 | | | | The U.S. Federal Reserve should commit to letting economic booms run on enough to fully offset collapses like the 2007 to 2009 Great Recession, former Fed chair Janet Yellen said on Friday, urging the central bank to make "lower-for-longer" its official motto for interest rates following serious downturns. | | | | | | The Federal Reserve faces a "quite challenging" period in trying to keep the U.S. recovery on track amid a risk that low unemployment could lead to an overheated economy, former Fed chief Janet Yellen said on Friday. | | | | | | The appointment of Mary Daly as the second-ever woman to head up the San Francisco Federal Reserve makes plain that some regional central banks continue to make strides in creating a diverse leadership as criticism intensifies about the Fed's hiring policies while others fall behind. | | | | | | Mary Daly, a labor economist who dropped out of high school, later earned a PhD from Syracuse University, joined the San Francisco Fed's research department in 1996 and led it since 2017, was picked on Friday to be the bank's next president after a five-month search. | | | | | | U.S. stocks were flat on Friday after President Donald Trump instructed aides to proceed with tariffs on about $200 billion of Chinese products, while financial shares gained with bond yields. | | | | | | As a single mother with a British accent who loves numbers, Marianne Lake bears little resemblance to Jamie Dimon, the longtime chief executive of JPMorgan Chase & Co , known for his bravado, quips and occasional profanity-laced outbursts. | | | | | | U.S. House of Representatives Democratic Leader Nancy Pelosi on Friday warned the Trump administration that NAFTA should be maintained as a trilateral pact between the United States, Mexico and Canada and not just as a U.S.-Mexico arrangement. | | | | | | U.S. President Donald Trump has instructed aides to proceed with tariffs on about $200 billion more Chinese goods, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China, a source familiar with the decision said. | | | | | | Oil prices pulled back on Friday amid concerns additional U.S. tariffs would be placed on China, trading mixed after a rally triggered by worries of more sanctions on Iran. | | | | | | Allergan Plc said revenue from its medical aesthetics business could double by 2025, even as it faces increasing competition for its blockbuster wrinkle treatment, Botox. | | | | | |
