Latest Economy News

Stocks rise broadly on Wall Street after Fed statement

Sep. 22, 2021 14:31 PM EDT

Stocks were broadly higher on Wall Street Wednesday afternoon after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year. In a statement issued at 2 p.m. Eastern, the central bank said it may start raising...

Fed foresees a potential rate hike as soon as next year

Sep. 22, 2021 14:30 PM EDT

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it's concerned that high inflation pressures may persist. In a statement, the...

Text of the Federal Reserve's statement after its meeting

Sep. 22, 2021 14:26 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price...

Federal Reserve moves up timetable for a potential rate hike to 2022, from 2023, as economy and inflation pick up

Sep. 22, 2021 14:03 PM EDT
WASHINGTON (AP) — Federal Reserve moves up timetable for a potential rate hike to 2022, from 2023, as economy and inflation pick up.

Existing US home sales fell in August, price growth slows

Sep. 22, 2021 13:15 PM EDT

Sales of previously occupied U.S. homes fell in August and prices that have been soaring eased, the latest sign the housing market is cooling as intense competition leaves many would-be buyers on the sidelines. Existing homes sales fell 2% last month from July to a...

UK's Johnson concedes US trade deal not in the offing

Sep. 22, 2021 13:10 PM EDT

LONDON (AP) — British Prime Minister Boris Johnson conceded Wednesday that a post-Brexit trade deal with the U.S. was not imminent as he voiced confidence that the decades-long U.S. ban on imports of British lamb would be lifted. A day after President Joe Biden...

The Latest: Ethnic tensions threaten Bosnia's integrity

Sep. 22, 2021 12:27 PM EDT

The Latest on the U.N. General Assembly: ___ The chair of Bosnia and Herzegovina’s presidency called upon the United Nations to uphold its commitment to human rights, citing ethnic inequality within his own country. Željko...

Editorial Roundup: U.S.

Sep. 22, 2021 11:48 AM EDT

Excerpts from recent editorials in the United States and abroad: Sept. 20 The Philadelphia Inquirer on protecting abortion rights in Pennsylvania: In one legislative session after another, Pennsylvania Republicans have tried to...

European Central Bank climate report: Early action is better

Sep. 22, 2021 09:31 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank's first climate stress test shows higher risks of loan defaults for banks in fire-plagued southern Europe and argues that an earlier and orderly shift to greener energy may have costs — but pay off for the economy over the long run. ...

Lebanon raises fuel prices for 2nd time in 5 days

Sep. 22, 2021 07:46 AM EDT

BEIRUT (AP) — Lebanon’s new government raised the price of fuel on Wednesday by 16%, the second time in five days, part of a gradual lifting of subsidies in the crisis-struck country. The new hike brings the price of fuel, in short supply, closer to black market...