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Year-on-year inflation bottomed at 5% in December 1976 before moving higher once again. Paul Volcker was chosen as Fed Chairman in 1979 in order to deal with the challenge of high inflation. In a rare Saturday press conference on October 6, 1979, [6] Paul Volcker's federal reserve increased the Fed Funds rate from 11% to 12%. [7]
Meeting date. Rate change. Target. January 9, 1991: Conference call-25 basis points. 6.75 percent. February 1, 1991: Conference call-50 basis points. 6.25 percent
The Federal Reserve is tasked with maintaining a stable and sound financial system — most notably by raising or lowering interest rates at (what’s typically) eight meetings a year.
The Federal Reserve is set to announce its first interest rate decision of 2025 and with a pause expected, it could prompt President Donald Trump to renew his criticism of the central bank.
At a White House meeting on October 15, 1969, Nixon confronted Martin over his tight-money policy, but Martin declined to yield. Two days later, the White House announced that Arthur Burns would replace Martin as chairman of the Federal Reserve on Feb. 1, 1970. [12] The 1974 William McChesney Martin Jr. Federal Reserve Board Building
A majority of Federal Reserve officials who attended a September policy meeting believed one more interest rate hike would "likely be appropriate" in the future while some argued no more increases ...
The Federal Reserve kept its thumb squarely on the pause button at this week’s meeting. That’s good news for your bank accounts, since another rate cut would probably mean a lower return on ...
Many experts originally expected a 0.50 percentage point increase this week, and Federal Reserve Chair Jerome Powell said at the May meeting that the agency was not considering a 0.75 hike.