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Added on the 03/05/2019 16:59:58 - Copyright : Wochit
Republican White House contender Donald Trump on Tuesday accused the U.S. Federal Reserve of keeping interest rates low at the request of President Barack Obama's administration. Rough Cut (no reporter narration).
Federal Reserve Chair Janet Yellen announces that interest rates will be left unchanged but signals that the U.S. central bank still plans two hikes this year. Rough Cut (no reporter narration).
The U.S. central bank's policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25 percent and 0.50 percent, which Fed Chair Janet Yellen said marks the end of an extraordinary seven year period to support the economy's recovery. Rough Cut (no reporter narration).
The US Federal Reserve has voted to hold interest rates at a 22-year high for a second straight meeting. "Today we decided to leave our policy interest rate unchanged," announces Fed chair Jerome Powell. SOUNDBITE
US Federal Reserve Chair Jerome Powell announces that the US Federal Reserve has voted to keep interest rates at a 22-year high, between 5.25 percent and 5.50 percent. SOUNDBITE
Fed Chair Jerome Powell announces a quarter-point raise in the US Federal Reserve's benchmark lending rate, "in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to two percent over time." SOUNDBITE
Fed Chair Jay Powell warned on Tuesday that the US economy would suffer if another stimulus package isn't passed, which remains stalled in Congress. House Democrats passed a $2.2 trillion stimulus plan earlier this month, but Sen. Majority Leader Mitch McConnell (R-Ky.) called the amount 'outlandish.' Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses. Jay Powell Chair, US Federal Reserve But according to Business Insider, White House economic advisor Larry Kudlow said Sunday that he doesn't agree with that assessment. We are in a strong rebound. Businesses are reopening. We are learning to deal with the virus in a targeted, safe, prevented way. White House Economic Adviser Larry Kudlow Interview, CNN's 'State of the Union'