Lael Brainard
FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve reports that the U.S. economy grew at a somewhat faster pace from early April to late May despite adverse effects from supply chain disruptions. The Fed’s latest survey of economic conditions around the nation released Wednesday, June 2 2021, said that several Fed districts reported positive effects on the economy from increased vaccination rates and relaxed social distancing measures. (AP Photo/Susan Walsh, Pool, File)
Delicate task for Fed: When to pull back on low-rate support

By Christopher Rugaber Jun. 14, 2021 01:18 PM EDT

Groceries are shown at a checkout counter, Friday, April 16, 2021, at a grocery store in Surfside, Fla. U.S. consumer prices surge 0.8% in April, pushing the rise in inflation over the past year to the fastest rate in more than a decade, an acceleration that has stirred worries about rising inflation. The Labor Department reported Wednesday, May 12, that the price consumers pay for their purchases of everything from food and clothes to new cars rose at a faster pace than last month’s 0.6% rise. (AP Photo/Wilfredo Lee)
Consumer prices shot up 0.8% in April as worries escalate

By Martin Crutsinger May. 12, 2021 09:38 AM EDT

FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. Powell says the economic outlook has “clearly brightened” in the United States but the recovery remains too uneven with lower income groups lagging behind. In a speech Monday, May 3, 2021 Powell cited a number of reasons that U.S. growth prospects have brightened. (AP Photo/Susan Walsh, Pool)
EXPLAINER: Why are fears of high inflation getting worse?

By Christopher Rugaber May. 11, 2021 05:02 PM EDT

FILE - In this June 14, 2018, file photo Federal Reserve Board Governor Lael Brainard participates in an open meeting in Washington. The Federal Reserve on Thursday, May 6, 2021, is warning that the U.S. financial system remains vulnerable to threats stemming from the global pandemic. Fed board member Brainard, who chairs the central bank's financial stability committee, said in a statement that the failure of Archegos “highlights the potential for nonbank financial institutions such as hedge funds and other leveraged investors to generate large losses in the financial system.” (AP Photo/Cliff Owen, File)
Fed warns high asset prices could make investors vulnerable

By Martin Crutsinger May. 06, 2021 04:37 PM EDT

Hotel housekeeper Esther Montanez poses outside the Hilton Back Bay, Friday, March 5, 2021, in Boston. Montanez refuses to give up hope of returning to her cleaning job at the hotel, which she held for six years until being furloughed since March 2020 due to the COVID-19 virus outbreak. (AP Photo/Charles Krupa)
Why the pandemic left long-term scars on global job market

By Paul Wiseman And Alexandra Olson Mar. 10, 2021 02:45 PM EST

FILE - In this May 7, 2020, file photo, a person looks inside the closed doors of the Pasadena Community Job Center in Pasadena, Calif., during the coronavirus outbreak. A state report released Tuesday, March 2, 2021, details the pandemic's toll on California workers and shines light on who was most affected by job losses and layoffs. (AP Photo/Damian Dovarganes, File)
US jobless claims tick up to 745,000 as layoffs remain high

By Paul Wiseman Mar. 04, 2021 08:37 AM EST

In this photo provided by the New York Stock Exchange, Thomas Ferrigno, center, and fellow traders work with specialist Meric Greenbaum, right, on the floor, Tuesday, March 2, 2021, in New York. Stocks are drifting lower in afternoon trading on Wall Street Tuesday, giving back some of their big gains from a day earlier. (Colin Ziemer/New York Stock Exchange via AP)
Stocks drift lower on Wall Street; yields continue to ease

By Stan Choe, Damian J. Troise And Alex Veiga Mar. 02, 2021 04:14 AM EST

In this photo provided by the New York Stock Exchange, traders work on the floor, Monday, March 1, 2021. Stocks are rising across the board on Wall Street as traders welcomed a move lower in long-term interest rates in the bond market. Investors were also watching Washington as a big economic stimulus bill moved to the Senate. (Courtney Crow/New York Stock Exchange via AP)
Asian stocks mixed after Wall St. rises

