Economy

Powell says inflation is still ‘soft’ and the Fed is committed to current policy stance

US Federal Reserve Bank Chairman Jerome Powell speaks at a press conference in Washington, DC, on December 11, 2019. Eric Baradat | AFP | Getty Images Inflation and employment remain well below the Federal Reserve’s goals, meaning easy monetary policy is likely to stay in place, central bank Chairman Jerome Powell said Tuesday. Despite a […]

Economy

Treasury Secretary Janet Yellen makes push for major stimulus, sees bigger risk in not doing enough

Treasury Secretary Janet Yellen on Thursday said a large stimulus package is still necessary to get the economy back to full strength, despite momentum suggesting that growth is off to a faster start than anticipated in 2021. In a CNBC interview, the lead economic official in the Biden administration said the $1.9 trillion proposal could […]

Economy

U.S. retail sales January 2021

Consumers flocked to spend their stimulus checks in January, sending retail sales for the month up 5.3% in a blockbuster start to 2021, according to a government report Wednesday. Economists surveyed by Dow Jones were expecting a rise of just 1.2%. Excluding autos, sales rose 5.9%, also far ahead of the 1% estimate in a […]

Economy

Consumer spending expected to see boost in January, helped by stimulus checks

A woman carries Nike shopping bags at the Citadel Outlet mall, as the global outbreak of the coronavirus disease (COVID-19) continues, in Commerce, California, December 3, 2020. Lucy Nicholson | Reuters Aided by government stimulus checks, consumers are expected to have boosted their spending in January, and the trend is likely to continue to gain […]

Economy

Fed’s Bullard doesn’t see asset bubble and doubts policy will tighten soon

St. Louis Federal Reserve president James Bullard said Tuesday that he doesn’t see a bubble in asset prices and doubts the central bank needs to start tightening policy anytime soon. With prices surging in the stock market and in alternative assets like bitcoin, Fed officials have faced repeated questions about whether low rates and trillions […]