Latest Federal Reserve System News

Wobbly day on Wall Street ends mixed; New highs for S&P, Dow

Nov. 13, 2019 5:10 PM EST

Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday. The Dow Jones Industrial Average and S&P 500 index each eked out a modest gain that was good enough to nudge them to record highs. The Nasdaq closed just below its all-time high set a day earlier. The latest milestones...

Fed’s Powell sees steady growth, signals pause in rate cuts

Nov. 13, 2019 4:27 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...

Markets Right Now: S&P 500, Dow at records; Nasdaq falls

Nov. 13, 2019 4:12 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks struggled to a mixed finish on Wall Street but with enough lift to set more record highs for the S&P 500 and the Dow Jones industrials. Major indexes had been higher at midday Wednesday but took a stumble...

The Latest: Powell sees job participation as major problem

Nov. 13, 2019 12:09 PM EST

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony before the Joint Economic Committee about the outlook for the U.S. economy (all times local): ___ 11:55 a.m. Federal Reserve Chairman Jerome Powell says two major long-term issues facing the U.S. economy are sluggish...

France clinches Fed Cup with epic 3-2 win over Australia

Nov. 10, 2019 6:46 AM EST

PERTH, Australia (AP) — Kristina Mladenovic inspired France to a drought-breaking Fed Cup triumph after a nail-biting 3-2 win in the final against Australia on Sunday. Mladenovic combined with Caroline Garcia to beat Ashleigh Barty and Samantha Stosur 6-4, 6-3 in the decisive doubles match at Perth Arena....

Top-ranked Ash Barty defeats Garcia to even Fed Cup final

Nov. 9, 2019 9:53 AM EST

PERTH, Australia (AP) — Australian Ash Barty continued her season-long extraordinary form to beat France's Caroline Garcia 6-0, 6-0 and level the Fed Cup final at 1-1 on Saturday. The world No.1-ranked Barty beat Garcia in just 56 minutes on an outdoor hard court at Perth Arena to get Australia back on...

Australia vs France: Barty to face Garcia in Fed Cup final

Nov. 8, 2019 1:03 AM EST

PERTH, Australia (AP) — World No. 1 Ash Barty will attempt to cap an extraordinarily successful season by leading Australia to its first Fed Cup victory in 45 years. Barty, who won the French Open for her first major, and last week's WTA Finals in China, will play Caroline Garcia of France. Ajla...

Asia stocks mixed on possible US-China trade snag

Nov. 5, 2019 11:47 PM EST

BEIJING (AP) — Asian stock markets were mixed Wednesday after investors were rattled by a possible snag in a U.S.-Chinese trade truce following reports Beijing wants Washington to life punitive tariffs. Shanghai and Sydney declined while Tokyo and Hong Kong advanced. Beijing wants 15% tariffs imposed in...

Liz Weston: Speedier payment systems could curb your costs

Nov. 4, 2019 7:25 AM EST

Here's an illustration of the many ways slow payment systems can inconvenience you and cost you money. Let's say Homer is two days from payday. The family checking account at First Bank of Springfield is on fumes. There's just enough in the account, Homer thinks, to gas up his Plymouth sedan and buy Bart a...

Stocks hit records as strong jobs report calms trade worries

Nov. 1, 2019 4:30 PM EDT

NEW YORK (AP) — Stocks powered to records Friday after an encouraging jobs report gave reassurance that the economy is still solid, despite the pain U.S. factories are feeling from President Donald Trump's trade war. The Labor Department's report showed that employers added more jobs in October than...