022. Is that trend going to continue?
While goods may be getting cheaper, prices for services like hotels and rental cars are still getting pricier.
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Fed lifts rate by a quarter-point and signals more hikes ahead

by Associated Press
Feb 1, 2023
The increase is smaller than previous rate hikes but marks the Fed's eighth hike since March in its fight to tame inflation.
Federal Reserve Chair Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on Dec. 14.
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The Fed wants to bring inflation down to 2%. But why not 3%? Or 5%?

by Matt Levin
Dec 15, 2022
There's not much evidence to suggest that 2% leads to economic magic.
Federal Reserve Chair Jerome Powell on Wednesday reiterated the importance of the central bank's 2% inflation target. Backing off that number now could send the wrong message, some economists believe.
Win McNamee/Getty Images
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Is anyone who lost their job blaming the Fed?

by Matt Levin
Dec 1, 2022
About 225,000 filed unemployment claims last week. The public soured on the Fed the last time it jacked up interest rates to quell inflation.
While the public hasn't soured on Federal Reserve Chair Jerome Powell as much as it did on Paul Volcker in the '80s, a Gallup poll finds approval of the Fed slipping.
Drew Angerer/Getty Images
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Wage growth seems to be slowing. But is it enough to please Fed policymakers?

by Mitchell Hartman
Nov 4, 2022
The central bank watches for signs of wage inflation because it can drive price inflation.
Fed Chair Jerome Powell said wage gains have been “well above” the level needed to come down to Fed’s 2% inflation target.
Chip Somodevilla/Getty Images
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As the Fed cranks up interest rates, critics ring warning bells

by Kai Ryssdal , Sean McHenry and Anais Amin
Oct 5, 2022
Some economists and policy advisers fear that the Federal Reserve's rapid hikes could tip the global economy into a painful recession.
Federal Reserve Chair Jerome Powell speaks on Sept. 21, after the central bank decided to raise rates by 75 basis points for the third consecutive time.
Drew Angerer/Getty Images
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For TikTok maker Kyla Scanlon, it's about making finance fun (and a bit chaotic)

by Kai Ryssdal and Sean McHenry
Sep 7, 2022
Influencer Kyla Scanlon talks about the art of making TikToks on macroeconomics and her battles with algorithms and attention spans.
Kyla Scanlon is the independent economics educator and TikToker behind the "vibecession" theory.
Jarrett Dang/Marketplace
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Inflation is a global problem, but different countries face different pressures

by Victoria Craig
Aug 29, 2022
The U.S. is seeing some moderation in energy and food prices. That's not case overseas.
The energy situation in Europe, given its dependence on Russia, and the labor market forces are different from what we're seeing in the U.S.
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