Central banking

AP Illustration/Peter Hamlin;
July 23, 2020 - 3:32 am
Why are coins hard to find during the pandemic? The Federal Reserve has seen a significant decline of coins in circulation because people are not spending them as regularly at businesses, many of which are either temporarily closed or not accepting cash. Coins are still plentiful. In April, the U.S...
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FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. In a shift, the Senate Banking Committee is likely to back President Donald Trump's unconventional nomination of Shelton for the Federal Reserve's Board of Governors in a party-line vote Tuesday, July 21. (AP Photo/J. Scott Applewhite, File)
July 21, 2020 - 3:01 pm
WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed. Committee Chairman Sen. Mike Crapo, Republican of...
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Treasury Secretary Steven Mnuchin speaks during a House Small Business Committee hearing on oversight of the Small Business Administration and Department of Treasury pandemic programs on Capitol Hill in Washington, Friday, July 17, 2020. (Erin Scott/Pool via AP)
July 17, 2020 - 8:04 pm
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin urged Congress Friday to quickly enact a new pandemic relief package targeting hardest-hit swaths of the economy, as lawmakers race to stand up federal aid in the face of the latest spike in coronavirus cases across much of the Sun Belt and...
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At sunset, the sky above the Frankfurt skyline and the water of the river Main are colored deep red, Friday, June 19, 2020, in Frankfurt, Germany. (Arne Dedert/dpa via AP)
July 16, 2020 - 10:33 am
FRANKFURT, Germany (AP) — The European Central Bank hit pause Thursday after deploying massive stimulus measures in recent weeks and urged government leaders to do their part by agreeing on an EU-wide fund to support regions hardest hit by the virus outbreak. ECB President Christine Lagarde said...
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July 10, 2020 - 2:48 pm
WASHINGTON (AP) — The Federal Reserve said Friday that it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds. The Fed bought bonds issued by several hundred large companies, including AT...
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July 03, 2020 - 1:10 pm
KYIV, Ukraine (AP) — Ukraine’s parliament on Friday accepted the resignation of the country’s top banker, who has stepped down citing political pressure. National Bank head Yakiv Smolii submitted his letter of resignation Wednesday, pointing at “systematic political pressure” as the reason for his...
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FILE - In this March 12, 2020 file photo, Venezuelan President Nicolas Maduro speaks during a press conference at the Miraflores Presidential Palace in Caracas, Venezuela. A British judge on Thursday July 2, 2020, refused to give Venezuela control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the President Nicolas Maduro since Britain does not recognize him as the president. Maduro has demanded the gold to help his cash-starved nation fight the coronavirus pandemic. (AP Photo/Matias Delacroix, File)
July 02, 2020 - 9:15 am
LONDON (AP) — A British judge on Thursday refused to give Venezuela's Nicolás Maduro control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the socialist leader since Britain does not recognize him as president of the Latin American nation...
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June 29, 2020 - 6:10 pm
WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set...
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June 29, 2020 - 4:51 pm
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. “A full recovery is unlikely until people...
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FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. The Federal Reserve said on Thursday, June 25, 2020, a worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion. To bolster the banks ahead such a potentially damaging recession, the Fed ordered the banks to suspend stock buybacks and dividend payouts until Sept. 30. (AP Photo/Steven Senne)
June 25, 2020 - 11:38 pm
NEW YORK (AP) — A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday. To bolster the banks ahead of such a potentially damaging recession, the Fed ordered...
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