Latest Central banking News

US consumers boost spending 1% as inflation remains high

Jul. 30, 2021 11:18 AM EDT

WASHINGTON (AP) — American consumers increased their spending by 1% in June — a dose of energy for an economy that is quickly rebounding from the pandemic recession but is facing new risks led by the delta variant of the coronavirus. At the same time, a key inflation...

Fed's Powell downplays delta variant's threat to the economy

Jul. 28, 2021 17:46 PM EDT

WASHINGTON (AP) — The spread of the COVID-19 delta variant is raising infections, leading some companies and governments to require vaccinations and raising concerns about the U.S. economic recovery. But on Wednesday, Federal Reserve Chair Jerome Powell injected a note...

Asian stocks sink after Wall St pulls back from record

Jul. 28, 2021 00:33 AM EDT

BEIJING (AP) — Asian stock markets declined Wednesday after Wall Street pulled back from a record as investors awaited a Federal Reserve report for signs of when U.S. stimulus might be withdrawn. Investors also were uncertain how much farther China will go with a...

How major US stock indexes fared Tuesday

Jul. 27, 2021 16:24 PM EDT

Stocks closed lower on Wall Street Tuesday, pulling major indexes back slightly from the records they set a day earlier. Weakness in big technology companies was the biggest factor. Markets have been choppy as investors try to get a clearer picture of how well the...

Asian stock markets advance after Wall St rises to record

Jul. 27, 2021 00:43 AM EDT

BEIJING (AP) — Asian stock markets were mostly higher Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down. Shanghai, Tokyo and Seoul advanced while Hong Kong retreated. On...

Fed to discuss a pullback in economic aid with inflation up

Jul. 26, 2021 11:38 AM EDT

WASHINGTON (AP) — With inflation uncomfortably high and the COVID-19 Delta variant raising economic concerns, a divided Federal Reserve will meet this week to discuss when and how it should dial back its ultra-low-interest rate policies. For now, the U.S. economy is...

This Week: Starbucks earns, Fed meeting, consumer spending

Jul. 26, 2021 09:22 AM EDT

A look at some of the key business events and economic indicators upcoming this week: BACK IN THE BLACK Starbucks serves up its latest quarterly snapshot Tuesday, Wall Street expects the cafe chain returned to a profit in the...

ECB says low rates to stay until the job is done

Jul. 22, 2021 08:57 AM EDT

FRANKFURT, Germany (AP) — Facing unease over the spread of a more-contagious variant of the coronavirus, the European Central Bank said it would maintain its stimulus in the form of ultra-low interest rates until inflation “durably” reaches its 2% target. The...

UK government backs Guaidó claim in Venezuelan gold fight

Jul. 19, 2021 15:39 PM EDT

LONDON (AP) — The British government sought Monday to prevent Venezuelan leader Nicolás Maduro from gaining access to nearly $2 billion of gold held by the Bank of England as the U.K. Supreme Court started hearing a case that hinges on the question of who should be considered the Latin...

As prices rise at rapid pace, Fed chief seeks patience

Jul. 15, 2021 15:55 PM EDT

WASHINGTON (AP) — For anyone watching with concern as prices surge for everything from food and gas to airplane tickets and clothes, the message from Federal Reserve Chair Jerome Powell over two days of congressional hearings this week was straightforward: Just give it more time and those...