Central banking

FILE -- In this Thursday, March 12, 2020 file photo the President of European Central Bank Christine Lagarde looks up prior to a press conference following a meeting of the ECB governing council in Frankfurt, Germany. The European Central Bank has boosted its pandemic emergency support program by 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus outbreak. (AP Photo/Michael Probst, file)
June 04, 2020 - 9:03 am
FRANKFURT, Germany (AP) — The European Central Bank has boosted its pandemic emergency support program by an unexpectedly large 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus...
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June 03, 2020 - 2:06 pm
WASHINGTON (AP) — The Federal Reserve has approved an expansion of its $500 billion emergency program to support state and local governments. The expansion will allow all states to have at least two cities or counties eligible to tap the Fed support program regardless of population. The Fed board...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve will issue the first loans under its groundbreaking Main Street Lending program in a “few days,” Powell said Friday, May 29. (AP Photo/Jacquelyn Martin)
May 29, 2020 - 2:21 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...
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A medical worker collects a swab sample from a journalist for a COVID-19 test before the National People's Congress closing session and the Chinese Premier press conference in Beijing, on Thursday, May 28, 2020. (AP Photo/Ng Han Guan)
May 27, 2020 - 10:25 pm
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — US deaths from coronavirus surpass 100,000 mark. —...
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Workers build a protective barrier as construction resumed on the New York Islanders' new arena, located adjacent to Belmont race track, during the current coronavirus outbreak, Wednesday, May 27, 2020, in Elmont, N.Y. Long Island became the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it entered the first phase of the state's four-step reopening process. Gov. Andrew Cuomo announced Tuesday that Nassau and Suffolk counties could begin reopening parts of their economy after nonessential businesses were shuttered for two months. (AP Photo/Kathy Willens)
May 27, 2020 - 4:17 pm
WASHINGTON (AP) — Businesses across the country surveyed by the Federal Reserve don’t appear to share the Trump administration's optimism about a rapid economic recovery starting this summer. The Federal Reserve released a report Wednesday that draws on business contacts from the central bank's 12...
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FILE - In this Aug. 7, 2019, file photo, Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India. India’s central bank on Friday, May 22, 2020, cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. Reserve Bank of India Governor Das also said India's gross domestic product in financial 2020-21 was expected to have negative growth. (AP Photo/Rajanish Kakade, File)
May 22, 2020 - 11:04 am
NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate to 4% to counter the blow to the economy from the coronavirus pandemic and a lockdown meant to contain it. Reserve Bank of India Governor Shaktikanta Das forecast that the economy will contract in fiscal 2020-21. He did not...
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A woman rides an empty subway Thursday, May 21, 2020, in Tokyo. Tokyo is still under a coronavirus state of emergency until the end of May though there have been no hard lockdowns. (AP Photo/Eugene Hoshiko)
May 21, 2020 - 11:45 pm
TOKYO (AP) — Japan's central bank said Friday it will provide some 30 trillion yen ($280 billion) to banks for financing small and medium-size businesses battling economic hardships brought on by the coronavrius pandemic. The Bank of Japan will start providing funding to the banks in June, it said...
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May 21, 2020 - 3:21 pm
WASHINGTON (AP) — Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face “a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday. Not only is there the difficulty predicting how the coronavirus pandemic will play out, it is also...
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In this Nov. 25, 2019 file photo Federal Reserve Bank of Boston President Eric Rosengren, left, speaks during a round table discussion at Silver Lane Elementary School, in East Hartford, Conn. (AP Photo/Steven Senne, file)
May 20, 2020 - 4:28 pm
WASHINGTON (AP) — The president of a regional Federal Reserve bank that will oversee a groundbreaking business lending program said Wednesday that he thinks a slower-than-expected recovery from the economic downturn would lead companies to seek critical support from the program. In an interview...
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In this March 3, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference in Washington. Powell is pledging to reveal the names and other details of the entities that borrow from the emergency programs the central bank has set up to offset the economic hit from the viral outbreak. In prepared testimony for a Tuesday, May 19, 2020 congressional hearing, Powell says the central bank will disclose the amounts borrowed and the interest rates it levies under its programs to provide credit for large corporations, state and local governments, and medium-sized businesses. (AP Photo/Jacquelyn Martin, file)
May 19, 2020 - 4:13 pm
WASHINGTON (AP) — Facing the gravest U.S. economic crisis in decades, Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell offered Congress contrasting views Tuesday of what the government's most urgent priority should be. Striking a theme frequently pushed by President Donald...
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