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jerome powell

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Fed holds key rate steady, projects 1 rate cut this year amid Iran war uncertainty

The U.S. Federal Reserve on Wednesday held its benchmark interest rate steady for the second consecutive time and maintained its forecast of one rate cut this year, as concerns grew over the economic impact of the ongoing Iran war.

2026.3.19

In this Dec. 11, 2014, file photo, Kevin Warsh speaks to the media about his report on transparency at the Bank of England, in London. [AP/YONHAP]

Trump nominates Kevin Warsh as next Federal Reserve chair

U.S. President Donald Trump nominated former Federal Reserve governor Kevin Warsh to succeed Jerome Powell, setting up confirmation as he presses for lower rates and reform policy.

2026.1.30

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Federal Reserve Board Chairman Jerome Powell responds to a question from the news media during a press conference at the Federal Reserve in Washington on Jan. 28. [EPA/YONHAP]

U.S. Fed leaves key rate unchanged after 3 consecutive cuts

The U.S. Federal Reserve kept its benchmark interest rate steady on Wednesday, defying U.S. President Donald Trump's continued pressure on the central bank to lower borrowing costs amid concerns over its independence.

2026.1.29

U.S. Federal Reserve Chairman Jerome Powell responds to a question from the news media during a press conference, in Washington on Sept. 17. [EPA/YONHAP]

Federal Reserve cuts key rate for first time this year

The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation's labor market.

2025.9.18

U.S. Federal Reserve Chair Jerome Powell attends a press conference following the issuance of the Federal Open Market Committee's statement on interest rate policy in Washington on June 18. [REUTERS/YONHAP]

U.S. Fed leaves key interest rate unchanged, still projects two cuts this year

The U.S. Federal Reserve on Wednesday held its benchmark interest rate steady and continued to project two rate cuts this year, as it remains in a wait-and-see mode to assess the impact of President Donald Trump's tariff policies.

2025.6.19

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference on interest rate policy in Washington on Dec. 18, 2024. [REUTERS/KEVIN LAMARQUE]

Fed keeps benchmark rate steady despite Trump's demand for cut

The U.S. Federal Reserve held its benchmark interest rate at the 4.25 to 4.5 percent range despite President Donald Trump's demands for a cut, with the central bank waiting to react to enacted policies.

2025.1.30

Finance Minister Choo Kyung-ho speaks at a meeting held in central Seoul Thursday following the Federal Reserve’s announcement to raise the federal funds rate by a quarter percentage point. [NEWS1]

Fed’s rate increase has partially resolved uncertainties: Finance Minister

The Fed’s quarter percentage point rate increase has partially resolved economic uncertainties, according to local financial authorities.

2023.2.2

Finance Minister Choo Kyung-ho speaks at a meeting held with chiefs of the Bank of Korea, the Financial Services Commission and the Financial Supervisory Service in central Seoul on Thursday. [YONHAP]

Domestic market on mend according to financial authorities

The domestic financial market is starting to recover from the U.S. Fed’s slowing rate increase and the government’s market stabilization measures, said financial authorities Thursday.

2022.12.15

Electronic display boards at Hana Bank in central Seoul show Kospi reaching above 2,500 points and the won-dollar exchange rate reaching below 1,300 won on Thursday. [YONHAP]

Stock, foreign exchange markets recover to levels not seen in months

Korea’s stock and foreign exchange markets recovered to levels unseen in months following U.S. Federal Reserve Chairman Jerome Powell’s signal on slowing down the pace of upcoming interest rate increases.

2022.12.1

An electronic display board at Hana Bank in central bank shows won breaking 1,430 won in intraday trading on Monday. [YONHAP]

Rhee hems and haws on dollar swap as markets unravel

Korea's central bank continued to waffle on the issue of whether a currency swap with the United States is being pursued, even as the won collapsed and the financial markets in general were in turmoil.

2022.9.26