Latest Federal Reserve System News

A passer-by walks past a store closing sign, right, in the window of a department store, Tuesday, Oct. 27, 2020, in Boston.  Americans may feel whiplashed by a report Thursday, Oct. 29,  on the economy's growth this summer, when an explosive rebound followed an epic collapse.  The government will likely estimate that the economy grew faster on an annualized basis last quarter than in any such period since record-keeping began in 1947.(AP Photo/Steven Senne)

US consumer spending rose a moderate 1.4% in September

Oct. 30, 2020 1:54 PM EDT

WASHINGTON (AP) — U.S. consumers increased their spending by 1.4% in September, a modest gain but far less than the big increases of late spring, adding to concerns that Americans remain cautious with the viral pandemic resurging across the country and impeding the economy. The September gain marked the...

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington. A Federal Reserve survey of business conditions around the country has found that the U.S. economy grew at a “slight to modest” pace in September 2020 and early October. (AP Photo/Patrick Semansky, File)

Federal Reserve expands Main Street program to smaller firms

Oct. 30, 2020 1:43 PM EDT

WASHINGTON (AP) — The Federal Reserve will reduce the minimum loan level in its small business lending program and waive some fees to try to boost participation in a program that has so far provided little assistance to struggling companies. The Fed announced Friday that it will support loans of as low as...

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington. A Federal Reserve survey of business conditions around the country has found that the U.S. economy grew at a “slight to modest” pace in September 2020 and early October. (AP Photo/Patrick Semansky, File)

Fed survey finds tepid growth as US economy battles pandemic

Oct. 21, 2020 6:53 PM EDT

WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that the U.S. economy grew at a “slight to modest” pace in September and early October, but also documented many areas of economic activity hobbled by the coronavirus pandemic. The Fed report made...

A business displays a

Consumer prices rise 0.2% in September, used vehicles spike

Oct. 13, 2020 9:25 AM EDT

SILVER SPRING, Md. (AP) — U.S. consumer prices rose slightly in September, led again by sharp increases in the index for used vehicles. The consumer price index rose 0.2% last month, after gaining 0.4% in August, the Labor Department reported Tuesday. Prices for used cars and trucks rose 6.7% in September...

Banking executive Bob Marshall, an active stock investor, poses for a photo at his home in Ashburn, Va., Friday, Aug. 7, 2020. Nearly half of all U.S. households don’t own any stocks, and a disproportionate number of them are from Black and other racial-minority households. Differences in financial-literacy education may be one factor, Marshall said. Or, because fewer Black families have wealth that has carried through generations, they may be more wary of risky investments. (AP Photo/J. Scott Applewhite)

Stocks are soaring, and most Black people are missing out

Oct. 12, 2020 12:30 PM EDT

NEW YORK (AP) — Americans who own stocks are pulling further away from those who don't, as Wall Street roars back to record heights while much of the economy struggles. And Black households are much more likely to be in that not-as-fortunate group that isn't in the stock market. Only 33.5% of Black...

A man wearing a face mask stands near a screen showing the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange in Seoul, South Korea, Thursday, Oct. 8, 2020. Asian shares were mostly higher Thursday on optimism that U.S. stimulus may be coming, as President Donald Trump appeared to reverse his earlier decision to halt talks on another economic rescue effort. (AP Photo/Lee Jin-man)

Asian shares mostly higher on hopes for U.S. stimulus

Oct. 7, 2020 11:43 PM EDT

TOKYO (AP) — Asian shares were mostly higher on Thursday on optimism U.S. stimulus may be coming after all, as President Donald Trump appeared to reverse his earlier decision to halt talks on another economic rescue effort. Japan's benchmark Nikkei 225 added 0.9% to 23,636.35. South Korea's Kospi gained...

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed officials cited risks if Congress fails to pass more aid

Oct. 7, 2020 5:12 PM EDT

WASHINGTON (AP) — Federal Reserve officials expressed concern at their most-recent meeting that the U.S. economy recovery could falter if Congress failed to approve another round of pandemic relief. The Fed on Wednesday released minutes of its most recent meeting, showing that officials believed the...

The Federal Reserve says consumer borrowing fell by $7.2 billion in August as credit card use dropped for 6th month

Oct. 7, 2020 3:15 PM EDT
WASHINGTON (AP) — The Federal Reserve says consumer borrowing fell by $7.2 billion in August as credit card use dropped for 6th month.
A man walks under a screen showing the KOSPI, Korea Composite Stock Price Index at the Korea Exchange in Seoul, South Korea, Wednesday, Oct. 7, 2020. Stocks were mixed in Asia on Wednesday despite an overnight decline on Wall Street after President Donald Trump ordered a stop to talks on another round of aid for the economy. (AP Photo/Ahn Young-joon)

World shares mixed after Trump calls halt to stimulus talks

Oct. 7, 2020 7:16 AM EDT

World shares were mostly lower on Wednesday after U.S. President Donald Trump ordered a stop to talks on another round of aid for the economy. U.S. futures were up slightly after dropping on Trump's announcement the day before. Markets were down slightly in Germany, France and Japan but closed higher in Hong...

A man walks under a screen showing the KOSPI, Korea Composite Stock Price Index at the Korea Exchange in Seoul, South Korea, Wednesday, Oct. 7, 2020. Stocks were mixed in Asia on Wednesday despite an overnight decline on Wall Street after President Donald Trump ordered a stop to talks on another round of aid for the economy. (AP Photo/Ahn Young-joon)

Asian shares mixed after Trump calls off stimulus talks

Oct. 6, 2020 11:53 PM EDT

Stocks were mixed in Asia on Wednesday despite an overnight decline on Wall Street after President Donald Trump ordered a stop to talks on another round of aid for the economy. Markets rose in Hong Kong and Sydney but fell in Tokyo. Trump’s announcement via Twitter came after Federal Reserve Chair Jerome...