WASHINGTON (AP) — The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment.
JACKSON HOLE, Wyoming (AP) — When officials of the Federal Reserve Bank of Kansas City sought a location for an annual economic symposium in 1982, they chose Jackson Hole, Wyoming, for a simple reason: It had fly-fishing.
WILMINGTON, Del. (AP) — Former Federal Reserve Chair Janet Yellen was among a team of advisers who briefed Joe Biden on Thursday about the economic fallout from the coronavirus...
Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office...
WASHINGTON (AP) — In a strong rebuke to President Donald Trump, the four living former leaders of the Federal Reserve say that the head of the nation's central bank should be able to make interest-rate decisions free of political pressure and the threat of being removed or demoted...