Employees wearing masks to prevent the coronavirus walk at a

Fed’s Powell says economy in good place, warns on coronavirus

By Heather Timmons WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell told Congress on Tuesday that the U.S. economy is in a good place, even as he cited the potential threat from the coronavirus in China and concerns about the economy’s long-term health. With risks like trade policy uncertainty receding and global growth stabilizing, “we […]

Sale of Renk, MAN Energy Solutions depends on buyer: Volkswagen labor chief

WOLFSBURG, Germany (Reuters) – Workers’ approval of a possible divestment of Volkswagen’s <VOWG_p.DE> transmissions making unit Renk <ZARG.F> and MAN Energy Solutions depends on who the new owner will be, the carmaker’s labor chief said on Friday. “If there is a decent buyer, if there is a fit, the labor representatives in the supervisory board […]

In next recession, Fed needs upfront promises, former staffers say

By Howard Schneider WASHINGTON (Reuters) – Two former top staffers at the U.S. Federal Reserve have joined in urging the Fed to say explicitly what it will do if interest rates hit zero again, and warned that even with the best laid plan the central bank “might simply run out of…firepower,” if a downturn is […]