Latest Jerome Powell News

Global stocks sink ahead of US tariff deadline

Dec. 10, 2019 8:14 AM EST

BEIJING (AP) — Stock markets around the world fell sharply Tuesday as nervous investors watched a rapidly approaching deadline for more U.S. tariffs on Chinese imports. Markets also have their eyes on American and European interest rate decisions coming this week and the outcome of Britain's general...

Fed is likely to reinforce a message of continued low rates

Dec. 9, 2019 2:42 PM EST

WASHINGTON (AP) — The Federal Reserve is expected to send a clear message when its latest policy meeting ends Wednesday: Interest rates will likely stay ultra-low for the foreseeable future. Behind that message is a view that has gained support at the Fed as the U.S. economic expansion has entered a record...

US firms keep hiring, easing worries of weakening economy

Dec. 6, 2019 5:45 PM EST

WASHINGTON (AP) — American businesses have complained for years that they can’t find the workers they need to fill available jobs. November’s robust hiring gain suggests that at least some have found a way to do so. With the unemployment rate now at a half-century low of 3.5%, many economists...

Brazil’s Bolsonaro under fire after Trump slaps tariffs

Dec. 2, 2019 4:27 PM EST

SAO PAULO (AP) — Brazilian President Jair Bolsonaro’s U.S.-focused foreign policy efforts suffered a severe setback on Monday when his American counterpart Donald Trump pledged to impose tariffs on steel and aluminum on the South American nation. Trump initially leveled the threat by Twitter while...

How a central banker’s low-rate shift showed the way for Fed

Nov. 29, 2019 11:17 AM EST

RICHMOND, Virginia (AP) — In mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned. Months earlier, with Bullard’s support, the Fed had raised rates for the first time in seven years. Panicky financial...

US economy looking durable despite risks from trade conflict

Nov. 27, 2019 1:08 PM EST

WASHINGTON (AP) — A series of government reports Wednesday cast a picture of a steadily growing U.S. economy, fueled by solid consumer spending and defying threats — at least for now — from a U.S.-China trade war and a global slowdown. The Commerce Department estimated that the economy grew...

Powell: Solid economy but tame inflation allows low rates

Nov. 25, 2019 7:51 PM EST

Federal Reserve Chairman Jerome Powell on Monday sketched an optimistic view of the economy but signaled that continued low inflation means higher interest rates won’t likely be necessary anytime soon. Powell said that even with unemployment near a 50-year low of 3.6%, there’s still “plenty...

Jerome meets Jasmine: Fed chief observes economic struggles

Nov. 25, 2019 4:10 PM EST

EAST HARTFORD, Connecticut (AP) — Federal Reserve Chairman Jerome Powell normally spends his days in the marble halls of Washington, meeting with senators and Fed economists. On Monday, he learned about the job market from an 18-year-old named Jasmine. A recent high school graduate, Jasmine Ayala explained...

Fed minutes: Officials felt 3 cuts this year could be enough

Nov. 20, 2019 3:51 PM EST

WASHINGTON (AP) — Most Federal Reserve officials believed last month that the three rate cuts they have made this year would be enough unless the economy weakened significantly. The minutes of the October Fed meeting, released Wednesday, reveal that “most participants” thought that this...

Global shares mostly rise while investors await trade news

Nov. 19, 2019 8:00 AM EST

TOKYO (AP) — Global shares rose Tuesday as investors appeared hopeful for positive news from the trade talks between the United States and China. Strong economic data and better-than-expected corporate earnings have buoyed U.S. shares since early October, while “markets remain convinced that we will...