Latest Federal Reserve System News

Fed's 3rd hike this year expected despite rising trade risks

Sep. 24, 2018 1:11 PM EDT

WASHINGTON (AP) — The Federal Reserve is set this week to raise interest rates for a third time this year to prevent the economy from growing too fast. But with President Donald Trump's trade fights posing a risk to the U.S. economy, the Fed may soon be ready to slow its hikes. Many analysts expect the...

Fed watchers seek hints about future rates amid likely hike

Sep. 24, 2018 12:15 PM EDT

WASHINGTON (AP) — The Federal Reserve will surprise no one if it does Wednesday what it seems poised to do for a third time this year: Raise its key short-term interest rate by a modest quarter-point to help keep inflation in check — and hint that another hike is likely in December. What Fed...

Asian stocks follow Wall Street higher

Sep. 20, 2018 11:50 PM EDT

BEIJING (AP) — Asian stocks rose Friday after Wall Street hit a new high and a survey showed Japanese manufacturing accelerating. KEEPING SCORE: Tokyo's Nikkei 225 rose 0.5 percent to 23,793.35 and Hong Kong's Hang Seng added 0.9 percent to 27,712.47. The Shanghai Composite Index climbed 0.3 percent,...

Buoyant stocks lift US household wealth, mainly for affluent

Sep. 20, 2018 4:40 PM EDT

WASHINGTON (AP) — A rising stock market lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, the culmination of a decade of economic recovery but a gain that is concentrated largely among the most affluent. The value of Americans' stock and mutual fund portfolios rose $800...

Trump to nominate economist Nellie Liang for Fed board seat

Sep. 19, 2018 7:36 PM EDT

WASHINGTON (AP) — President Donald Trump is set to nominate former Federal Reserve economist Nellie Liang to the central bank's board of governors, tapping an official who played a key role at the Fed in dealing with the aftermath of the 2008 financial crisis. White House spokeswoman Lindsay Walters...

San Francisco Federal Reserve names Mary Daly as president

Sep. 14, 2018 5:27 PM EDT

WASHINGTON (AP) — The Federal Reserve Bank of San Francisco on Friday announced the appointment of Mary Daly, a longtime Fed economist and a labor market specialist, as the next president of the regional bank. Daly replaces John Williams, who became president of the New York Federal Reserve Bank in April....

Small-company stocks shine on an otherwise ho-hum day

Sep. 14, 2018 4:46 PM EDT

NEW YORK (AP) — U.S. stocks hardly moved Friday as the market wrapped up a solid week. Smaller companies rose following signs of sustained economic growth and reports that more tariffs on Chinese goods could be on the way. Stocks rose in early trading after the Federal Reserve said production of cars and...

Markets Right Now: Stocks end a wobbly day mostly higher

Sep. 14, 2018 4:09 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks ended an up-and-down day with slight gains on Wall Street, capping a solid week. Smaller companies rose more than the rest of the market on Friday following signs of sustained economic growth and reports that...

Fed member sees gradual interest rates hikes in short term

Sep. 13, 2018 6:49 PM EDT

JACKSON, Miss. (AP) — Atlanta Federal Reserve Bank President Raphael Bostic said Thursday that he believes growth remains strong despite uncertainty over trade tensions, and he expects interest rates to continue to rise to a point where they neither stimulate nor slow the economy. "When the economy is...

Decade later: Safer financial system yet much hasn't changed

Sep. 13, 2018 2:05 PM EDT

On the brink of crumbling a decade ago, America's financial system was saved by an extraordinary rescue that revived Wall Street and the economy yet did little for individuals who felt duped and left to suffer from the reckless bets of giant banking institutions. The government intervention shored up the banking...