The Federal Reserve plans to continue its monthly purchases of Treasuries and mortgage-backed securities even as it eyes inflation.
The leaders of the Treasury Department and Federal Reserve said they're working hard to get money from the CARES Act in the right hands.
Speaking Friday in Wyoming, Chairman Jerome Powell said the Fed will "act as appropriate" to sustain the U.S. economic expansion.
Backed by adequate capital levels, the largest banks are meeting expectations for capital planning and passed the second Fed stress test.
The nation's largest banks have sufficient capital to withstand a severe economic downturn, according to the Fed's most recent stress test.
President Donald Trump plans to nominate Nellie Liang to the Federal Reserve Board of Governors.
Fed members said they raised rates after seeing economic activity expanding, labor market conditions strengthening and inflation near its objective.
The Federal Open Market Committee raised the federal funds rate 25 basis points to a range of 1.75% to 2% as expected.