Edition:
United States

Howard Schneider

UPDATE 1-U.S. congressional hearing likely to spotlight Powell, Mnuchin split over pandemic lending

7:39am EST

WASHINGTON, Dec 1 U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell appear before a congressional panel on Tuesday in a hearing likely to highlight divisions over what more should be done in response to the COVID-19 pandemic and particularly on the fate of Fed emergency programs Mnuchin wants closed.

U.S. congressional hearing likely to spotlight Powell, Mnuchin split over pandemic lending

6:05am EST

WASHINGTON U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell appear together before a congressional panel on Tuesday in a hearing likely to highlight divisions over what more needs to be done in response to the COVID-19 pandemic.

Fed says extending four emergency liquidity programs to March 31, 2021

Nov 30 2020

WASHINGTON The U.S. Federal Reserve said Monday it is extending emergency liquidity programs for the commercial paper and other key financial markets through March 31, a step to help financial markets plan through the start of the next year as the economy recovers from the coronavirus pandemic.

Key dollar Libor rates get 18-month stay of execution

Nov 30 2020

WASHINGTON/LONDON/NEW YORK The United States will get more time than the rest of the world to ditch Libor after American banks agreed to help compile the tarnished interest rate benchmark until mid-2023, regulators announced on Monday.

UPDATE 3-Key dollar Libor rates get 18-month stay of execution

Nov 30 2020

WASHINGTON/LONDON/NEW YORK, Nov 30 The United States will get more time than the rest of the world to ditch Libor after American banks agreed to help compile the tarnished interest rate benchmark until mid-2023, regulators announced on Monday.

Powell: 'Challenging' months until vaccine clears production, distribution hurdles

Nov 30 2020

WASHINGTON A slowing recovery and a surging pandemic mean the United States is entering a "challenging" few months, with the potential deployment of a vaccine still facing the hurdles of production and mass distribution before its impact on the economy becomes clear, Fed chair Jerome Powell said on Monday.

Analysis: With end of crisis programs, Fed faces tricky post-pandemic transition

Nov 23 2020

WASHINGTON The possible arrival of a coronavirus vaccine in the coming weeks means the Federal Reserve may soon have to lay out its plans for helping the economy navigate the potentially choppy transition to a post-pandemic world.

Analysis: Fed faces ill political winds as Biden prepares for White House

Nov 20 2020

The U.S. Congress' rapid response to the coronavirus pandemic in March was meant to unleash a $4 trillion fire hose of credit for a stricken economy, distributed broadly by the Federal Reserve to help firms and markets survive a once-in-a-century collapse.

U.S. economy faces looming test as coronavirus wildfire rages

Nov 20 2020

WASHINGTON The uneasy balance between the wildfire-like spread of the coronavirus in the United States and an economy that remains largely open may be tested in coming weeks if face mask mandates and other lighter-touch measures fail to control the crisis.

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