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Central banking system of the United States

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Federal Reserve: Central banking system of the United States
The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.

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Warren Says She Will Watch Over Corporations Loans 'Carefully' [Video]

Warren Says She Will Watch Over Corporations Loans 'Carefully'

Sen. Elizabeth Warren wants corporations getting money from the stimulus package to use it responsibly. She wrote a letter to Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell...

Credit: Wochit News     Duration: 00:32Published
Trump signs $2.2 trillion coronavirus aid bill into law [Video]

Trump signs $2.2 trillion coronavirus aid bill into law

U.S. President Donald Trump signed into law the largest fiscal relief measure ever passed by Congress on Friday, moments after the U.S. House of Representatives passed the bill, despite calls for a..

Credit: Reuters Studio     Duration: 02:45Published
House passes $2.2 trillion aid bill, sends to Trump [Video]

House passes $2.2 trillion aid bill, sends to Trump

Despite GOP congressman Thomas Massie attempting to delay the vote, the U.S. House of Representatives on Friday approved a $2.2 trillion aid package - the largest in American history - to help..

Credit: Reuters Studio     Duration: 01:21Published
Pelosi anticipates bipartisan support for coronavirus bill in U.S. House [Video]

Pelosi anticipates bipartisan support for coronavirus bill in U.S. House

The Democratic Speaker of the U.S. House of Representatives on Thursday said she expects "a strong bipartisan vote" on a $2 trillion rescue package, which Nancy Pelosi credited Democrats for winning..

Credit: Reuters Studio     Duration: 02:06Published
U.S. jobless claims surge to record 3.28 million [Video]

U.S. jobless claims surge to record 3.28 million

The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as an economy grounded to a halt by the coronavirus pandemic throws millions out of..

Credit: Reuters Studio     Duration: 02:19Published
Stocks rebound on hopes for massive global stimulus [Video]

Stocks rebound on hopes for massive global stimulus

Stocks in Asia and Europe gained Tuesday after the Federal Reserve promised unlimited supplies of dollars. Julian Satterthwaite reports.

Credit: Reuters Studio     Duration: 01:26Published
Aggressive Fed boost fails to stop sell-off [Video]

Aggressive Fed boost fails to stop sell-off

Wall Street's slide deepened Monday as unprecedented moves to shore up credit failed to sooth investors fears about the coronavirus crisis. As Fred Katayama reports, the Senate's failure to pass a..

Credit: Reuters Studio     Duration: 01:23Published
Global economy is already in recession -economist poll [Video]

Global economy is already in recession -economist poll

The global economy is already in recession due to the coronavirus pandemic, according to economists polled by Reuters, separately Goldman Sachs sees U.S. GDP plunging 24 percent in the second quarter...

Credit: Reuters Studio     Duration: 02:06Published
S&P climbs 2% as Fed takes further steps [Video]

S&P climbs 2% as Fed takes further steps

U.S. stocks rebounded Thursday after recent steep losses as policymakers around the world took further emergency actions to try to help financial markets cope with deep coronavirus-driven economic..

Credit: Reuters Studio     Duration: 01:36Published
Wall Street Bounces, After Selloff Fed Boosts Liquidity [Video]

Wall Street Bounces, After Selloff Fed Boosts Liquidity

NEW YORK (Reuters) - The S&P 500 rose 6% on Tuesday, a day after its steepest decline since the 1987 crash, as the Federal Reserve took further steps to boost liquidity and stem damage from the..

Credit: Wochit News     Duration: 00:35Published
Wall Street rebounds from Monday's sell-off [Video]

Wall Street rebounds from Monday's sell-off

The Dow soared more than 1000 points, and the S&P 500 tacked on 6% Tuesday, a day after the steepest decline since the 1987 crash. As Fred Katayama reports, the Fed took several steps to boost..

Credit: Reuters Studio     Duration: 01:45Published
Dow drops almost 3,000 points [Video]

Dow drops almost 3,000 points

U.S. stocks suffered their biggest one-day drop Monday since the 1987 crash. As Fred Katayama reports, the Fed's emergency action fueled investor anxiety over a potential recession due to the..

