Items Tagged with 'Jerome Powell'

ARTICLES

  • Warren urges Fed to remove Wells Fargo CEO

    Senator asks Fed chair to not allow Wells Fargo to grow until Sloan is removed
    Sen. Elizabeth Warren is urging the Federal Reserve to require the removal of Wells Fargo CEO Tim Sloan if the bank wants to grow. Warren sent a letter to Fed Chair Jerome Powell asking him to not allow the embattled megabank to grow in size until it replaces Sloan. In her letter, Warren said Sloan is "deeply implicated" in the bank’s prior misconduct.
    Read More
  • Janet Yellen: Economy's strong run could last through 2019

    Former Fed chair tells MBA crowd she's cautiously confident in economic stability
    At the MBA Annual on Monday, former Federal Reserve Chair Janet Yellen told the crowd there are strong indicators that the economy is in a good place. But, she does warn of a few potential flies in the ointment, like overly zealous deregulation, shadow banking and an overheated economy.
    Read More
  • President Trump 'not happy' with Fed hiking interest rates

    Mortgage rates keep inching higher, as well
    President Donald Trump is giving the Federal Reserve grief over interest rate hikes once again, but Federal Reserve Chairman Jerome Powell isn't paying him any mind. Meanwhile, mortgage rates are continuing to inch higher, higher today than in the last seven years, actually.
    Read More
  • Federal Reserve hikes interest rates again

    As expected, the Federal Reserve pushed rates up an additional .25% to stymie inflation
    The Federal Reverse raised interest rates for the third time this year, pushing rates up by .25% to 2.25%. Strong economic growth and a booming job market have led to the eighth rate hike since 2015, as the Fed tries to rein in the acceleration of inflation.
    Read More
  • Waters and 18 legislators demand Federal Reserve continue to regulate megabanks

    Ranking Member and Congressmen, D-Colo. Ed Perlmutter helps lead the charge
    This week, members of Congress demanded the Federal Reserve maintain strong capital requirements for Global Systemically Important Banks. Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., and Ranking Member of the House Committee on Financial Services Subcommittee on Terrorism and Illicit Finance Ed Perlmutter, D-Colo., led the charge.
    Read More
  • Monday Morning Cup of Coffee: Quicken Loans/United Wholesale drama continues

    Also, Sen. John McCain dies, Powell talks rates and Warren Buffett slashes beach house price
    Senator John McCain died Saturday at 81 after a year-long battle with brain cancer. Also, there’s a bit of a situation happening between Quicken Loans and United Wholesale Mortgage, and it’s been a virtual he-said, she-said all week. We've got a recap for you. In case you missed it, Federal Reserve Chair Jerome Powell talked rates on Friday. Plus, the Internet is freaking out because Warren Buffett has apparently overestimated the value of his California beach house.
    Read More
  • Powell defends Fed’s approach to monetary policy

    Expects to continue raising interest rates
    Federal Reserve Chair Jerome Powell defended the Fed’s current approach to monetary policy in a speech at the Jackson Hole symposium on Friday. In his speech, he outlined the current state of the U.S. economy and expressed his view that, for now, rate hikes will likely continue.
    Read More
  • Bloomberg: Trump taking shots at the Fed, again

    Trump publicly expresses displeasure with decision to increase interest rates
    President Donald Trump is back at it, taking shots at Federal Reserve Bank Chair Jerome Powell. Bloomberg reports that according to the three people present at a fundraising event in the Hamptons, Trump complained to wealthy Republican donors at a fundraiser in the Hamptons that Powell was raising interest rates.
    Read More
  • Trump "not thrilled" with interest rate hikes

    In an interview with CNBC, Trump criticized the Fed's decision to raise interest rates
    President Donald Trump says he is "not thrilled" with rising interest rates and that he is "frustrated" with the Federal Reserve. The president said he fears raising interest rates could jeopardize the economic recovery.
    Read More