Federal Reserve System

A weak month for hiring as unemployment drops

A weak month for hiring as unemployment drops

The weakest month of hiring in three years ended 2013 on a sluggish note and raised questions about whether the U.S. job market can sustain its recent strong gains. Employers added a scant 74,000 jobs in December after averaging 214,000 in the previous four months. Economists cautioned that cold weather likely played a role in […]

Senate confirms Janet Yellin as new chairman of The Fed

Senate confirms Janet Yellin as new chairman of The Fed

The Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank’s efforts to spur the economy with low interest rates and massive bond purchases. Yellen, 67, will replace Ben Bernanke, who is stepping down after serving as […]

Obama nominates Janet Yellen to head the Federal Reserve

Obama nominates Janet Yellen to head the Federal Reserve

In a history-making selection, President Barack Obama nominated Janet Yellen to be chairman of the Federal Reserve, a critical post as the nation continues its fitful economic recovery. If confirmed she would be the first woman to lead the powerful central bank. Yellen, who currently holds the No. 2 spot at the Fed, would replace […]

Job growth could cause scaleback of stimulus

Job growth could cause scaleback of stimulus

U.S. job creation probably picked up in August, signalling a steady pace of economic growth that would give the Federal Reserve ammunition to start scaling back its massive monetary stimulus this month. Employers are expected to have added 180,000 jobs to payrolls last month after creating 162,000 in July, according to a Reuters survey of […]

So, what will the future economy be? Who knows?

So, what will the future economy be? Who knows?

Politicians and economists are straining to get a clearer view of what the economy will look like a year from now, when midterm political campaigns are heating up. Republicans see the glass as half-empty; Democrats view it as half-full. And the economists aren’t sure. “Our economy is recovering at the slowest rate since World War […]