Latest Central banking News

2 top Fed officials retire in wake of trading disclosures

Sep. 27, 2021 19:29 PM EDT

WASHINGTON (AP) — In a rare moment of ethical controversy for the Federal Reserve, two top officials resigned Monday in the wake of revelations about their financial trading that exposed potential shortcomings in the Fed's rules on investments. Eric Rosengren, the...

Powell says spike in inflation lasting longer than expected

Sep. 27, 2021 19:03 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell is preparing to tell Congress that the current spike in U.S. inflation has proven to be larger and more long-lasting than expected. But, in remarks prepared for delivery Tuesday, he says that if inflation does...

Boston Fed's Rosengren to retire early citing health

Sep. 27, 2021 11:28 AM EDT

WASHINGTON (AP) — Boston Federal Reserve President Eric Rosengren said Monday that he will retire this week and disclosed that he has qualified for a kidney transplant. Rosengren's announcement comes after investments by him and other Fed officials last year raised...

Stocks end mixed on Wall Street, S&P 500 manages weekly gain

Sep. 24, 2021 16:59 PM EDT

Wall street closed out a choppy week of trading Friday with a mixed finish for the major stock indexes, though the S&P 500 managed its first weekly gain in three weeks. The benchmark index rose 0.1% after spending much of the day wavering between small gains and...

Powell meets a changed economy: Fewer workers, higher prices

Sep. 24, 2021 15:28 PM EDT

WASHINGTON (AP) — Restaurant and hotel owners struggling to fill jobs. Supply-chain delays forcing up prices for small businesses. Unemployed Americans unable to find work even with job openings at a record high. Those and other disruptions to the U.S. economy —...

China says all crypto transactions illegal; Bitcoin tumbles

Sep. 24, 2021 10:49 AM EDT

BEIJING (AP) — China’s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. Friday’s notice complained Bitcoin, Ethereum and other digital currencies...

Asian shares mixed on China developer, virus concerns

Sep. 23, 2021 23:41 PM EDT

TOKYO (AP) — Asian shares were mixed Friday amid concerns over troubled Chinese real estate developer Evergrande and over the pandemic. Japan’s benchmark jumped after reopening from Thursday’s national holiday, but shares were little changed in South Korea and...

How major US stock indexes fared Thursday

Sep. 23, 2021 16:31 PM EDT

Stocks rose broadly for a second day in a row on Wall Street Thursday, reversing the market’s losses for the week just three days after the S&P 500 had its biggest skid since May. The S&P 500, Dow Jones Industrial Average and Nasdaq rose. Investors were pleased...

China's Ant Group to share credit data with central bank

Sep. 23, 2021 09:55 AM EDT

BEIJING (AP) — China’s central bank will soon have access to the private credit information of hundreds of millions of users of Ant Group’s online credit service, in a move signaling more regulatory oversight of the financial technology sector. Huabei, Ant...

Bank of England keeps rates on hold, warns over inflation

Sep. 23, 2021 08:56 AM EDT

LONDON (AP) — The Bank of England kept its main interest rate at the record low of 0.1% while warning Thursday that inflation is set to be double its target rate by the end of this year, largely due to a sharp spike in energy prices. The decision from the central bank's...