Latest Federal Reserve System News

Trump acknowledges China polices may mean US economic pain

Aug. 20, 2019 6:17 PM EDT

WASHINGTON (AP) — President Donald Trump acknowledged Tuesday his aggressive China trade policies may mean economic pain for Americans but insisted they're needed for more important long-term benefits. He insisted he's not fearing a recession but is nonetheless considering new tax cuts to promote growth....

Major US stock indexes finish lower, snapping a 3-day rally

Aug. 20, 2019 5:10 PM EDT

Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market. The selling pulled every major sector lower, snapping a three-day winning streak for the S&P 500. Financial sector stocks bore the brunt of the decline as investors...

White House insists fundamentals of US economy 'very strong'

Aug. 20, 2019 11:56 AM EDT

WASHINGTON (AP) — The "fundamentals" of the U.S. economy are solid, the White House asserted, invoking an ill-fated political declaration of a decade ago amid mounting concern that a recession could imperil President Donald Trump's reelection. Exhibiting no such concern, senior adviser Kellyanne Conway...

Asian shares mostly rise after Wall Street rally on Huawei

Aug. 20, 2019 12:06 AM EDT

TOKYO (AP) — Asian shares were mostly higher Tuesday after Wall Street rallied on the U.S. decision to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. That decision appeared to inspire a buying mood among investors eager for any signs of progress in the trade war...

Q&A: Recession jitters are rising. Is there reason to worry?

Aug. 19, 2019 4:22 PM EDT

WASHINGTON (AP) — Nerves are being frayed by a global economy that increasingly looks breakable. Growth is stalling. Factory output is down. Oil demand is off. U.S. tariffs on China have slowed trade. Investors have crowded into government bonds and sent interest rates sliding in a way that has often...

74% of economists in survey see US recession by end of 2021

Aug. 19, 2019 2:03 PM EDT

WASHINGTON (AP) — A strong majority, 74%, of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump's economic policies that they expect a recession in the U.S. by the end of 2021. The economists surveyed by the National Association for Business Economics,...

Trump calls on Federal Reserve to cut interest rates

Aug. 19, 2019 1:02 PM EDT

WASHINGTON (AP) — President Donald Trump is calling on the Federal Reserve to cut interest rates by at least a full percentage point "over a fairly short period of time," saying that such an action would make the U.S. economy even better and would also "greatly and quickly" enhance the global economy. In...

Trump dismisses worries of recession, says economy is strong

Aug. 19, 2019 4:28 AM EDT

BERKELEY HEIGHTS, N.J. (AP) — President Donald Trump dismissed concerns of recession on Sunday and offered an optimistic outlook for the economy after last week's steep drop in the financial markets. "I don't think we're having a recession," Trump told reporters as he returned to Washington from his New...

Signs of recession worry Trump ahead of 2020

Aug. 17, 2019 6:29 AM EDT

WASHINGTON (AP) — President Donald Trump is warning of an economic crash if he loses reelection, arguing that even voters who personally dislike him should base their ballots on the nation's strong growth and low unemployment rate. But privately, Trump is growing increasingly worried the economy won't look...

Weak global growth likely to mean US slowdown, not recession

Aug. 15, 2019 8:07 PM EDT

WASHINGTON (AP) — How fragile is the global economy? The U.S.-China trade war is weakening businesses in both countries, Germany's economy shrank in the second quarter, and Britain appears headed for a disruptive exit from the European Union this fall. Those trends have hammered American manufacturers and...