Latest Monetary policy News

Men walk by screens showing Japan's Nikkei 225 index at a securities firm in Tokyo on Friday, Sept. 18, 2020. Asian shares were slightly higher Friday despite some investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic, as reflected in the overnight fall on Wall Street.(AP Photo/Hiro Komae)

US stocks drift as another bumpy week of trading nears end

Sep. 18, 2020 10:36 AM EDT

NEW YORK (AP) — Stocks are drifting in mixed trading on Wall Street Friday, as another zig-zag week for markets closes out following their abrupt loss of momentum this month. The S&P 500 was down 0.1% in morning trading after giving up a small gain in the first few minutes of trading. It’s...

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York.  Stocks are falling early on Wall Street Thursday, Sept. 17,  as the late selling from the previous day carries over.  (AP Photo/Mary Altaffer, File)

Asia slightly higher despite Wall Street slump, virus fears

Sep. 17, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were slightly higher Friday despite some investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic, as reflected in the overnight fall on Wall Street. Japan's benchmark Nikkei 225 was little changed but inched up less than 0.1% in...

FILE - In this file photo dated Wednesday, March 11, 2020, pedestrians wearing face masks walk past the Bank of England in London.  The Bank of England kept its main interest rate unchanged at the record low of 0.1% on Thursday Sept. 17, 2020, as it waits to see how the economy recovers from recession and what Britain’s future trade relationship with the European Union will be. (AP Photo/Matt Dunham, FILE)

Bank of England eyes sub-zero rates in face of virus, Brexit

Sep. 17, 2020 11:44 AM EDT

LONDON (AP) — The Bank of England indicated Thursday that it could cut interest rates below zero for the first time in its 326-year history as it tries to shore up a U.K. economic recovery that is facing the dual headwinds of the coronavirus and Brexit. After unanimously deciding to maintain the bank's...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 17, 2020. Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. (AP Photo/Ahn Young-joon)

Asian stocks retreat on lack of new Fed action

Sep. 16, 2020 11:28 PM EDT

Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. Market benchmarks in Shanghai, Tokyo, Seoul and Hong Kong all retreated. Wall Street's benchmark S&P 500 index...

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington.  The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come.  The Fed on Wednesday, Sept. 16,  also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March.  (Bill O'Leary/The Washington Post via AP, Pool)

Fed sees rates near zero through 2023, perhaps longer

Sep. 16, 2020 6:55 PM EDT

WASHINGTON (AP) — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer. Fed chair Jerome Powell said at a press...

How major US stock indexes fared Wednesday

Sep. 16, 2020 5:08 PM EDT

Stocks closed lower on Wall Street Wednesday after a brief rally faded in the last hour of trading. Losses by technology companies outweighed gains in banks and elsewhere in the market. The decline snapped a three-day winning streak for the S&P 500, and followed the Federal Reserve’s latest interest...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve policymakers will meet this week for the first time since they significantly revised the Fed's operating framework in ways that will likely keep short-term interest rates near zero for years to come.  (AP Photo/Patrick Semansky, File)

Text of the Fed's statement after its meeting Wednesday

Sep. 16, 2020 2:08 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 stability goals. The COVID-19...

Federal Reserve to seek inflation over 2%, keeps benchmark interest rate near zero; sees low rates at least through 2023

Sep. 16, 2020 2:01 PM EDT
WASHINGTON (AP) — Federal Reserve to seek inflation over 2%, keeps benchmark interest rate near zero; sees low rates at least through 2023.
A currency trader stands near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Wednesday, Sept. 16, 2020. Shares were mostly higher in Asia on Wednesday after advances for big technology companies carried Wall Street to further gains overnight. (AP Photo/Lee Jin-man)

Asian shares mostly higher after Wall Street gains

Sep. 15, 2020 11:59 PM EDT

Shares were mostly higher in Asia on Wednesday after advances for big technology companies carried Wall Street to further gains overnight. Benchmarks rose modestly in Tokyo, Hong Kong and Seoul but the Shanghai Composite index was almost flat. Investors are awaiting the outcome of the U.S. Federal Reserve...

FILE - In this Jan. 30, 2019, file photo, Federal Reserve Chairman Jerome Powell waits for a question from a reporter at a news conference in Washington. Federal Reserve policymakers will meet for two days beginning Tuesday, Sept. 15, 2020, for the first time since they significantly revised the Fed’s operating framework in ways that will likely keep short-term interest rates near zero for years to come. (AP Photo/Alex Brandon, File)

Federal Reserve to meet after sharp changes to its outlook

Sep. 15, 2020 6:54 AM EDT

WASHINGTON (AP) — Federal Reserve policymakers will meet this week for the first time since they significantly revised the Fed's operating framework in ways that will likely keep short-term interest rates near zero for years to come. As a result, analysts expect the Fed will keep its benchmark rate...