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Articles on US Federal Reserve

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All eyes are on Fed Chair Jerome Powell as the central bank prepares to raise rates for the first time in three years. Brendan Smialowski/Pool via AP

Federal Reserve plans to raise interest rates ‘soon’ to fight inflation: What that means for consumers and the economy

The US central bank said surging inflation is guiding its decision about when to lift interest rates. Two experts on financial markets explain what might happen next.
Biden reappointed Jerome Powell, seated at left, to head the Fed. Some progressives wanted him replaced with Lael Brainard, seated right. AP Photo/Manuel Balce Ceneta

Jerome Powell keeps his job at the Fed, where he’ll be responsible for preventing inflation from spiraling out of control – without tanking the economy

After weeks of mulling, Biden decided to give Powell another term as Fed chair, which means he will have more influence over the trajectory of inflation than anyone else.

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