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.
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...
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..
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...
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..
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..
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..
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..
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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".. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published
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.. Reuters - Published