Credit: Reuters Studio     Duration: 01:26Published
Dow drop almost 3,0000 points [Video]

Dow drop almost 3,0000 points

U.S. stocks suffered their biggest one-day drop Monday since the 1987 crash. As Fred Katayama reports, the Fed's emergency action fueled investor anxiety over a potential recession due to the..

Credit: Reuters Studio     Duration: 01:26Published
U.S. airlines seek $50bln government bailout [Video]

U.S. airlines seek $50bln government bailout

Major airlines sought a U.S. government bailout of more than $50 billion as the White House urgently worked on drafting a financial assistance package in the wake of the steep falloff in travel caused..

Credit: Reuters Studio     Duration: 02:39Published
Stocks tumble again as Fed rate cut fails to offer comfort [Video]

Stocks tumble again as Fed rate cut fails to offer comfort

Global stocks tumbled again on Monday despite concerted efforts by central banks to reassure markets. Julian Satterthwaite reports.

Credit: Reuters Studio     Duration: 01:58Published
Powell on Federal Reserve rate cut to near zero-percent [Video]

Powell on Federal Reserve rate cut to near zero-percent

The U.S. Federal Reserve cut interest rates to near zero on Sunday in another emergency move to help shore up the U.S. economy amid the rapidly escalating coronavirus pandemic.

Credit: Reuters Studio     Duration: 01:18Published
Fed slashes rates in emergency coronavirus move, Trump calls action 'terrific' [Video]

Fed slashes rates in emergency coronavirus move, Trump calls action 'terrific'

With panic buying on Main Street and fear-driven sell-offs on Wall Street, the U.S. Federal Reserve cut interest rates to near zero on Sunday in another emergency move to help shore up the U.S. economy..

Credit: Reuters Studio     Duration: 01:28Published
Trump congratulates Fed for cutting interest rates, calls action 'terrific' [Video]

Trump congratulates Fed for cutting interest rates, calls action 'terrific'

U.S. President Donald Trump said the Federal Reserve's decision on Sunday to cut interest rates was "good news" and "makes me very happy" as he congratulated the central bank for taking further action..

Credit: Reuters Studio     Duration: 02:07Published
The economic remedies for the coronavirus [Video]

The economic remedies for the coronavirus

Leaders and policymakers have been forced to act as the coronavirus sparks economic panic. These are some of the key measures being taken. Megan Revell reports.

Credit: Reuters Studio     Duration: 02:23Published
Dow plunges 10% in worst day since '87 crash [Video]

Dow plunges 10% in worst day since '87 crash

Wall Street closed at the lows of the day, with the Dow plunging 10 percent in its biggest percentage drop since the October 1987 crash, as stocks confirmed a bear market. Conway G. Gittens reports.

Credit: Reuters - Politics     Duration: 02:27Published
Stocks tank again as Trump puts EU in quarantine [Video]

Stocks tank again as Trump puts EU in quarantine

Global stocks tumbled again on Thursday after U.S. President Donald Trump's move to suspend entry into the U.S. from most EU countries. Julian Satterthwaite reports.

Credit: Reuters Studio     Duration: 01:57Published
Dow enters bear market territory amid coronavirus fears [Video]

Dow enters bear market territory amid coronavirus fears

Wall Street stocks plunged on Wednesday, with the Dow confirming a bear market for the first time since the financial crisis after the World Health Organization called the coronavirus outbreak a..

Credit: Reuters Studio     Duration: 02:26Published
Britain announces war chest to fight coronavirus [Video]

Britain announces war chest to fight coronavirus

Britain's finance minister, Rishi Sunak, unveiled a budget with a multi-billion-pound stimulus package to help ward off the economic impact of coronavirus.

Credit: Reuters Studio     Duration: 02:01Published
Trump says U.S. Fed should cut rates [Video]

Trump says U.S. Fed should cut rates

President Donald Trump said on Friday the Federal Reserve should cut U.S. interest rates and stimulate the economy, three days after the central bank slashed interest rates by half a percentage point..

