After roughly two decades of ultralow interest rates, a period of rapid readjustment is ahead for the United States, the world’s largest economy and most important financial system.
Our reporter Colby Smith, who covers the Federal Reserve and the economy, looks back at Jerome Powell’s tenure as chair of the Fed.
April’s report showed employers added more jobs than expected, supporting the central bank’s view that it can afford to hold interest rates steady.
Jerome H. Powell will remain a governor at the Federal Reserve after his term as chair ends, in a bid to guard against a further incursion by the Trump administration on the central bank’s independence.
Jerome H. Powell’s term as chair of the Federal Reserve ends on May 15, but it appears increasingly likely that he will stay on in some capacity at the central bank after that.
Soaring energy costs led to the biggest monthly increase in the Consumer Price Index since the peak of the post-pandemic inflation crisis in June 2022.
Christopher J. Waller, a Federal Reserve governor, said he would support a pause in rate cuts in March if the labor market continued to show signs of stabilizing.
The Consumer Price Index fell in January to 2.4 percent from 2.7 percent a month