By Joe Mcdonald Mar. 01, 2021 02:09 AM EST

FILE - In this Dec. 1, 2020 file photo, Federal Reserve Chair Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill in Washington. Federal Reserve officials were convinced last month that the U.S. economy and job growth had slowed as coronavirus cases surged across the country. They noted that the economy's outlook is heavily dependent on the course of the virus. (Al Drago/The New York Times via AP, Pool)
Fed's Powell: Recovery incomplete, high inflation unlikely

By Christopher Rugaber And Martin Crutsinger Feb. 23, 2021 10:03 AM EST

FILE - In this Jan. 7, 2021 file photo, a "Help Wanted," sign is shown in the window of a souvenir shop in Miami Beach, Fla. Hiring has weakened for six straight months. Nearly 10 million jobs remain lost since the coronavirus struck. And this week, the Congressional Budget Office forecast that employment won’t regain its pre-pandemic level until 2024. (AP Photo/Wilfredo Lee)
Why US hiring could rebound faster than you might expect

By Christopher Rugaber Feb. 03, 2021 12:02 PM EST

Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Dec. 2, 2020. (Greg Nash/Pool via AP)
Powell signals Fed will keep aiding economy with bond buying

By Christopher Rugaber Jan. 14, 2021 02:28 PM EST

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington. Newly released transcripts show that many Federal Reserve officials had concerns in late 2015 over whether they were making a mistake in raising a key interest rate for the first time in nearly decade. Transcripts of their discussions, released Friday, Jan. 8, 2021 showed that the chief concern was whether the Fed would be acting prematurely in starting to raise rates given how low inflation was at the time. (AP Photo/Patrick Semansky, File)
Fed transcripts show doubts about need for 2015 rate hike

By Martin Crutsinger Jan. 08, 2021 12:31 PM EST

President-elect Joe Biden, accompanied by Vice President-elect Kamala Harris, speaks at The Queen theater, Thursday, Nov. 19, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)
Biden says he's decided on treasury secretary nomination

By Christopher Rugaber Nov. 19, 2020 07:08 PM EST

FILE - 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. Prospects for more federal stimulus this year appear all but dead, clouding the future for the unemployed, for small businesses and for the economy as a whole. (AP Photo/Gerald Herbert, File)
As virus resurges, so does fear of more economic pain ahead

By Christoper Rugaber Oct. 26, 2020 12:05 PM EDT

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 Oct. 21, 2020 06:53 PM EDT

FILE - In this Jan. 30, 2019, file photo, Federal Reserve Chairman Jerome Powell waits for a question from a reporter at a news conference in Washington. Federal Reserve policymakers will meet for two days beginning Tuesday, Sept. 15, 2020, for the first time since they significantly revised the Fed’s operating framework in ways that will likely keep short-term interest rates near zero for years to come. (AP Photo/Alex Brandon, File)
Federal Reserve to meet after sharp changes to its outlook

By Christopher Rugaber Sep. 15, 2020 12:01 AM EDT

FILE - In this June 10, 2020 file photo, a woman walks past a store with sale signs displayed at Great Lakes Mall, in Mentor, Ohio. The Federal Reserve says economic activity has picked up in most regions of the country but still remains well below pre-pandemic levels with the country facing high levels of uncertainty. The Fed reported Wednesday, July 15 that its latest survey of economic conditions around the country found improvements in consumer spending and other areas but said the gains were from very low levels seen when widespread lockdowns push the country into a deep recession. (AP Photo/Tony Dejak, File)
Fed survey says economy has picked up but outlook cloudy

By Martin Crutsinger Jul. 15, 2020 02:28 PM EDT

FILE- In this June 14, 2018, file photo Federal Reserve Board Governor Lael Brainard participates in an open meeting in Washington. Brainard warned Tuesday, July 14, 2020, that the U.S. economy appears to be slowing after an initial burst of recovery and called for the Fed to take aggressive steps to spur growth. (AP Photo/Cliff Owen, File)
Fed's Brainard warns US economy may slow, urges more support

By Christopher Rugaber Jul. 14, 2020 02:02 PM EDT

FILE - In this March 3, 2020, file photo, Federal Reserve Chair Jerome Powell pauses during a news conference, to discuss an announcement from the Federal Open Market Committee, in Washington. 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, May 21. (AP Photo/Jacquelyn Martin, File)
Fed's Powell says economic forecasts filled with uncertainty

By Martin Crutsinger May. 21, 2020 03:21 PM EDT