Credit: Reuters Studio     Duration: 01:13Published

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What the Federal Reserve has done in the coronavirus crisis

The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and..
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Wall St. gains as U.S. extends shutdown to limit virus spread

U.S. stocks rose on Monday as President Donald Trump followed last week's massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors hopeful the economic impact of the..
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Fed balance sheet tops $5 trillion for first time as it enters coronavirus war mode

The U.S. Federal Reserve's balance sheet soared past $5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its..
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To avoid a repeat of 2008, Main Street America says help needs to be fast

Small businesses in the United States say promised help from the federal government and the Federal Reserve is welcome news in the battle to stay afloat through the coronavirus crisis, but needs to hit..
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Fed's Powell says virus to dictate when U.S. economy reopens

U.S. Federal Reserve Chair Jerome Powell told Americans on Thursday progress in controlling the spread of the coronavirus would determine when the economy reopens but assured them the Fed was taking..
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Fed's Powell: U.S. may be in recession, control of virus to dictate timing of economy reopening

The U.S. "may well be in recession" but progress in controlling the spread of the coronavirus will dictate when the economy can fully reopen, Federal Reserve chair Jerome Powell said Thursday in an..
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Coronavirus slowdown starts to rival Fed's doomsday bank stress test scenario

The unfolding market shock and economic crisis wrought by the coronavirus disruption is shaping up to be a nightmare for the Federal Reserve – literally.
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Fed's stimulus eases global market fears, gets cash flowing

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Trump, Pence held call with investors on economy - administration official

U.S. President Donald Trump and Vice President Mike Pence held a conference call on Tuesday with Wall Street investors to discuss the U.S. economy, the Federal Reserve and other issues, an..
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Stocks, gold surge on new stimulus from Fed, others

Financial markets rebounded sharply on Tuesday, with a measure of global equities headed for its biggest bounce since the crisis erupted a month ago, while the safe-haven dollar recoiled as investors..
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Boundless Fed QE fuels 2% equity bounce, calms dollar

Global equities rebounded almost 2% on Tuesday, off near four-year lows, and the dollar slipped as investors pinned hopes on unprecedented stimulus steps by the U.S Federal Reserve and other..
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Asian stocks rebound, Fed soothes with boundless QE

Asian equities markets rallied on Tuesday as investors bet the U.S Federal Reserve's promise of unlimited dollar funding would ease painful strains in financial markets even if it could not stop the..
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Asia stocks rebound, Fed pits endless QE against economic reality

Asian stocks rebounded sharply on Tuesday as the U.S. Federal Reserve's promise of bottomless dollar funding eased painful strains in financial markets, even if it could not soften the immediate..
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Historic Fed boost fails to stop Wall Street's coronavirus-driven sell-off

Wall Street's slide deepened on Monday as an unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy proved insufficient to sooth investors' fears about the..
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U.S. Fed aims 'bazooka' to backstop coronavirus-hit economy

The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the..
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U.S. states, cities beg for coronavirus help; Fed tries to shield economy

U.S. governors and mayors pleaded for help from the federal government and even from private citizens to fight the coronavirus outbreak as the U.S. Federal Reserve launched an extraordinary array of..
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Market panic lingers despite unprecedented Fed support

Unprecedented support from the U.S. Federal Reserve failed to lift global stock markets on Monday as investors continued to fret over the economic and human toll of the coronavirus pandemic.
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Fed boost fails to stem Wall Street rout

Wall Street's slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an aggressive policy easing by the Federal Reserve and putting..
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New York begs for federal help over coronavirus as Fed sets up fiscal supports

New York Mayor Bill de Blasio pleaded for help from the federal government and from private citizens to fight the coronavirus outbreak as the U.S. Federal Reserve launched an extraordinary array of..
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A 'bailout' for Main Street? Fed says it is on the way

