Armored truck heist in Chicago Loop ends with suspect shot and cash recovered
CHICAGO – A 23-year-old man was charged in federal court Friday after allegedly attacking an armored truck driver and stealing a bag of cash during a brazen daylight robbery in the Loop.…
Fed’s Bostic says can do “maybe two, maybe three” half point hikes, then assess
WASHINGTON -The U.S. Federal Reserve can stick to half point interest rate hikes for the next two to three meetings then assess how the economy and inflation are responding before deciding whether…
In more ways than one, Fed’s Powell showed his strategy this week
By Howard Schneider WASHINGTON – With a war in Europe underway, a pandemic still locking down parts of the global economy and financial markets having turned sharply volatile, the U.S. economic outlook…
Explainer-The Fed’s new ‘QT’ plan takes shape
By Dan Burns (Reuters) – The Federal Reserve on Wednesday said it will start culling assets from its $9 trillion balance sheet in June and will do so at nearly twice the…
Fed’s Powell: 75 basis point rate hike not being ‘actively considered’
(Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said central bank officials are not “actively” considering a rate hike of three-quarters of a percentage point at coming monetary policy meetings. “A…
Feds Indict Two Philadelphia Men for Carjacking Spree in Philadelphia and Delaware Counties
PHILADELPHIA – United States Attorney Jennifer Arbittier Williams announced that Tarik Chambers, 20, and Nikeem Leach-Hilton, 22, both of Philadelphia, PA were charged by Indictment with conspiracy, three counts of carjacking, three…
Fed’s Brainard confirmation set to move step closer, others wait in wings
(Reuters) – One of President Joe Biden’s key nominees to the Federal Reserve, Lael Brainard, is set to move a step closer to confirmation on Monday, with the possibility she and three…
Fed’s Mester wants ‘methodical’ rate hikes, not giant ones
(Reuters) – Cleveland Federal Reserve Bank President Loretta Mester on Friday pushed back against market expectations that the Fed will use outsized hikes to help bring down inflation, saying she prefers a…
Fed’s Daly: Case for half-percentage-point hike in May is ‘complete’
(Reuters) – San Francisco Federal Reserve President Mary Daly on Wednesday said she believes the case for a half-percentage-point interest rate hike next month is “complete” and “solid,” with the U.S. central…
Fed’s Daly sees U.S. inflation at 2% goal in five years
(Reuters) – San Francisco Federal Reserve President Mary Daly on Wednesday said it’s unlikely inflation will fall to 2% this year, but she does expect it to start dropping and to be…
Fed’s Evans repeats view he sees interest rates at neutral rate by year end
(Reuters) – The U.S. Federal Reserve should proceed sensibly in raising interest rates as it waits to see if special factors pushing up inflation begin to recede, Chicago Federal Reserve President Charles…
Raising Fed’s policy rate to 2.5% by end of 2022 is ‘prudent,’ Daly says
(Reuters) – San Francisco Federal Reserve President Mary Daly on Wednesday said she supports getting the U.S. central bank’s benchmark overnight interest rate up to about 2.5% by the end of the…
Fed’s Bostic says slowing global growth a reason for Fed to be “cautious” – CNBC
WASHINGTON – The potential for a global economic slowdown is reason for the Fed “to be cautious” as it raises interest rates in coming months, Atlanta Fed president Raphael Bostic said in…
Feds won’t charge ex-Chicago police officer in 2014 shooting of Black teen
By Dan Whitcomb (Reuters) – Federal prosecutors said on Monday they would not bring charges against the former Chicago police officer convicted in state court of killing Black teenager Laquan McDonald in…
Fed’s Bullard wants to get rates up to 3.5% by year end
(Reuters) – U.S. inflation is “far too high,” St. Louis Federal Reserve Bank President James Bullard said on Monday as he repeated his case for increasing interest rates to 3.5% by the…
Feds Say Ocean County Landscaper Exploited and Underpaid Mexican Workers
BAYVILLE, NJ – An Ocean County landscaping company has been ordered to pay 47 migrant workers a total of $181,670 in back wages after a judge ruled the company was shortchanging its…
Explainer-Michael Barr faces long to-do list as the U.S. Fed’s next Wall Street cop
By Pete Schroeder WASHINGTON – U.S. President Joe Biden on Friday said he would nominate former Treasury official Michael Barr to be the Federal Reserve’s Wall Street cop, replacing Sarah Bloom Raskin,…
Fed’s Mester says it’s ‘imperative’ to get inflation down
(Reuters) – Cleveland Federal Reserve Bank President Loretta Mester on Thursday pushed back against the idea that by raising interest rates the Fed is prioritizing its goal of achieving 2% inflation over…
Fed’s Barkin says interest rates should be moved rapidly to neutral
(Reuters) – The U.S. Federal Reserve should quickly get interest rates up to a level where borrowing costs will no longer be stimulating the economy, and should raise them further if high…
Cleveland Fed’s Mester says inflation elevated through 2023 but trajectory will fall – CBS
WASHINGTON – Inflation will remain high this year and next even as the Fed moves steadily to lower the pace of price increases, Cleveland Fed president Loretta Mester said Sunday in an…
Feds Charge Eight Suspected Carjackers Tied to Multiple Offenses in Violent Crimes Across Philadelphia Region
PHILADELPHIA – United States Attorney Jennifer Arbittier Williams, together with federal, state and local law enforcement officials, announced that six defendants were arrested and charged with federal carjacking and other violent crimes…
Fed’s Harker: “methodical” policy tightening designed to avert recession
(Reuters) – The U.S. Federal Reserve aims to tighten monetary policy in a methodical way that keeps the economic expansion intact, Philadelphia Federal Reserve President Patrick Harker said on Wednesday. “We’ve committed…
Minutes of Fed’s March meeting seen detailing a speedy balance sheet rundown
By Howard Schneider WASHINGTON – U.S. Federal Reserve officials on Wednesday will release more details on what’s evolving as a three-year plan to trim several trillion dollars from the stash of assets…
Fed’s Daly sees slower growth, but no recession ahead
(Reuters) – Interest rate hikes aimed at bringing down too-high inflation will slow economic growth but will not tip the U.S. economy into recession, San Francisco Federal Reserve Bank President Mary Daly…
Fed’s Evans sees 7 rate hikes this year, but says that could change
By Ann Saphir (Reuters) – Chicago Federal Reserve President Charles Evans on Friday repeated his view that the U.S. central bank will likely need to make seven quarter-of-a-percentage-point interest rate hikes this…
Fed’s George puts neutral rate of around 2.5% “as a starting point”
WASHINGTON – Kansas City Fed president Esther George said she estimates a neutral rate of interest for the U.S. at about 2.5% “as a starting point” of what the Fed should aim…
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