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Pelosi drug bill up for House vote reflects a Trump idea
WASHINGTON (AP) — Candidate Donald Trump said he could save Medicare billions by negotiating prescription drug prices. Thursday the House will vote on a bill by Speaker Nancy Pelosi that would deliver that and much more. But Trump is not on board. The California Democrat's legislation is expected to pass...
Fed leaves low rates alone and sees no moves in near future
WASHINGTON (AP) — Chairman Jerome Powell made clear Wednesday that the Federal Reserve is prepared to keep its benchmark interest rate very low through at least next year — and possibly longer. Fueling that expectation is the growing belief of Fed officials that inflation will remain tame even as...
Text of the Fed's statement after its meeting Wednesday
WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in October indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been...
November US consumer prices up 0.3% on rising energy costs
WASHINGTON (AP) — Higher energy prices lifted U.S. overall consumer prices in November. The Labor Department said Wednesday that its consumer price index rose 0.3% last month after rising 0.4% in October. Energy prices, led by a 1.1% uptick in gasoline, rose 0.8% in November on top of a 2.7% jump in...
US Federal Reserve could signal no rate hike through 2020
WASHINGTON (AP) — The Federal Reserve is set to leave its benchmark interest rate unchanged Wednesday and will likely signal that it expects rates to remain low well into next year despite a robust job market. Many economists have said they think sluggish growth will even compel the Fed to cut rates at...
Europe's new central bank chief faces slow growth, dissent
FRANKFURT, Germany (AP) — Mario Draghi took over as head of the European Central Bank eight years ago amid market speculation that the euro currency union might break up. Christine Lagarde succeeds him with more breathing room - but facing serious challenges from a weak economy, policy differences among...
Global stocks sink ahead of US tariff deadline
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...
Sprint exec messages suggest T-Mobile deal may boost prices
NEW YORK (AP) — Messages by a Sprint executive revealed in federal court suggested he thought an acquisition by T-Mobile might push up mobile-service prices for consumers, undercutting T-Mobile's argument that its deal will benefit Americans. The text messages, presented by attorneys for a coalition of...
Fed is likely to reinforce a message of continued low rates
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...
Ex-Fed Chair Volcker dies, tamed inflation with recession
Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office. He was 92. Volcker took charge of the Fed in August 1979, when the U.S. economy was in the grip...
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