Federal Reserve

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could... Read More

WASHINGTON (AP) — American consumers are feeling increasingly less confident these days as fears of an oncoming recession remain elevated. The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 102.6 from 104.3 in... Read More

NEW YORK (AP) — Wall Street is drifting Tuesday following the latest signal that the U.S. economy remains solid, though perhaps too strong for the Federal Reserve’s liking. The S&P 500 was 0.2% higher in midday trading after erasing an... Read More

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday as two economic reports suggested the economy is cooling enough for the Federal Reserve to pause hiking interest rates. The S&P 500 rose 0.7%, adding to the... Read More

WASHINGTON (AP) — U.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased and the American economy continued to show resilience in the face of dramatically higher interest rates. The Conference Board, a... Read More

WASHINGTON (AP) — Squeezed by painfully high prices for two years, Americans have gained some much-needed relief with inflation reaching its lowest point since early 2021 — 3% in June compared with a year earlier — thanks in part to... Read More

WASHINGTON (AP) — President Joe Biden is ready to discuss the debt ceiling with congressional leaders at the White House in a high-profile session with reverberations across the globe as early outlines of a potential deal begin to emerge from painstakingly slow negotiations. Raising... Read More

NIIGATA, Japan (AP) — Financial leaders of the Group of Seven advanced economies are discussing ways to support Ukraine and pressure Russia to end the war as they meet in Japan starting Thursday. Ukraine's finance minister, Serhiy Marchenko, was participating... Read More

WASHINGTON (AP) — In January, the U.S. government ran up against its legal borrowing limit of $31.381 trillion, and the Treasury Department began implementing “extraordinary measures” to avoid missing payments on its bills. That started speculation about the “x-date" — the date... Read More

WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates. Fifty-eight... Read More

WASHINGTON (AP) — America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy's resilience in the face of higher prices and multiple interest... Read More

WASHINGTON (AP) — The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since March. But the Fed will likely announce a smaller hike for a second straight time, and it could change some... Read More

WASHINGTON (AP) — Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation’s grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it. Inflation declined to... Read More

NEW YORK (AP) — Wall Street is rallying Friday amid hopes inflation may continue to cool and the Federal Reserve may ease up on its hikes to interest rates following some mixed readings on the U.S. economy. The S&P 500... Read More

Early trading on Wall Street is muted ahead of the Federal Reserve's final decision of the year on interest rates. Futures for the Dow Jones Industrial Average and the S&P 500 were flat Wednesday, shifting between tiny gains and losses.... Read More

WASHINGTON (AP) — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received and ensuring that the Federal Reserve will keep raising... Read More

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an... Read More

WASHINGTON (AP) — Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed's drive to curb inflation by aggressively raising interest rates, he said, would "bring... Read More

NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,000 points Tuesday as markets shuddered following Wall Street’s realization that inflation isn’t slowing as much as hoped. The sell-off knocked the benchmark S&P 500 3.7% lower in... Read More

JACKSON HOLE, Wyoming (AP) — Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades. Powell... Read More

WASHINGTON (AP) — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many Americans to spend more cautiously. Retail purchases were flat after having risen 0.8% in June, the... Read More

WASHINGTON (AP) — Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs. Yet despite his resolute words, the Fed... Read More

WASHINGTON — The Congressional Budget Office released a long-term economic forecast on Wednesday that has the national debt rising to 185% of gross domestic product in 2052, with interest payments to cover that debt poised to quadruple as a share... Read More

BEIJING (AP) — China’s government on Wednesday rejected as a “political lie” a report by The Wall Street Journal that Beijing tried to recruit informants in the Federal Reserve system to obtain U.S. economic data. The report, citing an investigation... Read More

WASHINGTON (AP) — Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing... Read More

WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday's report from the Commerce Department provided the latest evidence that... Read More

NEW YORK (AP) — U.S. markets appeared to be headed for gains Thursday with European Central Bank announcing its first interest rate hike in 11 years. The bank will make two quarter-point increases, with the second arriving in September. The surprise decision... Read More

WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. Friday’s jobs report from the Labor... Read More

NEW YORK (AP) — Wall Street was pointed toward losses before markets opened on Friday, following global shares lower after Federal Reserve Chair Jerome Powell indicated aggressive increases in interest rates were needed to fight inflation. The futures for the Dow industrials... Read More

WASHINGTON (AP) — President Joe Biden said Friday he plans to nominate Michael Barr, the dean of the University of Michigan's public policy school, to be the Federal Reserve's vice chairman of supervision. The selection of Barr comes after Biden’s... Read More