Shoppers walk past a Saks Fifth Avenue outlet store in Miami on Black Friday. Millennials have lower earnings, fewer assets and less wealth, a new Federal Reserve study says.
In a speech to the Economic Club of New York on Wednesday, Federal Reserve Chairman Jerome Powell said interest rates are just below the range of estimates that would be "neutral" for the economy.
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Federal Reserve Board Chairman Jerome Powell, seen before a Senate committee hearing in July. The Fed announced another interest rate bump Wednesday on the strength of a healthy economy.
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Workers weld drawers on the assembly line at the Metal Box International toolbox factory in Franklin Park, Ill. Many analysts estimate that U.S. economic growth picked up in the second quarter.
President Trump looks on as his nominee for Federal Reserve chairman, Jerome Powell, speaks at the White House on Nov. 2. On Thursday, Trump said he is "not thrilled" about Fed interest rate hikes.
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Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Chicago on April 6. The central bank raised a key short-term rate by a quarter-point on Wednesday, the second increase this year.
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A volunteer cleans up needles used for drug injection that were found at a homeless encampment in Everett, Wash., in November. Respondents in a Federal Reserve survey who knew someone who had been addicted to opioids were less likely to give the economy a favorable rating.
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Federal Reserve Board Chairman Jerome Powell testifies during a Senate banking committee hearing in Washington, D.C., on March 1. This week, Powell presided over a Fed policy meeting for the first time since becoming chairman.
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Federal Reserve Chairman Jerome Powell testifies Tuesday before the House Financial Services Committee in Washington. "My personal outlook for the economy has strengthened since December," he said.