Latest Jerome Powell News

US consumer prices rose 0.3% on higher gas, housing costs

May. 10, 2019 9:07 AM EDT

WASHINGTON (AP) — U.S. consumer prices increased 0.3% in April, led by more expensive gasoline, apartment rents and appliances. The Labor Department said Friday that the consumer price index climbed 2% in the year ending in April. Excluding the volatile food and energy categories, core prices increased...

Powell: Policies needed to address slowdown in income growth

May. 9, 2019 1:24 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Thursday the United States needs to find ways to address a decades-long slowdown in income growth and upward economic mobility. In a speech at a Fed research conference, Powell said that incomes have grown more slowly for middle-class families...

Unemployment hits 49-year low as US employers step up hiring

May. 3, 2019 5:13 PM EDT

WASHINGTON (AP) — Hiring accelerated and pay rose at a solid pace in April, setting the stage for healthy U.S. economic growth to endure despite fears of a slowdown earlier this year. Employers added 263,000 jobs, with the unemployment rate dropping to a five-decade low of 3.6% from 3.8%, though that drop...

Global shares edge higher ahead of US jobs data

May. 3, 2019 7:27 AM EDT

SINGAPORE (AP) — Global markets advanced on Friday and Wall Street was headed for gains as traders eyed the release of U.S. jobs data for April. Germany's DAX was up 0.3% to 12,384 and the CAC 40 in France gained 0.2% to 5,550. Britain's FTSE 100 index rose 0.8% to 7,409, after a private survey showed that...

Asian markets mixed following losses on Wall Street

May. 2, 2019 11:36 PM EDT

SINGAPORE (AP) — Benchmarks in Asia were mixed with thin trading on Friday after a discouraging day on Wall Street. News reports highlighting obstacles in the way of a China-U.S. trade deal also weighed on sentiment. The Kospi in South Korea dropped 0.6% to 2,199.58 while Australia's S&P ASX 200 was...

A Trump dilemma: Finding a dovish GOP ally to serve on Fed

May. 2, 2019 1:43 PM EDT

WASHINGTON (AP) — The withdrawal Thursday of Stephen Moore, President Donald Trump's choice for the Federal Reserve board, has thrown a spotlight on the tough task Trump has set for himself: Finding a rare conservative ally who both favors cutting interest rates and is respected enough to win Senate...

World stocks waver as Fed steers clear of signaling rate cut

May. 2, 2019 7:41 AM EDT

SINGAPORE (AP) — World stocks were mixed on Thursday after the U.S. Federal Reserve kept its benchmark interest rate intact and steered clear of suggesting that a cut was likely this year. As European traders returned from the May Day holiday, France's CAC 40 lost 0.4% to 5,561 while Germany's DAX picked...

A Trump dilemma: Finding a dovish GOP ally to serve on Fed

May. 2, 2019 12:06 AM EDT

WASHINGTON (AP) — The skeptical response to President Donald Trump's choice of Stephen Moore for the Federal Reserve has thrown a spotlight on the tough task Trump has set for himself: Finding a rare conservative ally who both favors cutting interest rates and is respected enough to win Senate...

Asian stocks mixed as Fed steers clear of signaling rate cut

May. 1, 2019 11:56 PM EDT

SINGAPORE (AP) — Asian stocks were mixed on Thursday after the U.S. Federal Reserve kept its benchmark interest rate intact and steered clear of suggesting that a cut was possible this year. Trading was light with markets in Japan and mainland China closed. Hong Kong's Hang Seng rose 0.4% to 29,829.76...

Fed signals neither a rate hike nor a cut is likely soon

May. 1, 2019 5:06 PM EDT

WASHINGTON (AP) — The Federal Reserve left its key interest rate unchanged Wednesday and signaled that it's unlikely to either raise or cut rates in coming months amid signs of renewed economic health but unusually low inflation. The Fed left its benchmark rate — which influences many consumer and...