Mnuchin to Let Emergency Credit Programs Lapse
If the economy "really goes south," the Treasury Secretary "will go down in history as the man who took away a safety net when it was really needed.”
Fed Chair Jerome Powell Calls for More Stimulus
The central bank chair said fiscal stimulus is needed to help the economy recover from the effects of the coronavirus.
Fed Survey: Household Finances Improve, Uncertainty Remains
Overall, at least 77% of adults said they were at least “doing OK” in July, up from 72% in April.
U.S. Economy Shrinks by Record 32.9% in Q2
“It’s a very deep and dark hole and we’re coming out of it, but it’ going to take a long time to get out.”
Democrats Release Coronavirus Relief Bill
The bill, which includes payroll assistance and aid to state and local governments, faces a chilly reception in the Senate.
Fed Cuts Interest Rates in Emergency Virus Move
“We saw a risk to the outlook of the economy [from the coronavirus outbreak] and we chose to act," Fed Chair Jerome Powell says.
Fed Cuts Interest Rates Again in ‘Insurance’ Move
“We took this step to help keep the economy strong in the face of global developments and to provide some insurance against ongoing risks."
Fed OKs Rollbacks of Post-Crisis Banking Rules
The Board of Governors voted 4-1 in favor of the changes, with the dissenter saying they would weaken core safeguards.
Fed to Buy Treasuries to Ease Funding Strains
The Fed's move to grow its balance sheet comes after last month's “unexpectedly intense volatility” in the funding markets.
Fed Ready for More Funding Markets Interventions
“For the foreseeable future, we’re going to be looking at doing the sorts of things we did the last two days," Fed Chair Jerome Powell says.
Minutes Show Central Bank Divided Over Rate Cut
Fed members agreed, however, that they did not want to signal new cuts.