Latest Jerome Powell News

Fed survey finds businesses worried by political uncertainty

Jan. 16, 2019 4:41 PM EST

WASHINGTON (AP) — The Federal Reserve said Wednesday business contacts in many regions of the country are expressing less optimism amid a host of adverse developments, from plunging stock prices to uncertainty about a widening trade war. In its latest report on economic conditions around the country, the...

US wholesale prices fell 0.2 percent in December

Jan. 15, 2019 9:21 AM EST

WASHINGTON (AP) — U.S. wholesale prices fell last month, dragged down by a steep drop in gas costs, suggesting that inflation will remain tame in the coming months. The Labor Department said Tuesday that the producer price index — which tracks cost changes before they reach the consumer —...

Fed officials feared adverse market reaction in 2013

Jan. 11, 2019 5:17 PM EST

WASHINGTON (AP) — Federal Reserve officials were worried about an adverse market reaction when they made their first tentative moves in 2013 to pull back on the massive support they had been providing to help the economy recover from the Great Recession. Transcripts of their discussions released Friday...

Cheaper gas sends US consumer prices down 0.1 pct

Jan. 11, 2019 9:14 AM EST

WASHINGTON (AP) — Consumer prices slipped 0.1 percent last month, pulled down by sharply lower gas prices and cheaper air fares, used cars, and mobile phone plans. The consumer price index rose just 1.9 percent in December from a year earlier, the Labor Department said Friday, the first time it has fallen...

Global stocks give up some gains after solid start to year

Jan. 11, 2019 8:15 AM EST

LONDON (AP) — Stock markets drifted lower Friday as investors booked some profits after an encouraging couple of weeks that have helped many of the world's leading indexes halve the losses notched up during a bleak end to 2018. KEEPING SCORE: In Europe, Germany's DAX slipped 0.4 percent to 10,879 while the...

Asian stocks rise on Fed restraint, U.S-China trade hopes

Jan. 10, 2019 11:23 PM EST

SINGAPORE (AP) — Asian markets were mostly higher on Friday as investors cheered a more restrained Federal Reserve and U.S.-China trade talks. KEEPING SCORE: Japan's Nikkei 225 index advanced 0.7 percent to 20,306.16 and South Korea's Kospi was 0.4 percent higher at 2,071.18. Hong Kong's Hang Seng rose 0.1...

Industrials lead US stocks higher again; Macy's nosedives

Jan. 10, 2019 5:52 PM EST

NEW YORK (AP) — A day of back-and-forth trading Thursday ended with the fifth gain in a row for U.S. stocks. Industrial companies like Boeing and General Electric rose while retailers fell as Macy's suffered its biggest loss of all time. Stocks struggled in the early going and the Dow Jones Industrial...

Powell repeats pledge to remain 'patient' with rate hikes

Jan. 10, 2019 2:46 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Thursday that the central bank has the ability to be "patient" in determining when to hike interest rates. Speaking to an audience in Washington, Powell delivered the same reassuring message of restraint and flexibility that bolstered markets...

Asian markets settle after rallying on US-China trade hopes

Jan. 9, 2019 11:18 PM EST

SINGAPORE (AP) — Asian markets were mostly lower Thursday as U.S. and Chinese officials wrapped up three days of talks in Beijing without significant breakthroughs. KEEPING SCORE: Japan's Nikkei 225 index, which closed up 1.1 percent on Wednesday, retreated 1.4 percent to 20,141.93. The Kospi in South...

Fed minutes: Growing risks make rate hike path less clear

Jan. 9, 2019 3:49 PM EST

WASHINGTON (AP) — Federal Reserve officials expressed increasing worries when they met last month, as they grappled with volatile stock markets, trade tensions and uncertain global growth. The threats, they said, made the future path of interest rate hikes "less clear." According to minutes of the Fed's...