U.S. Federal Reserve Chair Jerome Powell on Thursday repeated his pledge to keep credit loose and flowing until Americans are back to work, rebutting investors who have openly doubted if he can stick to that promise once the pandemic passes and the economy surges on its own.
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NEW YORK (Reuters) - Investors hoping for action from Federal Reserve Chair Jerome Powell to address recent turmoil in the Treasury market were left disappointed.
Powell told a Wall Street Journal forum on Thursday that the Fed remained committed to keeping monetary conditions loose until more Americans are back to work. His comments, likely the last before a press conference on March 17 following the Fed’s next policy meeting, brushed off concerns that a recent move up in U.S. Treasury yields might spell trouble for the Fed as investors push up borrowing costs the central bank wants to keep low.
Myanmar's military rulers attempted to move about $1 billion held at the Federal Reserve Bank of New York days after seizing power on Feb. 1, prompting U.S. officials to put a freeze on the funds, according to three people familiar with the matter, including one U.S. government.
Read more about Biden s Budget nominee Neera Tanden withdraws nomination amid opposition on Business Standard. President Joe Biden s pick to head the Office of Management and Budget, Neera Tanden, has withdrawn her nomination after she faced opposition from senators for her controversial tweets
Chicago Federal Reserve Bank President Charles Evans on Wednesday said he is "optimistic" about the economic outlook and does not expect to need to further ease Fed policy as long as Congress passes further fiscal relief.