Jerome Powell

Noting that inflation has cooled but “remains well above” the Fed’s 2% target, Powell said the central bank still has more work to do.

“The labor market remains extremely tight,” the chair of the Federal Reserve, Jerome Powell, said Wednesday. “Inflation remains well above our longer-run goal of 2%.”

The Fed’s seventh rate hike this year will make it even costlier for consumers and businesses to borrow for homes, autos and other purchases.

Federal Reserve Chairman Jerome Powell delivered his annual policy speech and reiterated that the central bank will continue to flight inflation even as it brings “some pain to households and businesses.”

Fed Chairman Jerome Powell warned that he expects the central bank to continue raising rates in a way that will cause “some pain” to the economy.

The Fed’s move will raise its key rate, which affects many consumer and business loans, to a range of 2.25% to 2.5%, its highest level since 2018.

Federal Reserve Chairman Jerome Powell spoke on Thursday about the continuing effort to fight inflation.

“We’ve seen financial conditions tighten,” Federal Reserve Chair Jerome Powell said Wednesday. “The next meeting could very well be about decision between 50 and 75 [basis points].”

President Joe Biden and Federal Reserve Chairman Jerome Powell have met to plot a strategy to fight inflation. Biden hoped the meeting on Tuesday would demonstrate his concern to voters, though he insisted anew the White House will not interfere with the independent central bank’s work. Its highly sensitive task is raising benchmark interest rates in hopes of slowing inflation...

Inflation eased slightly in April after months of relentless increases but remained near a four-decade high, making it hard for millions of American households to keep up with surging prices. Consumer prices jumped 8.3% from a year ago, below the 8.5% year-over-year surge in March. Still, there are signs that inflation may be becoming more entrenched. Excluding the volatile food...

A new poll conducted by YouGov for NBCLX found that Democrats and Republicans felt similarly about whether President Biden should have re-appointed Federal Reserve Chairman Jerome Powell… until they learned he was first named to the post by former President Trump. NBCLX Political Editor Noah Pransky joined LX News Now to explain what this says about political polarization in America.

How much does wording matter in a political poll? Quite a bit, it turns out, when the word is “Trump.” In a new survey, conducted by YouGov for NBCLX, American citizens — across most age, gender, and ideological groups — were largely split as to whether President Biden should have re-appointed Federal Reserve Chairman Jerome Powell, tasked with managing America’s…

As the Federal Reserve intensifies its efforts to tame high inflation, its top officials are casting their aggressive drive in a new light: As a blow against economic inequality.

As the Fed tries to pump the brakes on inflation, it will get more expensive to borrow. Here’s how to prepare.