U.S. Federal Reserve

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FILE - In this Tuesday, Dec. 1, 2020, file photo, Federal Reserve Chairman Jerome Powell, right, testifies before the Senate Banking Committee on Capitol Hill in Washington. Powell says the economic recovery from the coronavirus pandemic has progressed more quickly than expected. But still, he says the central bank does not intend to let up in its support efforts. (AP Photo/Susan Walsh, Pool, File)

Powell likens Fed’s pandemic response to British at Dunkirk

By MARTIN CRUTSINGER - Associated Press

Fed says restrictions on bank dividends and buybacks to end

By MARTIN CRUTSINGER - Associated Press

FILE - In this Feb. 5, 2021 file photo, Treasury Secretary Janet Yellen speaks during a virtual roundtable with participants from Black Chambers of Commerce across the country to discuss the American Rescue Plan in Washington. Yellen and Federal Reserve Chairman Jerome Powell say more needs to be done to limit the damage from the coronavirus pandemic and promote a full economic recovery. The two officials struck upbeat notes on the future of the economy in their prepared testimony Tuesday, March 23, before the House Financial Services Committee while cautioning that the economy still needs help. (AP Photo/Jacquelyn Martin, File)

Yellen, Powell say more needed to limit US economic damage

By MARTIN CRUTSINGER - Associated Press

In this Dec. 1, 2020, file photo, chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. (AP Photo/Susan Walsh, Pool, File)

Fed’s Powell: Public should understand risks of Bitcoin

By CHRISTOPHER RUGABER - Associated Press

FILE - The Federal Reserve is seen in Washington, in this Nov. 16, 2020 file photo. The Federal Reserve reported Monday, March 22, 2021, that it earned $88.6 billion in 2020 and paid back to the federal government $86.9 billion, the largest Fed payment to the government in four years. (AP Photo/J. Scott Applewhite, File)

Fed pays US Treasury $86.9 billion, largest sum in 4 years

By MARTIN CRUTSINGER - Associated Press

A man walks past the signs of an employment agency, Tuesday, March 2, 2021, in Manchester, N.H. The number of Americans seeking unemployment benefits rose last week to 770,000, a sign that layoffs remain high even as much of the U.S. economy is steadily recovering from the coronavirus recession. Thursday, March 18, report from the Labor Department showed that jobless claims climbed from 725,000 the week before. (AP Photo/Charles Krupa)

Survey: Business economists favor increased federal spending

By MARTIN CRUTSINGER - Associated Press

Powell says economy recovering but Fed support still needed

By MARTIN CRUTSINGER - Associated Press

FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve says it will restore capital requirements for large banks that were relaxed as part of the Fed’s efforts to shore up the financial system during the early days of the pandemic. The Fed said it will not extend the relief from the supplementary leverage ratio past March 31, 2021. (AP Photo/Susan Walsh, Pool)

Fed to end relaxed capital requirements for large banks

Associated Press

FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve says it will restore capital requirements for large banks that were relaxed as part of the Fed’s efforts to shore up the financial system during the early days of the pandemic. The Fed said it will not extend the relief from the supplementary leverage ratio past March 31, 2021. (AP Photo/Susan Walsh, Pool)

Powell: US economy gaining, but recovery ‘far from complete’

By MARTIN CRUTSINGER - Associated Press

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Wednesday, March 17, 2021. Asian shares were mixed Wednesday as world markets cautiously awaited the U.S. central bank's latest comments on how it views the economic picture. (AP Photo/Vincent Yu)

Wall Street closes higher after Fed says will keep rates low

By DAMIAN J. TROISE and ALEX VEIGA - Associated Press

In this Dec. 1, 2020, file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. (AP Photo/Susan Walsh, Pool, File)

Fed expects to keep its key rate near zero through 2023

By Christopher Rugaber and Martin Crutsinger - Associated Press

Text of the Federal Reserve’s statement after its meeting

Associated Press

FILE - In this May 13, 2020, file photo, Ford Motor Co., line workers put together ventilators that the automaker is assembling at the Ford Rawsonville plant in Ypsilanti Township, Mich. Severe winter weather pushed industrial production down a sharp 2.2% in February, reflecting a big decline in factory output. The Federal Reserve reported Tuesday, March 16, 2021, that the sharp fall in industrial output interrupted a string of positive gains beginning in October as U.S. factories were recovering from the pandemic-induced recession of last spring. (AP Photo/Carlos Osorio, File)

Icy weather sends industrial production down 2.2% last month

By MARTIN CRUTSINGER - Associated Press

In this Dec. 1, 2020, file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. (AP Photo/Susan Walsh, Pool, File)

New challenge for the Powell Fed: A strengthening economy

By CHRISTOPHER RUGABER - Associated Press

In this Dec. 13, 2017 file photo, Federal Reserve Chair Janet Yellen speaks during a news conference following the Federal Open Market Committee meeting in Washington. Yellen, the first woman to head the Federal Reserve and the U.S. Treasury Department, says women seeking to pursue careers in economics face a number of obstacles from the way beginning economics courses are taught to overly aggressive questioning questions in college seminars. “There is a cultural problem in the profession and we need to change the culture,” Yellen said Monday, March 8, 2021. (AP Photo/Carolyn Kaster, File)

Yellen says women face many obstacles in economics careers

By MARTIN CRUTSINGER - Associated Press

FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. Borrowing by Americans fell in January 2021 for the first time in five months, as a big drop in the use of credit cards offset increases in auto loans and student loans. The Federal Reserve reported Friday, March 5, 2021 that consumer borrowing fell by $1.3 billion in January, the first setback since a $9 billion decline in August. (AP Photo/Jenny Kane, File)

Credit card borrowing falls to lowest in level in 4 years

By MARTIN CRUTSINGER - Associated Press

FILE - In this Tuesday, Feb. 16, 2021, file photo, American flags hang outside of the New York Stock Exchange in New York. Optimism for an economic revival is surging following a year of coronavirus-induced misery. But expectations for stronger growth, plus the higher inflation that could accompany it, are pushing interest rates higher, which is forcing investors to re-examine how they value every other investment. (AP Photo/Frank Franklin II, File)

EXPLAINER: Why rising rates are unsettling Wall Street

By STAN CHOE and ALEX VEIGA - Associated Press

In this Dec. 1, 2020, file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. (AP Photo/Susan Walsh, Pool, File)

Powell: Higher inflation temporary, no rate hikes in sight

By CHRISTOPHER RUGABER - Associated Press

‘Operational error’ causes Fed payment system to crash

By KEN SWEET - Associated Press

People wearing protective masks walk in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Wednesday, Feb. 24, 2021, in Tokyo. Shares fell in Asia on Wednesday as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. (AP Photo/Eugene Hoshiko)

Asian stocks follow Wall Street higher after Fed pledge

By JOE McDONALD - Associated Press