Economy News

Economy

Fed Chair Jerome Powell Asserts Robust US Economy Amid Inflation Concerns

Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee, affirming the US economy's strength and absence of recession. He discussed the economy's position...

Economy

Jerome Powell Asserts Federal Reserve Independence Amid Presidential Influence Concerns

Jerome Powell, Federal Reserve Chair, reaffirmed the Fed's independence and legal boundaries against presidential interference during a Senate Banking Committee meeting, emphasizin...

Economy

Jerome Powell Assures No Unauthorized Access to Fed Systems by Elon Musk or DOGE

Federal Reserve Chair Jerome Powell reassured the Senate Banking Committee that Elon Musk and his DOGE team have not attempted to access the Fed's protected systems, emphasizing th...

Economy

EIA Predicts Minimal Impact of Russian Oil Sanctions on Global Production Forecast

The EIA forecasts minimal impact from Russian oil sanctions on global production, with expected increases in liquid fuels production in 2025 and 2026. Global oil inventories are pr...

Economy

John Williams Asserts Current Monetary Policy Aims to Stabilize Inflation at 2%

Federal Reserve Bank of New York President John Williams discusses the current monetary policy's effectiveness in achieving maximum employment, ensuring price stability, and reduci...

Economy

John Williams Asserts Current Monetary Policy on Track to Achieve 2% Inflation Target

John Williams, President of the Federal Reserve Bank of New York, discusses the current monetary policy's effectiveness in achieving 2% inflation, emphasizing economic stability an...

Economy

EIA Predicts Minimal Impact on Oil Production Despite Russian Sanctions

The EIA forecasts minimal impact on global oil production from Russian sanctions, with a significant increase in production expected by 2026. Early 2025 may see decreased inventori...

Economy

Cleveland Fed President Hammack Expresses Uncertainty Over Inflation's Path to 2% Target

Cleveland Fed President Beth Hammack discusses the uncertainty of inflation reaching the 2% target, the cooling labor market's impact on wage growth, and the need to assess the eff...