U.S. Federal Reserve

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FILE - In this Tuesday Feb. 11, 2020 file photo, Christine Lagarde president of the ECB looks up prior to deliver her speech before the European Parliament's economic and monetary affairs committee at the European Parliament in Strasbourg, France. Lagarde says on Wednesday, Nov. 11, the recovery could be bumpy until vaccination becomes widespread. That warning came in a speech at an online ECB conference. While recent news of vaccine tests is promising, Lagarde says the economy could face recurring cycles of growth and restrictions until enough people can be vaccinated. (AP Photo/Jean-François Badias, File)

Top central bankers: Economy needs help despite vaccine news

By DAVID McHUGH - Associated Press

In this Friday, March 27, 2020, file photo, a man walks past the closed Cafe Du Monde restaurant in the French Quarter of New Orleans. (AP Photo/Gerald Herbert, File)

For Biden, how to help mangled economy is next obstacle

By JOSH BOAK - Associated Press

FILE - In this Sept. 2, 2020 file photo, a customer wears a face mask as they carry their order past a now hiring sign at an eatery in Richardson, Texas. On Thursday, Nov. 5, the number of Americans seeking unemployment benefits fell slightly last week to 751,000, a still-historically high level that shows that many employers keep cutting jobs in the face of the accelerating pandemic. (AP Photo/LM Otero, File)

Hiring held last month but signs of caution as virus worsens

By CHRISTOPHER RUGABER - Associated Press

FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. U.S. consumers increased their borrowing in September 2020, helped by the first gain in the category that covers credit cards in seven months. The Federal Reserve Reserve reported that total borrowing rose by $16.2 billion in September, rebounding after a drop of $6.9 billion in August. (AP Photo/Jenny Kane, File)

US consumer borrowing up $16.2 billion in September

By MARTIN CRUTSINGER - Associated Press

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed signals readiness to do more for economy as virus rages

By MARTIN CRUTSINGER - Associated Press

Text of the Federal Reserve’s statement after its meeting

Associated Press

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed confronts a shaky US economy that likely needs more help

By MARTIN CRUTSINGER - Associated Press

Virginia women, others leave workforce amid pandemic

By COLLEEN CURRAN and Richmond Times-Dispatch - Associated Press

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington. A Federal Reserve survey of business conditions around the country has found that the U.S. economy grew at a “slight to modest” pace in September 2020 and early October. (AP Photo/Patrick Semansky, File)

Federal Reserve expands Main Street program to smaller firms

By CHRISTOPHER RUGABER - Associated Press

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington. A Federal Reserve survey of business conditions around the country has found that the U.S. economy grew at a “slight to modest” pace in September 2020 and early October. (AP Photo/Patrick Semansky, File)

Fed survey finds tepid growth as US economy battles pandemic

By MARTIN CRUTSINGER - Associated Press

Barcelona's Lionel Messi walks during the Spanish La Liga soccer match between FC Barcelona and Sevilla FC at the Camp Nou stadium in Barcelona, Spain, Sunday, Oct. 4, 2020. (AP Photo/Joan Monfort)

AP Interview: Barça VP says Messi never was for sale

By JOSEPH WILSON - Associated Press

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed officials cited risks if Congress fails to pass more aid

By MARTIN CRUTSINGER - Associated Press

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed’s Powell: Lack of further stimulus imperils recovery

By CHRISTOPHER RUGABER - Associated Press

Federal Reserve extends ban on big bank dividends, buybacks

By KEN SWEET - Associated Press

Federal Reserve Chair Jerome Powell testifies during a House Select Subcommittee on the Coronavirus Crisis hearing on Capitol Hill in Washington on Wednesday, Sept. 23, 2020. (Kevin Dietsch/Pool via AP)

Powell faces lawmakers’ skepticism on some Fed aid programs

By MARTIN CRUTSINGER - Associated Press

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York. Stocks are slipping in early trading on Wall Street Thursday, Aug. 20, following discouraging data about the economy, as the number of layoffs sweeping the country picks up again. The S&amp;P 500 was down 0.2% after the first 20 minutes of trading, following up on sharper losses for stock markets overseas. (AP Photo/Mary Altaffer, File)

Soaring wealth during pandemic highlights rising inequality

By CHRISTOPHER RUGABER - Associated Press

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington. The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come. The Fed on Wednesday, Sept. 16, also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March. (Bill O'Leary/The Washington Post via AP, Pool)

Powell: Many small companies can borrow without Main Street

By CHRISTOPHER RUGABER - Associated Press

Judy Shelton Illustration by Greg Groesch/The Washington Times

Senators must stop anti-Trump foolishness and confirm Judy Shelton’s Fed nomination

By Richard W. Rahn

FILE - In this file photo dated Thursday, Oct. 30, 2003, U.S. Fed Cup members from left, Martina Navrartilova, Lisa Raymond, Meghann Shaughnessy, Alexandra Stevenson and Fed Cup Captain Billie Jean King, accept a replica of the Betsy Ross Flag at the Advanta Championships, in VIllanova, USA. The Fed Cup is changing its name to honour tennis great Billie Jean King, becoming The Billie Jean King Cup, the first major global team competition to be named after a woman, it is announced Thursday Sept. 17, 2020.(AP Photo/Miles Kennedy, FILE)

Fed Cup changes name to honor tennis great Billie Jean King

By KEN MAGUIRE - Associated Press

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington. The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come. The Fed on Wednesday, Sept. 16, also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March. (Bill O'Leary/The Washington Post via AP, Pool)

Fed sees rates near zero through 2023, perhaps longer

By CHRISTOPHER RUGABER - Associated Press