Central banking

Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, while discussing an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic activity." (AP Photo/Jacquelyn Martin)
1010 WINS Newsroom
March 15, 2020 - 8:48 pm
WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds. The Fed’s surprise announcement signaled its...
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The display board with the curve of the DAX photographed behind a pictogram for a fire extinguisher in the trading room of the Stock Exchange in Frankfurt, Germany, Thursday, March 12, 2020. This was again triggered by concerns about the economic consequences of the coronavirus pandemic. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (Boris Roessler/dpa via AP)
1010 WINS Newsroom
March 15, 2020 - 12:37 pm
FRANKFURT, Germany (AP) — When the global economy melted down in 2008, world leaders swiftly created an international forum to boost economies by spending more and keeping trade open. Central banks announced rate cuts within seconds of each other. But so far, nations' approach to the economic shock...
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President Donald Trump speaks during a news conference about the coronavirus in the James Brady Briefing Room at the White House, Saturday, March 14, 2020, in Washington. (AP Photo/Alex Brandon)
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March 14, 2020 - 9:21 pm
WASHINGTON (AP) — President Donald Trump said Saturday he had the power to fire or demote Federal Reserve Chairman Jerome Powell, adding new fuel to his long-running animus toward the central bank’s leader at a moment when the economy was at risk of edging into recession. Trump told reporters that...
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A broker watches his screens at the stock market in Frankfurt, Germany, Friday, March 13, 2020. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Michael Probst)
1010 WINS Newsroom
March 13, 2020 - 2:19 pm
WASHINGTON (AP) — The Federal Reserve and the European Central Bank have taken large steps this week to try to calm financial markets and restore some degree of confidence. So far, it hasn't quite worked. The central banks are facing a crisis only partly responsive to the medicine they can provide...
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A Thai investor checks an electronic board showing stock prices at Asia Plus Securities, a private stock trading floor, in Bangkok, Thailand, Friday, March 13, 2020. Shares plunged in Asia on Friday, with benchmarks in Japan, Thailand and India sinking as much as 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. (AP Photo/Sakchai Lalit)
1010 WINS Newsroom
March 13, 2020 - 10:23 am
The Latest on financial markets: German ship operator Aida Cruises says it is suspending all of its cruises due to “massive restrictions” being implemented in response to the COVID-19 pandemic. The Rostock-based company told The Associated Press on Friday that it would be suspending all cruises...
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A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, March 13, 2020. Shares have plunged in Asia, with Japan’s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. (AP Photo/Eugene Hoshiko)
1010 WINS Newsroom
March 13, 2020 - 12:30 am
BANGKOK (AP) — Shares plunged in Asia on Friday, with benchmarks in Japan, Thailand and India sinking as much as 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and...
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Traders Edward Curran, left, and Jonathan Mueller work on the floor of the New York Stock Exchange, Thursday, March 12, 2020. The deepening coronavirus crisis is sending stocks into another alarming slide on Wall Street, triggering a brief, automatic shutdown in trading for the second time this week. (AP Photo/Richard Drew)
1010 WINS Newsroom
March 12, 2020 - 2:58 pm
WASHINGTON (AP) — The Federal Reserve moved Thursday to try to ease disruptions in the financial markets stemming from the coronavirus by announcing that it will sharply increase its purchases of short-term Treasury bonds. The Fed said it's making available at least $2 trillion in short-term...
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President of European Central Bank Christine Lagarde looks up prior to a press conference following a meeting of the ECB governing council in Frankfurt, Germany, Thursday, March 12, 2020. (AP Photo/Michael Probst)
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March 12, 2020 - 1:40 pm
FRANKFURT, Germany (AP) — The European Central Bank deployed targeted new stimulus measures to cushion the shock to the economy from the virus outbreak, but its president said monetary policy couldn't do it alone and called for a "decisive and determined” response from governments. ECB President...
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FILE - In this Aug. 27, 2013, file photo, workers load large containers of nectarines for sorting at Eastern ProPak Farmers Cooperative in Glassboro, N.J. U.S. wholesale prices fell 0.6% in February 2020, the biggest decline in five years, led by a sharp drop in energy costs. The Labor Department said the decline in its producer price index, which measures price pressures before they reach the consumer, followed a 0.5% rise in January. It was the sharpest decline since a similar 0.6% drop in January 2015. (AP Photo/Mel Evans, File)
1010 WINS Newsroom
March 12, 2020 - 8:49 am
WASHINGTON (AP) — U.S. wholesale prices fell 0.6% in February, the biggest decline in five years, led by a sharp drop in energy costs. The Labor Department said the decline in its producer price index, which measures price pressures before they reach the consumer, followed a 0.5% rise in January...
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Trader Michael Gallucci works at his post on the floor of the New York Stock Exchange, Wednesday, March 11, 2020. Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus. (AP Photo/Richard Drew)
1010 WINS Newsroom
March 11, 2020 - 11:52 pm
TOKYO (AP) — Asian shares plunged Thursday after the World Health Organization declared a coronavirus pandemic and indexes sank on Wall Street. Japan's benchmark Nikkei 225 dived 4.2% in morning trading to 18,591.01. Australia's S&P/ASX 200 dropped 5.3% to 5,420.70. South Korea's Kospi dipped 3...
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