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10:23 a.m. Sept. 16, 2020 - By MarketWatch
FOMC statement for September Fed plans to keep a key interest near zero until at least 2024The Federal Reserve on Wednesday signaled it plans to keep a key U.S. short-term interest rate near zero at least through the end of 2023 to help the economy recover from the coronavirus.
5:36 a.m. July 28, 2020 - By Greg Robb
Fed extends several emergency lending programs to end of year from Sept. 30The Federal Reserve on Tuesday said its board of governors had decided to extend several emergency loan programs until the end of the year. The programs had been set to expire on Sept. 30. "The three-month extension will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover from the COVID-19 pandemic," the Fed said in a statement. Set up to keep credit flowing in the aftermath of the market disruption in March, many of the Fed programs haven't seen a lot of interest in recent weeks. Fed officials argued that this was a healthy sign that credit was available from other sources and that it was important that the lending programs were in place in case that financial conditions deteriorated again.
11:59 a.m. July 21, 2020 - By Sunny Oh
Two-year Treasury yield lowest in more than two months as bond market looks past deal on EU fiscal stimulus package Investors had mostly priced in an EU deal on the recovery fundU.S. Treasury and European bond yields showed muted reaction on Tuesday to a deal on the European Union’s recovery fund, which will deploy billions of euros across its member sates to cushion the economic blow from the coronavirus-driven downturn.
12:28 p.m. July 10, 2020 - By Greg Robb
Stalled nomination of Judy Shelton for Fed gets new life as Senate Banking committee sets voteThe stalled nomination of Judy Shelton, President Donald Trump's controversial pick for the Federal Reserve, got a potential boost Friday when the Senate Banking Committee announced a July 21 vote on her nomination. Shelton's bid has languished since her confirmation hearing in February amid talk she didn't have enough committee support. Shelton, who was an informal Trump adviser during his presidential campaign, has been a long-time advocate for some form of tying the dollar's value to gold. She faces unanimous opposition from Democrats and some Republicans were on the fence. The committee will also vote on a second Trump Fed nominee, Christopher Waller, the director of research at the St. Louis Fed. Waller is expected to be confirmed easily.
12:28 p.m. July 10, 2020 - By Greg Robb
Stalled nomination of Judy Shelton for Fed gets new life as Senate Banking committee sets voteThe stalled nomination of Judy Shelton, President Donald Trump's controversial pick for the Federal Reserve, got a potential boost Friday when the Senate Banking Committee announced a July 21 vote on her nomination. Shelton's bid has languished since her confirmation hearing in February amid talk she didn't have enough committee support. Shelton, who was an informal Trump adviser during his presidential campaign, has been a long-time advocate for some form of tying the dollar's value to gold. She faces unanimous opposition from Democrats and some Republicans were on the fence. The committee will also vote on a second Trump Fed nominee, Christopher Waller, the director of research at the St. Louis Fed. Waller is expected to be confirmed easily.
1:58 p.m. May 26, 2020 - By Sunny Oh
Fed should lift caps to buy as much corporate bond ETFs as it wants, says BofA Fed has bought $1.8 billion through its corporate-debt facilities, so farThe Federal Reserve should remove ceilings on its purchases of corporate bond exchange-traded funds to deliver on market expectations that it would scoop up hundreds of billions worth of such debt to keep credit flowing to a broad spectrum of U.S. companies during the pandemic.
12:52 p.m. May 26, 2020 - By Greg Robb
Consumer confidence stabilizes in May after sharp plunge in prior month Conference Board index rises to 86.6 in May from 85.7 in AprilThe U.S. index of consumer confidence rose slightly in May to 86.6 from a revised 85.7 in the prior month, the Conference Board reported Tuesday.
6:45 a.m. May 13, 2020 - By Chris Matthews
Investors should prepare for a U.S. ‘economic depression,’ warns Kyle Bass, but China’s fate could be even worse Hedge-fund manager predicts U.S. economy could contract upwards of 10%Kyle Bass made his name betting against the U.S. housing market more than a decade ago, and now he is predicting an economic contraction that could be more than three times as severe as that suffered during the Great Financial Crisis.
2:55 p.m. May 2, 2020 - By William Watts
Warren Buffett says Fed's Jerome Powell belongs on same 'pedestal' as Paul VolckerBerkshire Hathaway Chairman and Chief Executive Warren Buffett on Saturday had high praise for the Federal Reserve's handling of the market turmoil that accompanied the deepening of the coronavirus crisis in March, comparing Chairman Jerome Powell with the late Paul Volcker, who was credited with taming runaway inflation in the late 1970s and early 1980s. "He and Jay Powell couldn't seem more different in temperament..but Jay Powell, in my view, and the Fed board belong up there on the pedestal" with him, Buffett said in remarks at Berkshire's annual meeting, being held online this year due to the COVID-19 pandemic. Buffett said the Fed's muscular response to a Treasury market that had nearly frozen and other financial turmoil in March was crucial to averting deeper carnage. Conditions were sparking fear and "fear is the most contagious disease you can imagine," Buffett said, with conditions approaching a "total freeze" in credit markets before the Fed took action. Every company that issued bonds in late March and April should write a thank-you letter to the Fed, he said, because the issuance couldn't have taken place if the central bank hadn't acted with "unprecedented speed and determination." While nobody knows exactly what the consequences will be of the Fed's massive expansion of its balance sheet, "we do know the consequences of doing nothing and that's would have been the tendency of the Fed in many years past." Buffett said such incidents illustrated why Berkshire Hathaway carries a large chunk of cash, including a hefty chunk of Treasury bills. While it doesn't necessarily need a pile as large as what's now on the books, it does want to be prepared for a scenario where there isn't a Fed that acts as aggressively and, any case, doesn't want to depend not only on the "kindness of strangers but on the kindness of friends."
10:01 a.m. April 29, 2020 - By MarketWatch
Read the Federal Reserve’s April statement FOMC signals it will do what is necessary to help U.S. economyThe Federal Reserve has already reduced a key interest rate to zero and made trillions of dollars of money available to help prop up the U.S. economy during the coronavirus pandemic. The Fed on Wednesday indicated it stands ready to do more if necessary.
12:03 p.m. April 28, 2020 - By Sunny Oh
Treasury yields grind lower as Fed meeting gets underway Treasury finished up the last of its three debt auctions this weekU.S. Treasury yields fall on Tuesday as investors looked forward to the outcome of the Federal Reserve’s two-day policy meeting when Fed Chairman Jerome Powell will speak on the economic outlook on Wednesday.
5:48 a.m. April 25, 2020 - By Jonathan Nicholson
Fear of moral hazard is imperiling federal aid to cash-strapped states Congressional Republicans think assistance will reward states who with underfunded pension plansMoral hazard is always a concern when fighting economic and financial crises. This time its imperiling federal aid to cash strapped states
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