Latest Federal Reserve System News

US consumer prices flat in November as energy plunges

Dec. 12, 2018 11:21 AM EST

WASHINGTON (AP) — U.S. consumer prices were unchanged in November, the best performance since prices actually fell eight months ago. The docile inflation reading reflected a big drop in the cost of gasoline and other energy products. The Labor Department said Wednesday that the unchanged inflation reading...

US wholesale prices rise 0.1 pct., a sign inflation in check

Dec. 11, 2018 9:21 AM EST

WASHINGTON (AP) — U.S. wholesale prices barely rose last month as a sharp decline in the cost of gas offset pricier freight trucking services and mobile phone plans. The Labor Department said Tuesday that the producer price index — which tracks cost changes before they reach the consumer —...

Asian shares mixed on concerns over trade, economic outlook

Dec. 10, 2018 10:52 PM EST

SINGAPORE (AP) — Asian markets were mixed Tuesday in narrow trading on doubts that U.S. and China can manage to resolve their festering trade dispute. KEEPING SCORE: Japan's benchmark Nikkei 225 lost 0.4 percent to 21,127.00 and South Korea's Kospi added less than 0.1 percent to 2,055.07. Hong Kong's Hang...

US hiring pullback could signal mild slowdown in growth

Dec. 7, 2018 4:29 PM EST

WASHINGTON (AP) — U.S. job growth declined modestly in November, a move that could signal a slower but still steady pace of hiring and growth next year. The potential for a more anemic economy contributed to a sharp drop in the stock market Friday, sending the Dow Jones average down 560 points, or 2.2%, by...

Solid US jobs report expected amid sharp market volatility

Dec. 7, 2018 7:38 AM EST

WASHINGTON (AP) — Friday's jobs report for November is expected to point to a solid economy for most Americans, with steady hiring, a low unemployment rate and faster wage gains. If so, it would provide a dose of welcome news after this week's frantic financial market gyrations, which have been driven...

Asian shares rise on Wall Street gains amid trade friction

Dec. 6, 2018 10:42 PM EST

TOKYO (AP) — Asian shares were mostly higher Friday after gains on Wall Street but investors continued to watch for news about U.S.-China trade friction. KEEPING SCORE: Japan's benchmark Nikkei 225 added 0.1 percent to 21,524.02, and Australia's S&P/ASX 200 gained 0.5 percent to 5,685.50 in early...

Fed chairman says central bank concerned about rural poverty

Dec. 6, 2018 7:04 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the U.S. economy overall is strong but many rural areas are falling farther behind. Powell says unemployment in the poorest rural counties is more than double the national average last year, while those employed or looking for jobs in their...

US household wealth jumps $2T, led by rising stock market

Dec. 6, 2018 5:47 PM EST

WASHINGTON (AP) — A stock market rally, which has since reversed, propelled U.S. household net worth to a record high of $109 trillion in the July-September quarter. The Federal Reserve said Thursday that the value of Americans' stock and mutual fund holdings soared $1.2 trillion. Home values rose $200...

Asian shares skid as Huawei CFO arrest revives trade jitters

Dec. 5, 2018 11:30 PM EST

TOKYO (AP) — Asian stock prices skidded Thursday following the arrest of a senior official at Chinese telecoms equipment maker Huawei that could derail progress in China-U.S. trade talks. KEEPING SCORE: Hong Kong's Hang Seng index tumbled 2.6 percent to 26,117.28 and Japan's benchmark Nikkei 225 fell 2.1...

Fed survey cites rising concerns about trade tariffs

Dec. 5, 2018 4:42 PM EST

WASHINGTON (AP) — The Federal Reserve said Wednesday that the U.S. economy was growing in the fall, but there were concerns about higher tariffs from a widening trade war, rising interest rates and tight labor markets. In its latest report on economic conditions around the country, the Fed said that most...