Latest Jerome Powell News

US businesses cast wider net as jobless rate hits 3.9 pct.

Aug. 3, 2018 4:08 PM EDT

WASHINGTON (AP) — With the U.S. unemployment rate near a five-decade low, companies are looking harder for employees, and in some cases finding them right at their own workplaces. Businesses are adding more hours for part-timers and converting contractors to full-time workers. Americans with fewer skills...

Fed keeps key rate unchanged while signaling future hikes

Aug. 1, 2018 4:15 PM EDT

WASHINGTON (AP) — The Federal Reserve on Wednesday left its benchmark interest rate unchanged while signaling further gradual rate hikes in the months ahead as long as the economy stays healthy. The Fed's widely expected decision kept the central bank's key short-term rate at 1.75 percent to 2 percent...

Fed is set to leave rates alone as trade war raises anxiety

Jul. 30, 2018 12:09 PM EDT

WASHINGTON (AP) — The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time. If those concerns weren't enough, Trump has openly expressed his...

Treasury Secretary: Trump not threatening Fed's independence

Jul. 21, 2018 4:03 PM EDT

BUENOS AIRES, Argentina (AP) — U.S. Treasury Secretary Steven Mnuchin said Saturday that Donald Trump was not trying to put pressure on the Federal Reserve when he criticized its decision to raise interest rates. Speaking to reporters on the sidelines of a Group of 20 meeting in Buenos Aires, Argentina,...

Analysts: Trump tariff threats unlikely to yield trade deals

Jul. 21, 2018 11:50 AM EDT

WASHINGTON (AP) — With President Donald Trump intensifying his rift with U.S. trading partners, economists are growing more doubtful that any deal that might benefit American workers and companies is in sight. Instead, many analysts say they expect the Trump administration to impose more tariffs on China...

Trump slams rate increases by independent Federal Reserve

Jul. 20, 2018 2:00 AM EDT

WASHINGTON (AP) — President Donald Trump on Thursday cast aside concerns about the Federal Reserve's independence, saying he was "not happy" with the Fed's recent interest rate increases. Trump told CNBC in an interview: "I don't like all of this work that we're putting into the economy and then I see...

Global stocks drift lower as US considers more tariffs

Jul. 19, 2018 7:29 AM EDT

SEOUL, South Korea (AP) — Global stock markets drifted lower Thursday as the U.S. mulled whether to impose new tariffs on autos and auto parts. Europe said it was preparing to retaliate in kind, denting one of the key drivers of global growth. KEEPING SCORE: Germany's DAX fell 0.4 percent to 12,713 and...

Asian stocks drift as investors await fresh moves on trade

Jul. 19, 2018 12:50 AM EDT

SEOUL, South Korea (AP) — Asian stock markets were drifting Thursday in mixed trading as investors awaited further moves in global trade disputes. KEEPING SCORE: Japan's Nikkei 225 added 0.2 percent to 22,839.59, while South Korea's Kospi shed 0.2 percent to 2,285.99. Hong Kong's Hang Seng edged 0.1...

Fed says trade war downturn could pose challenges

Jul. 18, 2018 3:48 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the central bank has tools it can use to cushion the potential economic fallout from a trade war. But he told Congress the effort could be challenging if higher tariffs push inflation up too sharply. If the retaliatory tariffs...

Regulators seek end to stricter oversight of Zions Bancorp

Jul. 18, 2018 2:34 PM EDT

WASHINGTON (AP) — A panel of federal regulators is proposing lifting the strict government oversight imposed on Zions Bancorp, a big regional bank that received a taxpayer-funded bailout during the 2008 financial crisis. The unanimous decision by the Financial Stability Oversight Council announced...