Latest Federal Reserve System News

Trump flip-flops on tax cuts, saying US has 'strong economy'

Aug. 22, 2019 6:12 AM EDT

WASHINGTON (AP) — A day after considering cutting taxes to promote economic growth, President Donald Trump changed course and said he would abandon the idea because the nation already had "a strong economy." Trump's flip-flop on Wednesday came after recent market volatility and economic uncertainty, and...

Global stocks mixed after Wall Street rebound

Aug. 22, 2019 4:44 AM EDT

BEIJING (AP) — Global stock markets were mixed Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts. Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting...

Asian stocks mixed after Wall Street rebound

Aug. 22, 2019 12:21 AM EDT

BEIJING (AP) — Asian stock markets are mixed Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts. Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting...

Markets Right Now: Big gains by retailers lead stocks higher

Aug. 21, 2019 4:10 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing higher on Wall Street as investors applauded encouraging quarterly results from major retailers. Target soared 20% Wednesday after releasing earnings that blew past analysts' expectations. Lowe's...

Fed officials widely divided on rates at July meeting

Aug. 21, 2019 3:57 PM EDT

WASHINGTON (AP) — Federal Reserve officials were widely divided at their meeting last month when they decided to cut rates for the first time in a decade, with some arguing for a bigger rate cut while others insisted the Fed should not cut rates at all. The minutes of the July 30-31 discussions released...

Powell may signal future rate cuts, but would they matter?

Aug. 21, 2019 12:22 PM EDT

WASHINGTON (AP) — The economy is slowing, the trade war is raging and the president is repeatedly attacking. Under the glare of a spotlight, Chairman Jerome Powell may signal Friday what the Federal Reserve will do — or can do — to strengthen the economy and restore confidence at a time of...

Global stocks mostly rise ahead of US Fed release

Aug. 21, 2019 7:59 AM EDT

BEIJING (AP) — Global stock markets were back in positive territory Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts. Market benchmarks in London and Frankfurt rose in early trading. On Wall Street, the futures for...

Asian stocks follow Wall Street lower before US Fed release

Aug. 21, 2019 12:18 AM EDT

BEIJING (AP) — Asia stock markets followed Wall Street lower Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts. Benchmarks in Tokyo, Shanghai and Australia declined while South Korea advanced. U.S. stocks fell...

White House insists fundamentals of US economy 'very strong'

Aug. 20, 2019 11:56 AM EDT

WASHINGTON (AP) — The "fundamentals" of the U.S. economy are solid, the White House asserted, invoking an ill-fated political declaration of a decade ago amid mounting concern that a recession could imperil President Donald Trump's reelection. Exhibiting no such concern, senior adviser Kellyanne Conway...

Asian shares mostly rise after Wall Street rally on Huawei

Aug. 20, 2019 12:06 AM EDT

TOKYO (AP) — Asian shares were mostly higher Tuesday after Wall Street rallied on the U.S. decision to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. That decision appeared to inspire a buying mood among investors eager for any signs of progress in the trade war...