Federal Reserve

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

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

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

WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates. For all of 2021, the nation’s gross domestic product —... Read More

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week as layoffs continue to fall amid a strong job market rebound. Jobless claims fell by 15,000 to 214,000 for the week ending March 12, down from the previous week's... Read More

WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year. The Fed's quarter-point hike... Read More

WASHINGTON — Sarah Bloom Raskin, President Joe Biden’s pick for a position on the Federal Reserve’s Board of Governors, withdrew her nomination Tuesday, one day after Sen. Joe Manchin, D-W.Va., joined all Senate Republicans in opposing her confirmation. In a... Read More

Wall Street pointed toward gains in premarket trading Tuesday after world share prices sunk lower, with Hong Kong down almost 6% and Shanghai losing 5%. Oil prices slid about 8% as virus lockdowns and rising numbers of COVID cases in... Read More

BANGKOK (AP) — Shares rose in Europe after a mixed session in Asia on Monday, where Hong Kong’s Hang Seng index sank 5% after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak... Read More

NEW YORK (AP) — Stocks around the world swung on Tuesday, oil prices rose sharply and the price of nickel surged so much that trading for it was shut in London, as the economic fallout from Russia’s invasion of Ukraine keeps rocking... Read More

NEW YORK (AP) — Oil prices surged above $110 per barrel Wednesday as Russian forces stepped up attacks on Ukrainian cities, while premarket trading on Wall Street pointed toward a higher open. Investors appeared to take in stride Federal Reserve... Read More

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that the Federal Reserve will have to get more aggressive about removing the tremendous support it’s given the economy. The hottest... Read More

Stocks are rising Monday, trimming some of their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging. The... Read More

WASHINGTON — The Federal Reserve left interest rates unchanged on Wednesday, keeping them near zero, but signaled a raise in rates could come soon if inflation continues to run above its preferred target and the job market remains strong. The... Read More

WASHINGTON (AP) — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve's meeting Wednesday and whether the Fed will clarify just how fast it plans to tighten credit and potentially slow the economy.... Read More

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first... Read More

WASHINGTON — In a dramatic change of policy, the Federal Reserve said Wednesday that it will accelerate its withdrawal from propping up the economy and likely will raise interest rates at least three times in 2022. As recently as September,... Read More

WASHINGTON (AP) — President Joe Biden announced Monday that he's nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing Powell's stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies... Read More

WASHINGTON — The U.S. economy has transitioned ”from recovery to expansion” as of the second fiscal quarter of this year, said Richard Calida, vice-chair of the board of governors of the Federal Reserve, Monday.  This rapid recovery from the pandemic-induced... Read More

WASHINGTON -- The Federal Reserve Board on Thursday announced it would impose new restrictions on active trading of stocks and prohibitions on the purchasing of individual securities by its policymakers and staff. The restrictions forbid purchasing individual stocks, holding investments... Read More

WASHINGTON -- The Committee on Banking, Housing, and Urban Affairs met this week to discuss the CARES Act and supporting an equitable pandemic recovery through vaccination efforts, supporting small businesses, and longer term needs like broadband infrastructure investments.  The members... Read More

WASHINGTON — If it seems like prices are going up for things like gas, groceries, vehicles, and houses, they are. The Consumer Price Index has risen by an average of 0.7% per month over the last three months, is now... Read More

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may act sooner than previously planned to start dialing back the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising... Read More

WASHINGTON (AP) — The Federal Reserve said Wednesday that it will start selling off the holdings of one of its emergency lending programs created last year to stabilize financial markets at the height of the pandemic crisis. The Fed will... Read More

WASHINGTON — According to experts convened by the political advocacy group The Concord Coalition, the nation’s long standing fiscal, monetary, and economic challenges were made more difficult by the pandemic, but they are not insurmountable.  Leaders from the Congressional Budget... Read More

The high cost of higher education, lack of adequate college preparation for all and the “digital divide” between rural and urban populations are all areas in which greater investment is needed, according to the president of the Federal Reserve Bank... Read More

The pandemic has exacerbated deep-rooted issues in the structure of jobs. The need to “rethink” the future-of-work to incorporate flexibility and employee needs came to the limelight during a fireside chat between the presidents of two Federal Reserve Banks on... Read More

WASHINGTON — Anger on Capitol Hill boiled over Tuesday after President Donald Trump called an abrupt end to negotiations with House Democrats over additional coronavirus relief, delaying action until after the election. Trump announced he was walking away from the... Read More

The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the U.S. economy recover from the coronavirus pandemic. The Federal Open Market Committee “expects to maintain an accommodative stance... Read More

The surging U.S. savings rate means the country can afford to support Americans laid off due to the coronavirus pandemic, while a “hard” lockdown could deliver a faster economic recovery, a senior Federal Reserve official said on Sunday. Federal Reserve... Read More