Federal Reserve

US Consumers Feeling Slightly Less Confident in October

WASHINGTON (AP) — American consumers are feeling increasingly less confident these days as fears of an oncoming recession remain elevated.... 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

Stock Market Today: Wall Street Claws Back From Morning Loss to Mostly Rise

NEW YORK (AP) — Wall Street is drifting Tuesday following the latest signal that the U.S. economy remains solid, though... 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

Wall Street Rises Following Updates on Consumer Confidence, Job Openings

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday as two economic reports suggested the economy... 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

US Consumer Confidence Jumps to a Two-Year High as Inflation Eases

WASHINGTON (AP) — U.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased... 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

Inflation Hits Lowest Point Since Early 2021 as Prices Ease for Gas, Groceries and Used Cars

WASHINGTON (AP) — Squeezed by painfully high prices for two years, Americans have gained some much-needed relief with inflation reaching... 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

Debt Ceiling Showdown: Biden and Congressional Leaders to Meet as McCarthy Pushes for Faster Deal

WASHINGTON (AP) — President Joe Biden is ready to discuss the debt ceiling with congressional leaders at the White House in a... 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

G7 Finance Ministers Seek Ways to Spur Global Economy as Debt Risks Loom

NIIGATA, Japan (AP) — Financial leaders of the Group of Seven advanced economies are discussing ways to support Ukraine and... 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

What's Behind the Looming 'X-Date' on the US Debt Limit?

WASHINGTON (AP) — In January, the U.S. government ran up against its legal borrowing limit of $31.381 trillion, and the... 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

Survey: Business Economists Push Back US Recession Forecasts

WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than... 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

Retail Sales Jump as Americans Defy Inflation and Rate Hikes

WASHINGTON (AP) — America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants... 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

Fed, Set to Impose Smaller Hike, May Hint of Fewer Increases

WASHINGTON (AP) — The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since... 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

US Inflation Eases Grip on Economy, Falling for a 6th Month

WASHINGTON (AP) — Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation’s grip on the economy will... 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

Wall Street Rallies, Heads for Winning Week After Weak Start

NEW YORK (AP) — Wall Street is rallying Friday amid hopes inflation may continue to cool and the Federal Reserve... 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

Wall Street Subdued Ahead of Fed Interest Rate Decision

Early trading on Wall Street is muted ahead of the Federal Reserve's final decision of the year on interest rates.... 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

US Inflation Pressures Further Intensified in September

WASHINGTON (AP) — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying... 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

Fed Attacks Inflation With Another Big Hike and Expects More

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a... 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

High Inflation in Sight, Fed to Signal More Rate Hikes Ahead

WASHINGTON (AP) — Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming,... 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

Markets Shudder on Dashed Inflation Hopes; Dow Falls 1,250

NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,000 points Tuesday as markets shuddered following Wall... 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

Powell: Fed Could Keep Lifting Rates Sharply 'For Some Time'

JACKSON HOLE, Wyoming (AP) — Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose... 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

US Retail Sales Were Flat in July as Inflation Takes a Toll

WASHINGTON (AP) — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising... 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

US Not Yet in Recession and Four Other Takeaways From the Fed

WASHINGTON (AP) — Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high,... 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

2022-07-27 20:16:28
by Dan McCue
One-Two Punch of Economic News Has Budget Hawks Calling for Action

WASHINGTON — The Congressional Budget Office released a long-term economic forecast on Wednesday that has the national debt rising to... 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

China Rejects Report it Tried to Obtain Federal Reserve Data

BEIJING (AP) — China’s government on Wednesday rejected as a “political lie” a report by The Wall Street Journal that... 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

US Inflation Reached a New 40-Year High in June of 9.1%

WASHINGTON (AP) — Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further... 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

Key Inflation Gauge Tracked by the Fed Remains a High 6.3%

WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from... 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

US Markets Point Higher; EU Hikes Rates to Cool Inflation

NEW YORK (AP) — U.S. markets appeared to be headed for gains Thursday with European Central Bank announcing its first interest... 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

US Added 428,000 Jobs in April Despite Surging Inflation

WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing... 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

US, World Markets Retreat After Powell's Hawkish Rate Stance

NEW YORK (AP) — Wall Street was pointed toward losses before markets opened on Friday, following global shares lower after... 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

Biden Picks Michael Barr for Fed's Bank Regulation Post

WASHINGTON (AP) — President Joe Biden said Friday he plans to nominate Michael Barr, the dean of the University of... 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

US Added 431,000 Jobs in March in Sign of Economic Health

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience... Read More

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic, Russia's war against Ukraine and the highest inflation in 40 years. The government’s... Read More

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