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Added on the 19/06/2019 08:59:53 - Copyright : Wochit
President-elect Joe Biden is planning to nominate Janet Yellen to head the Treasury Department. Business Insider reports if the US Senate confirms Yellen, she will be the first woman to hold the job. Yellen served as Fed Chair during President Barack Obama's second term, from 2014 to 2017. President Donald Trump replaced her with Jerome Powell as head of the Fed. If confirmed, Yellen will face an immense set of challenges, including the pandemic, unemployment, and widespread housing and food insecurity. With both parties fiercely divided on its size and reach for months, Congress still hasn't approved a second coronavirus economic aid package.
Investors went shopping for stocks after the Fed decided to hold interest rates steady. But as Fred Katayama reports, the central bank said the case for a rate hike has strengthened.
Stocks rose on Wednesday after minutes from the Fed's most recent meeting indicated they would hold back on raising rates soon. Bobbi Rebell reports.
"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE
US Secretary of State Antony Blinken says that the country's ambassador in Moscow, Lynne Tracy, was able to visit Wall Street Journal reporter Evan Gershkovich in prison. "I can report based on what Ambassador Tracy has said that he's in good health and good spirits, considering the circumstances. We continue to call for his immediate release from this unjust detention," Blinken told reporters in Japan after G7 talks. SOUNDBITE
New York, Oct 15 (EFE / EPA) .- (CAMERA: Justin Lane) Wall Street opened Friday in green and the Dow Jones of Industrialists, its main indicator, rose 0.83% encouraged by the quarterly reports from large US banks.
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