U.S. Federal Reserve and Trump administration officials over the last week have greased corporate and bank financial markets, freed up half a trillion dollars for central banks in other countries, and..
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Fed aims 'bazooka' at coronavirus to backstop economy

The U.S. Federal Reserve on Monday rolled out an extraordinary new array of programs aimed at blunting the "severe disruptions" to the economy caused by the coronarvirus outbreak, backstopping an..
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Wall Street falls as Fed fails to assuage virus worries

Wall Street slipped on Monday as the still rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an unprecedented round of policy easing by the Federal Reserve.
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Fed support fails to pull stocks out of dive

Fresh support announced by the Federal Reserve failed to lift Wall Street on Monday, after Europe and Asia had both been overwhelmed by the coronavirus pandemic and growing number of national lockdowns..
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Fed: New Main Street program meant to ensure all firms have access to credit

A Federal Reserve "Main Street" lending program still under development is meant to dovetail with proposals under consideration by Congress to make sure the full range of U.S. companies, from the..
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Futures jump 3% as Fed launches aggressive credit boost

U.S. stock index futures surged more than 3% on Monday, overturning early losses after the Federal Reserve took unprecedented steps to support U.S. households and companies more directly with credit as..
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Futures pare losses after Fed launches direct cash injections

U.S. stocks futures pared losses on Monday after the Federal Reserve launched unprecedented measures to support U.S. households and companies, seeking to blunt the economic damage from the coronavrius..
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Fed mounts aggressive new steps to combat coronavirus hit to economy

The U.S. Federal Reserve on Monday said it would begin backstopping an unprecedented range of credit for households, small businesses and major employers in an effort to offset the "severe disruptions"..
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Coronavirus aid bill includes $3,000 for families, $4 trillion liquidity for Fed: Mnuchin

The coronavirus economic relief bill being finalized in Congress will include a one-time $3,000 payment for families and allow the Federal Reserve to leverage up to $4 trillion of liquidity to support..
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Markets rebound as policymakers further boost liquidity

European and American stocks rebounded on Thursday, halting further declines, in a sign further steps to boost liquidity by the U.S. Federal Reserve and other central banks has tentatively calmed..
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U.S. recession chances now at 80% despite Fed emergency moves: Reuters poll

The coronavirus crisis has almost certainly ended the longest U.S. expansion on record and pushed the economy into the start of a short slump, according to analysts polled by Reuters who gave a median..
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Analyst View: Fed opens central bank swap lines to stave off coronavirus slump

The U.S. Federal Reserve on Thursday opened the taps for central banks in nine new countries to access dollars in hopes of preventing the coronavirus epidemic from causing a global economic rout.
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Fed opens dollar swap lines for nine additional foreign central banks

The U.S. Federal Reserve opened the taps on Thursday for central banks in nine additional countries to access dollars in hopes of preventing the coronavirus epidemic from causing a global economic..
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Richmond Fed's Barkin: Fed moving 'aggressively' to ensure market function

The Federal Reserve is "aggressively" tackling problems with market functioning and liquidity as it sees them arise, with programs like the Term Auction Facility for banks not deemed necessary yet but..
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Fed moves to backstop funding for U.S. companies as coronavirus fallout spreads

The U.S. Federal Reserve moved Tuesday to ensure the flow of credit to U.S. companies, banks and even local governments amid a nationwide scramble for ways to blunt the economic fallout from the..
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Fed officials flag possible further steps in Fed crisis response

Federal Reserve officials are deliberating over next steps in their response to the fallout from the coronavirus epidemic, with some urging a broad debate about how the central bank might help small..
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Wall Street jumps after Monday's historic sell-off as Fed boosts liquidity to fight coronavirus effect

The S&P 500 rose 6% on Tuesday, clawing back a significant portion of Monday's steep losses, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the..
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Fed extends loan offer to primary dealers in further credit easing

The U.S. Federal Reserve moved again late on Tuesday to broaden the flow of credit in response to the coronavirus epidemic, saying it would offer short-term loans to the two dozen Wall Street primary..
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