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Tag: Jerome Powell

US Fed to continue gradual rate hikes to manage potential risks

Washington: US Federal Reserve Chair Jerome Powell has reiterated that the central bank will stick to the strategy of gradual rate hikes to manage potential risks and support domestic economic recovery. Speaking on Friday at an annual economic symposium in Jackson Hole, Wyoming, Powell said the central bank faces two major risks — “moving too fast […]

Jerome Powell sworn in as US Fed chief

Washington: Jerome Powell took the oath of office on Monday as Chairman of the US Federal Reserve, succeeding Janet Yellen. “Today, unemployment is low, the economy is growing, and inflation is low. Through our decisions on monetary policy, we will support continued economic growth, a healthy job market, and price stability,” said Powell after being […]

US Federal leaves rates unchanged amid leadership change

Washington:The US Federal Reserve on Wednesday left its benchmark interest rates unchanged as current Federal Chair Janet Yellen prepares to hand over the leadership of the central bank to Jerome Powell later this week. The Federal decided to maintain the target range for the federal funds rate at 1.25 to 1.5 per cent after its […]

FILE PHOTO: Powell testifies on his nomination to become chairman of the U.S. Federal Reserve in Washington
US Senate confirms Jerome Powell as next Fed chair

Washington: US Senate on Tuesday confirmed Jerome Powell as the next chairman of the Federal Reserve. In a bipartisan vote of 85-12, senators approved Powell to lead the central bank in a term of four years. Powell is to succeed current Fed chair Janet Yellen when her terms expires on February 3, reports Xinhua. Powell […]