Latest Central banking News

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

Nov. 20, 2019 2:46 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...

Federal Reserve, FDIC approve merger of BB&T, SunTrust banks

Nov. 19, 2019 5:21 PM EST

NEW YORK (AP) — The Federal Reserve and the Federal Deposit Insurance Corp. on Tuesday approved the $66 billion merger between BB&T and SunTrust, clearing the last hurdles in creating the sixth-largest bank in the U.S. The combination of BB&T Corp., which is based in Winston-Salem, North Carolina,...

Trump summons Powell to discuss rates amid WH attacks on Fed

Nov. 18, 2019 2:43 PM EST

WASHINGTON (AP) — President Donald Trump summoned Federal Reserve Chairman Jerome Powell to the White House on Monday to discuss the economy and interest rates — issues on which Trump has repeatedly attacked the Fed. The Fed said in a statement that Powell’s message to Trump during their...

Anti-government protests cripple major Iraqi port, oil field

Nov. 18, 2019 1:56 PM EST

BAGHDAD (AP) — Anti-government demonstrations in southern Iraq blocked roads leading to the country’s main port and an oil field on Monday, while the Iraqi central bank reduced working hours because of the ongoing unrest, security officials said. Protesters burned tires, blocking the roads to the...

Stocks subdued after US record highs, eyes on trade talks

Nov. 18, 2019 7:59 AM EST

TOKYO (AP) — Global markets were subdued Monday as investors look for developments in the U.S.-China trade war and the outlook for stocks after Wall Street indexes hit record highs last week. France’s CAC 40 slipped 0.1% to 5,931 and Germany’s DAX also fell 0.1% to 13,229. Britain’s...

Asian shares mixed amid cautious mood, eyes on trade talks

Nov. 17, 2019 10:21 PM EST

TOKYO (AP) — Asian shares are mixed Monday in a cautious mode after Wall Street closed out the week with milestones as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs. Japan’s benchmark Nikkei 225 inched up nearly 0.2% to 23,344.06...

Fed finds resilient financial system despite high debt

Nov. 15, 2019 5:54 PM EST

WASHINGTON (AP) — The Federal Reserve said Friday that corporate debt remains at historically high levels but overall the U.S. financial system is resilient, a view in sharp contrast to the problems that led to the 2008 financial crisis. In its twice-yearly “Financial Stability Report,” the...

Markets Right Now: S&P 500 ekes out a record at the close

Nov. 14, 2019 4:17 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. The S&P 500 has eked out a new record on an otherwise uneventful day on Wall Street. The benchmark index closed with a gain of 2 points at 3,096, its third straight increase after a decline on Monday....

Powell urges Congress to tackle growing budget deficit

Nov. 14, 2019 3:23 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell on Thursday urged Congress to tackle the growing budget deficit but also underscored the current health of the nation’s economy. Powell’s testimony before the House Budget Committee came a day after he told Congress’ Joint...

The Latest: Powell dismisses recession concerns

Nov. 14, 2019 11:30 AM EST

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony before the House Budget Committee on Thursday (all times local): ___ 11:30 a.m. Fed Chairman Jerome Powell says the United States has the “star economy” in the world at the moment and there is no reason...