Latest Federal Reserve System News

World shares mostly higher ahead of July 4 holiday in US

Jul. 04, 2022 05:34 AM EDT

BANGKOK (AP) — World shares are mostly higher while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul. Last week was the fourth losing week in the last five for Wall Street as investors...

This Week: Fed minutes, Levi Strauss earns, jobs report

Jul. 04, 2022 01:04 AM EDT

A look at some of the key business events and economic indicators upcoming this week: CLOSE-UP ON THE FED The Federal Reserve serves up the minutes from its most recent interest rate policy meeting Wednesday. At the meeting last month, the central bank...

Wall Street closes higher but still ends week in the red

Jul. 01, 2022 17:03 PM EDT

Stocks on Wall Street shook off a downbeat start and ended broadly higher Friday, though the rebound was not enough to erase their losses for the week. The S&P 500 rose 1.1% after having been down 0.9% in the early going. The gain snapped a four-day losing streak for the...

Asian shares mostly lower after pessimistic 'tankan' survey

Jun. 30, 2022 23:50 PM EDT

TOKYO (AP) — Asian benchmarks were mostly lower on Friday, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy. Recent data suggest global growth is slowing as countries grapple with...

From stocks to crypto, a punishing six months for investors

Jun. 30, 2022 17:23 PM EDT

Americans with stock portfolios or retirement investment plans would likely prefer to forget the last six months. The S&P 500, Wall Street’s broad benchmark for many stock funds, closed the first half of 2022 with a loss of more than 20% after starting the year at an all-time...

Average long-term U.S. mortgage rates ease to 5.7%

Jun. 30, 2022 10:18 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates eased back this week after shooting up nearly three-quarters of a point in recent weeks. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate fell to 5.70% this week from 5.81% last week. One year ago, however,...

Key inflation gauge tracked by the Fed remains a high 6.3%

Jun. 30, 2022 09:21 AM EDT

WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday's report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring...

An inflation gauge closely tracked by the Federal Reserve was a high 6.3% in May, unchanged from April

Jun. 30, 2022 08:37 AM EDT
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve was a high 6.3% in May, unchanged from April.

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Jun. 29, 2022 12:28 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can...

US economy slipped 1.6% to start year; return to growth eyed

Jun. 29, 2022 09:40 AM EDT

WASHINGTON (AP) — The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter. It was the first drop in gross domestic product — the broadest...