Central banking

FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve will issue the first loans under its groundbreaking Main Street Lending program in a “few days,” Powell said Friday, May 29. (AP Photo/Jacquelyn Martin)
1010 WINS Newsroom
May 29, 2020 - 2:21 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...
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A medical worker collects a swab sample from a journalist for a COVID-19 test before the National People's Congress closing session and the Chinese Premier press conference in Beijing, on Thursday, May 28, 2020. (AP Photo/Ng Han Guan)
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May 27, 2020 - 10:25 pm
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — US deaths from coronavirus surpass 100,000 mark. —...
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1010 WINS Newsroom
May 27, 2020 - 2:57 pm
WASHINGTON (AP) — The Federal Reserve detailed Wednesday what most of the nation is already acutely aware of: Economic activity fell sharply around the country in April and May as measures to combat the spread of the coronavirus outbreak took hold. Drawing on reports from its 12 regions, the Fed...
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In this image provided by the New York Stock Exchange, New York State Gov. Andrew Cuomo, center, applauds as he rings the opening bell of the New York Stock Exchange with with New York Stock Exchange President Stacey Cunningham, right, Tuesday, May 26, 2020 in New York. The NYSE allowed a limited number of traders back to the floor with social distancing guidelines and face masks. (Courtney Crow/New York Stock Exchange via AP)
1010 WINS Newsroom
May 26, 2020 - 4:48 pm
Stocks closed higher on Wall Street Tuesday, driving the S&P 500 and Dow Jones Industrial Average to their highest levels in nearly three months as optimism over the reopening of the economy overshadowed lingering worries about the coronavirus pandemic. The S&P 500 rose 1.2%, for a time...
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FILE - In this Aug. 7, 2019, file photo, Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India. India’s central bank on Friday, May 22, 2020, cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. Reserve Bank of India Governor Das also said India's gross domestic product in financial 2020-21 was expected to have negative growth. (AP Photo/Rajanish Kakade, File)
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May 22, 2020 - 11:04 am
NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate to 4% to counter the blow to the economy from the coronavirus pandemic and a lockdown meant to contain it. Reserve Bank of India Governor Shaktikanta Das forecast that the economy will contract in fiscal 2020-21. He did not...
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FILE - In this March 3, 2020, file photo, Federal Reserve Chair Jerome Powell pauses during a news conference, to discuss an announcement from the Federal Open Market Committee, in Washington. Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face “a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday, May 21. (AP Photo/Jacquelyn Martin, File)
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May 21, 2020 - 3:43 pm
WASHINGTON (AP) — Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face “a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday. Not only is there the difficulty predicting how the coronavirus pandemic will play out, it is also...
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In this Nov. 25, 2019 file photo Federal Reserve Bank of Boston President Eric Rosengren, left, speaks during a round table discussion at Silver Lane Elementary School, in East Hartford, Conn. (AP Photo/Steven Senne, file)
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May 20, 2020 - 4:28 pm
WASHINGTON (AP) — The president of a regional Federal Reserve bank that will oversee a groundbreaking business lending program said Wednesday that he thinks a slower-than-expected recovery from the economic downturn would lead companies to seek critical support from the program. In an interview...
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In this March 3, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference in Washington. Powell is pledging to reveal the names and other details of the entities that borrow from the emergency programs the central bank has set up to offset the economic hit from the viral outbreak. In prepared testimony for a Tuesday, May 19, 2020 congressional hearing, Powell says the central bank will disclose the amounts borrowed and the interest rates it levies under its programs to provide credit for large corporations, state and local governments, and medium-sized businesses. (AP Photo/Jacquelyn Martin, file)
1010 WINS Newsroom
May 19, 2020 - 3:44 pm
WASHINGTON (AP) — Facing the gravest U.S. economic crisis in decades, Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell offered Congress contrasting views Tuesday of what the government's most urgent priority should be. Striking a theme frequently pushed by President Donald...
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Treasury Secretary Steven Mnuchin speaks during a meeting with restaurant industry executives about the coronavirus response, in the State Dining Room of the White House, Monday, May 18, 2020, in Washington. (AP Photo/Evan Vucci)
1010 WINS Newsroom
May 19, 2020 - 3:01 am
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin will likely come under tough questioning from senators Tuesday about a small business lending program included in the government's $2 trillion relief package. Lawmakers from both parties have criticized the Payroll Protection Program, which...
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Treasury Secretary Steven Mnuchin wears a mask as he walks on the grounds of the White House, Thursday, May 14, 2020, in Washington. (AP Photo/Alex Brandon)
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May 18, 2020 - 5:43 pm
WASHINGTON (AP) — The Treasury Department and Federal Reserve have lent hardly any money under a $500 billion fund created by the economic rescue law passed in response to the coronavirus crisis, a congressional oversight panel says in a new report. The Treasury fund is being used to guarantee new...
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