Latest Jerome Powell News

Fed officials widely divided on rates at July meeting

Aug. 21, 2019 2:26 PM EDT

WASHINGTON (AP) — Federal Reserve officials were widely divided at their meeting last month when they decided to cut rates for the first time in a decade, with some arguing for a bigger rate cut while others insisted the Fed should not cut rates at all. The minutes of the July 30-31 discussions released...

Solid earnings from major US retailers drive stocks higher

Aug. 21, 2019 2:23 PM EDT

U.S. stocks marched broadly higher in afternoon trading Wednesday as investors welcomed a batch of strong earnings reports from several big retailers. Traders had a muted reaction to the afternoon release of notes from the Federal Reserve's policymaking meeting last month. Target and Lowe's surged, leading a...

Powell may signal future rate cuts, but would they matter?

Aug. 21, 2019 12:22 PM EDT

WASHINGTON (AP) — The economy is slowing, the trade war is raging and the president is repeatedly attacking. Under the glare of a spotlight, Chairman Jerome Powell may signal Friday what the Federal Reserve will do — or can do — to strengthen the economy and restore confidence at a time of...

Global stocks mostly rise ahead of US Fed release

Aug. 21, 2019 7:59 AM EDT

BEIJING (AP) — Global stock markets were back in positive territory Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts. Market benchmarks in London and Frankfurt rose in early trading. On Wall Street, the futures for...

Trump acknowledges China policies may mean US economic pain

Aug. 21, 2019 7:26 AM EDT

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

Asian stocks follow Wall Street lower before US Fed release

Aug. 21, 2019 12:18 AM EDT

BEIJING (AP) — Asia stock markets followed Wall Street lower Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts. Benchmarks in Tokyo, Shanghai and Australia declined while South Korea advanced. U.S. stocks fell...

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...