Fed's Powell: U.S. economy at an 'inflection point' - CBS '60 Minutes'
The U.S. economy is at an "inflection point" with expectations that growth and hiring will pick up speed in the months ahead, but also risks if a hasty reopening leads to a continued increase in coronavirus cases, Federal Reserve Chair Jerome Powell said.
(23) Victoria Guida on Twitter: "Since I just wrote a story about Treasury debt management, I thought this might be a great moment for an explainer thread: What is the relationship between the Federal Reserve, Treasury and money? 1/x" / Twitter
Since I just wrote a story about Treasury debt management, I thought this might be a great moment for an explainer thread: What is the relationship between the Federal Reserve, Treasury and money? 1/x— Victoria Guida (@vtg2) March 15, 2021
(2) Trevor Chow on Twitter: "Never knew I needed this in my life till now, but behold the three most based and most recent Fed chairs: https://t.co/vw3pOoPCbF" / Twitter
Never knew I needed this in my life till now, but behold the three most based and most recent Fed chairs: pic.twitter.com/vw3pOoPCbF— Trevor Chow (@tmychow) March 10, 2021
How the Federal Reserve won its independence : Planet Money : NPR
The story of the day the Federal Reserve got its independence and the fight — an actual physical fight — to keep it. | Subscribe to our weekly newsletter here.
Wall Street finishes up as Fed's Powell soothes inflation fears | Reuters
Shares on Wall Street ended higher on Wednesday, as a selloff in technology-related stocks eased and a rotation into cyclical shares continued after Federal Reserve Chair Jerome Powell's comments calmed inflation worries.
Michigan State University professor backed to fill vacancy on Federal Reserve Board of Governors
Economist and Michigan State University professor Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar with the…
How the Fed Has Responded to the COVID-19 Pandemic | St. Louis Fed
Some important actions the Fed has taken include lowering the policy rate to near zero, increasing its purchases of Treasuries and mortgage-backed securities to stabilize those markets, and introducing emergency lending programs.
Banks have grown by $2 trillion in deposits since coronavirus first hit
The wall of money flowing into banks has no precedent in history: in April alone, deposits grew by $865 billion, more than the previous record for an entire year.
Worries grow over a K-shaped economic recovery that favors the wealthy
Worries of a K-shaped recovery are growing in the alphabet-obsessed economics profession. That would entail continued growth, but split sharply between industries and economic groups.
(5) Jackson Hole Economic Policy Symposium - YouTube
The Jackson Hole Symposium has provided public transparency since the first session in 1978. Representatives from the news media have been in the room with full access to the program and participants, and a transcript of the symposium papers and discussion is published online along with an attendee list. In addition, an e-book titled, “In Late August” tells the history of the Symposium. The Economic Symposium’s complete archive is available at kansascityfed.org.
How the Fed Influences Interest Rates Using Its New Tools | St. Louis Fed
Post-financial crisis, interest on reserves became the primary tool for adjusting the fed funds rate. And the ON RRP rate is now a supplementary tool that acts as a “floor.”