Jerome Powell

A historic number of workers have become their own bosses amid the COVID-19 pandemic, according to data from the Bureau of Labor Statistics (pdf).

The chief economic adviser for financial services firm Allianz warned that the new coronavirus variant Omicron could shake up the markets, exacerbate supply chain woes, amplify record-high inflation pressures — and possibly result in 1970s-style “stagflation.”

President Joe Biden has picked Federal Reserve Chair Jerome Powell to serve a second four-year term at the helm of the central bank, while nominating Lael Brainard, the only Democrat on the Fed’s seven-member board, to serve as second-in-command at the Fed.

‘Stocks are loving the very easy monetary policy,’ says a portfolio manager

Some investors think the Federal Reserve will be forced to swiftly raise rates next year to rein in inflation and keep the economy stable

Strong consumer demand and supply shortages test economy with rapid uptick in inflation

The Federal Reserve will ban policy makers and other senior officials from buying individual stocks and bonds and will also restrict active trading after an ethics scandal led to the departure of two regional presidents and undermined confidence in the central bank.

Inflation unexpectedly accelerated in August, as shortages of a wide range of consumer goods and services drove up prices.

Surging oil prices 'one of the biggest drivers'

Following revelations that Federal Reserve officials made trades in financial assets while the Fed was taking extraordinary efforts to “stimulate” the economy, Federal Reserve Chairman Jerome Powell ordered a review of the Fed’s ethics rules.