U.S. President Joe Biden's decision to reappoint Federal Reserve Chair Jerome Powell arrives at a critical juncture for the central bank.
Federal Reserve policymakers are publicly debating whether to withdraw support for the U.S. economy more quickly to deal with surging inflation, with one of the central bank's most influential officials signaling on Friday that the idea will be on the table at the Fed's next meeting.
As President Joe Biden nears a decision on appointing a Federal Reserve chair, action over the matter continued to pick up on Friday in the U.S. Senate, which must confirm the choice, with a key moderate Democrat seeking time with the potential nominees and two more progressive lawmakers voicing opposition to the incumbent, Jerome Powell.
The Federal Reserve Bank of Dallas has kicked off a search for a new president to replace Robert Kaplan, the bank's previous top executive who left last month after a scandal over his personal financial transactions.
A public debate among Federal Reserve policymakers over how to respond to high inflation intensified on Tuesday, even as U.S. President Joe Biden neared a decision about who will lead the central bank for the next four years.
(Reuters) -San Francisco Federal Reserve Bank President Mary Daly on Tuesday said it will be mid-2022 before there is clarity on the true state of the labor market and the outlook for inflation, urging policy patience in the meantime.
WASHINGTON (Reuters) -U.S. Federal Reserve officials on Monday turned their focus toward a debate over monetary policy that will heat up in coming months as the Fed slows the pace of its asset purchases, clearing the decks for interest rate hikes as soon as next year.
WASHINGTON The Federal Reserve threw its weight back behind the drive for a full U.S. jobs recovery on Wednesday, restating its belief that current high inflation is "expected to be transitory" and, despite risks to that view, arguing that price pressures will ease and pave the way for stronger employment and economic growth in the months to come. | Video
It is hardly a secret by now that the Federal Reserve is going to reduce its support for the U.S. economy soon: starting this month it will likely begin to pare its monthly asset purchases by $15 billion each month until ending them by mid-2022.