FOMC

The Fed chairman said he has not given up on the central bank agreeing with other regulatory agencies on a plan to modernize the Community Reinvestment Act, but admitted, "I don’t know whether that will be possible or not.”

Former Fed Chairman Paul Volcker is now synonymous with a provision of the Dodd-Frank law. But his legacy extends well beyond that.

Despite concerns over how regulatory requirements affect short-term funding markets, the central bank is not considering a reduction in the liquidity coverage ratio, Jerome Powell said.

CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big depositors could go elsewhere.

President Donald Trump urged the Federal Reserve to lower interest rates to a level typically reserved for recessions or periods of persistently weak growth, suggesting that such a setting could allow the government to restructure Treasury debt at a lower cost.

The Federal Reserve's monetary policies have exacerbated the wealth gap, making the central bank a vulnerable target for Trump. He’s taking full advantage.

“It wouldn't be unusual” for the Federal Reserve to work alongside private-sector operators in the creation of a U.S. real-time payments system, its chairman said.

The approach could work as long as the Fed were to add certain thresholds.

Federal Reserve Chairman Jerome Powell’s job is safe for now, according to Larry Kudlow, top economic adviser to President Donald Trump.

President Trump sharply criticized Jerome Powell in an interview aired Friday, blaming the Federal Reserve chairman for raising interest rates.